Unique digital assets known as non-fungible tokens (NFTs) can be purchased and sold online. In recent years, they have gained popularity, and certain NFTs are now extremely expensive.
The priciest NFTs in history will be discussed in this article.
The Merge (2022)
Digital artist Pak created the piece of art known as The Merge. It is a set of 312,686 NFTs that can be put together to make a single work of art.
The Merge was sold for $91.8 million in an auction on the OpenSea platform in December 2022. The cost of this NFT is the highest ever.
The First 5000 Days: Everydays (2021)
A digital piece of art called Everydays: The First 5000 Days was produced by Beeple, a stage name for artist Mike Winkelmann. It is a group of 5,000 pictures that Beeple produced over a period of 5,000 days.
Everydays: The First 5000 Days was auctioned off on the Christie’s platform in March 2021 and sold for $69.3 million. The first NFT to sell for seven figures was this one.
CryptoPunk #7523 (2021)
The CryptoPunks collection includes the computer-generated punk avatar known as CryptoPunk #7523. It is one of the nine rarest alien cryptopunks in the collection.
CryptoPunk #7523 was auctioned off by Sotheby’s in March 2021 and sold for $11.7 million. The first NFT to sell for seven figures was this one.
Beeple’s Crossroads (2021)
The digital artwork Beeple’s Crossroads was produced by Beeple. The illustration shows a crossroads, with two possible directions leading to the 2020 US presidential election.
Beeple’s Crossroads was sold for $6.6 million at an auction on the Nifty Gateway system in November 2021.
CryptoPunk #3100 (2021)
Another computer-generated punk avatar from the CryptoPunks collection is CryptoPunk #3100. It is one of the nine rarest alien cryptopunks in the collection.
CryptoPunk #3100 was auctioned off on the Sotheby’s platform in March 2021 and bought for $7.5 million.
Additional pricey NFTs
There are additional NFTs as well as these that have attained notable values. These consist of:
- 2021’s Bored Ape Yacht Club #6969 was sold at auction on the Sotheby’s platform for $5.8 million.
- 2021’s CryptoPunk #5527 was sold at auction on the Sotheby’s website for $7.5 million.
- 2021’s CryptoPunk #7580 was sold at auction on the Sotheby’s website for $5.7 million.
- 2021’s CryptoPunk #2539 was sold at auction on the Sotheby’s website for $5.4 million.
- 2021’s CryptoPunk #5822 was sold at auction on the Sotheby’s website for $5.3 million.
Conclusions
NFTs are a particular class of digital asset that have grown rapidly in recent years. Some NFTs have skyrocketed in price, raising the question of whether they represent a bubble or a sound investment.
Whether NFTs are a bubble or a sound investment is difficult to determine. Nevertheless, there are some elements that can suggest if NFTs have the ability to develop into a long-term investment. These elements consist of:
NFTs must be useful in order to be a worthwhile investment. NFTs are unlikely to be a long-term investment if they have little practical value.
Demand for NFTs: For NFTs to be a reliable investment, there must be a market for them. Prices will decrease if there is a decline in NFT demand.
