If there’s one thing you need to know about NFTs, it’s that they only exist in the digital space, meaning that you’ll be able to own a physical copy of your NFT – unless you choose to print it out, of course.
NFTs or non-fungible tokens are digital assets that have been tokenized and stored on a blockchain – the Ethereum blockchain in most cases. If you want to know what is NFT art read this article from Tezro.
Technical details aside, NFTs have exploded into popularity recently, with valuations moving well beyond the $50 million mark.
Hence, this may be just the beginning for NFTs, so join us as we take a look at the top 5 most expensive NFT art pieces (so far).
Artist: Pak
Price: USD 91.8 million
Sold by: Nifty Gateway
Topping our list is The Merge, a unique piece of digital art created by an artist/artists known only as Pak.
Unlike other NFT art pieces, The Merge is a collection of works divided into single units that make up a total mass. These units are sold as tokens with prices starting at $575, steadily increasing by $25 every 6 hours.
A total of 312,686 total units of mass were sold to 28,983 art collectors on the Nifty Gateway from the 2nd to 4th December 2021. Collectors could also purchase as many tokens as they wished.
Eventually, this led to a total valuation of $91.8 million, which set the record for the highest price achieved by a living artist. Although, there has been some argument as to whether The Merge is considered a single or collective work of art.
Artist: Beeple aka Mike Winklemann
Price: USD 69.3 million
Sold by: Christie’s
Regarded as the NFT that got the ball rolling, Beeple’s Everydays – The First 5000 Days became a classic when it was sold for a whopping $69.3 million by Christie’s at auction back in 2021.
The culmination of 13 years of work, Everydays – The First 5000 Days is a collage of individual images curated by artist Mike Winkleman.
Everydays also has the distinction of being the first-ever piece of digital art sold by Christie’s. Its buyer was crypto investor; MetaKovan, aka Vignesh Sundaresan, who has since encouraged people to download the image as much as possible.
Besides turning Beeple into a multimillionaire, Everydays has allowed him to collaborate with Nike and Katy Perry.
Artist: Beeple aka Mike Winklemann
Price: USD 28.9 million
Sold by: Christie’s
Another piece by Beeple, Human One, features a lone astronaut exploring the wasteland of a long-desolate world with references to pop culture and art history.
The art piece is displayed as a 7-foot high sculpture that combines physical and digital imagery to deliver a truly stunning experience.
Human One is connected to the Ethereum blockchain and is intended to evolve in line with real-world events and transacted at $28.9 million at a Christie’s auction.
Artist: Larva Labs
Price: USD 11.75 million
Sold by: Sotheby’s
CryptoPunk #7523 is a Larva Labs creation featuring a blue-skinned alien clad in a bandana and mask with a gold earring. The CryptoPunk series of NFTs have certified classics featuring 10,000 tokens with different aliens – called ‘punks’.
#7523 is the priciest entry in the CryptoPunk series, sold at $11.75 million to Israeli entrepreneur Shalom Mackenzie.
Artist: Larva Labs
Price: USD 7.58 million
Sold by: Sotheby’s
Previously sold for $7.58 million, CryptoPunk #3100 features a sweatband-clad ‘punk’ and is the second-most expensive NFT in the series.
However, according to Larva Labs, #3100 has recently been listed at $90.5 million, and if the sale goes through, this will make it the second most valued NFT so far. Any takers?
So, there you have it, a selection of the 5 most expensive NFT art pieces that have been sold thus far.
While the market for NFTs is undoubtedly lucrative, always be sure to do your research before jumping in
