Top 15 most expensive NFTs in history
In 2023, the most expensive NFTs (non-fungible tokens) will be represented by a variety of assets, from living sculptures and digital works of art to virtual real estate in meta universes. We've compiled a ranking of tokens that have made history because of multimillion-dollar transactions. Today, anyone can make a non-fungible (i.e., non-exchangeable) token, even on a free platform. World-renowned companies and hundreds of thousands of private investors invest in them. NFT's trading volume grew 43,000% in 2021, reaching $26 billion in sales.
Find out what the most expensive NFT is, how an anonymous artist got $91.8 million richer, and why the future is digitalization in the crazy new world where a .gif is worth more than a Ferrari from a custom auto salon.
Start investing in NFT right now with Binance!What is NFT?
NFT(non-fungible token) is a special form of cryptocurrency or other asset based on a blockchain architecture. It became a sensation in 2021. Each NFT is unique, so it cannot be equivalently replaced like other coins. It guarantees ownership of any meta-object and can act as an analog of a digital signature.
NFTs are stored in a blockchain, which is a type of database with all the records publicly available. There are many of them, and anyone with the right technical skills can create their own blockchain.
Due to the unique design of the tokens and the blockchain itself, NFTs have several attractive features:
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they may refer to a file, such as an image or a music recording;
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they can be checked by anyone as relevant information is public.
Note, that the failure to thoroughly figure out exactly what these qualities mean from a technical point of view confuses the technology. The widespread misunderstanding of how NFTs work gives rise to many scammers who use this to extort huge sums of money.
There is a misconception that because of non-convertibility, only one token can be assigned to a given file, so NFT can be used to indicate ownership of a particular file. However, the point is different as multiple NFTs pointing to the same source are acceptable. They can belong to different people. The point is that each person can create a blockchain and sell NFTs on it, pointing to files pointed to by tokens in another blockchain.
Taking into account the aforementioned, remember:
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an NFT is not proof of ownership of the file it points to;
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the purchase of the NFT doesn’t constitute a grant of copyright on the work to the purchaser.
The capabilities of NFTs are not only useful for exchanging digital art objects, they can be used for serious business applications. The issues are very broad. Let's just note that tokens can be indispensable in creating a marketplace for digital equivalents of real assets, such as homes, businesses, or even bottles of fine wine. Virtually anything can be tokenized.
For example, do you see real estate potential in Spain, but can't afford an apartment to rent? You could buy an NFT that entitles you to a share of the profits. If you believe that Tuscan vineyards have a great future, it is realistic to invest in such a project. Whether you'll make a profit in cash or bottles of wine is another question. The era of using NFTs in serious business is just beginning.
There are a few key points to know about the technology itself:
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The most expensive NFT images include works of art, but they can also be collectibles, media and audio files, avatars, memes, skins, etc. Virtually anything that is to be digitized can become a non-exchangeable token;
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Even the most expensive NFT paintings don’t exist physically, they are stored as datasets that are unique to a particular piece;
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In 2021, the value of all items sold on the NFT market was approximately $41 billion;
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The digital art boom was largely due to the work;
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Everydays’ “The First 5000 Days" by the popular artist Mike Winkelman, who got fame as Beeple. The picture was sold for $69 million and was long considered the most expensive NFT, but at the end of 2021, the record was broken. Read more about it here.
CryptoKitties is the first popular example of NFT, it is a collection of artistic images of virtual cats used in the Ethereum game. Users can buy, collect, breed, and sell them. NFT allows us to establish the "origin" of a digital object, confirming its uniqueness.
Top 15 most expensive NFTs
Before identifying the most expensive NFT, here is a short course on the subject. There are two concepts in digital art that need to be distinguished. They are: (i) a digitized work of basic art and (ii) a work created only with the help of digital technology. The first is analogous to the thesis "To digitize is to preserve" and implies the presence of the original object in a material form. The second implies an intangible object that exists only virtually.
Now you can show off your erudition by telling your conversational counterpart, what is the difference between the most expensive NFT pictures, mentioning the following examples.
1. Jack Dorsey's first tweet — $2.9M
Jack Dorsey's first tweet — $2.9M
Twitter co-founder Jack Dorsey traded his "zero" post in the form of an NFT for $2.9 million. The sale took place through the Valuables marketplace. T was bought by Bridge Oracle (BRG) manager Hakan Estavi.
2. Replicator от Mad Dog Jones — $4.1 М
Replicator от Mad Dog Jones — $4.1 М
Canadian Mika Doubek created the "evolutionary" NFT "Replicator," selling it for $4.1 million. Its special feature is that the token is made in the form of a printer placed in a night office. This composition includes seven unique generations of artwork. The first one will produce one new image each month for six months. With each subsequent generation, the number of generations decreases. In the end, the buyer will receive up to 220 more NFTs, which can be resold.
The most expensive NFTs are not always static images, but something more. For example, as in this case, a project that lives on its own.
3. Save Thousands of Lives — $4.5 М
Save Thousands of Lives — $4.5 М
This is one of the most expensive NFT pictures by Noora Health. The company develops programs and equips and trains people caring for the sick in South Asia.
4. CryptoPunk #5217 — $5.4 М
CryptoPunk #5217 — $5.4 М
Who would have thought that CryptoPunks’ monkeys would be the most expensive among NFT pictures? The avatar in the red hat was the fourth most expensive of Larva Labs' much-acclaimed collection. It was bought by an anonymous individual for 2,250 ETH, which was $5.4 million at the current exchange rate.
5. Stay Free by Edward Snowden — $5.5M
Stay Free by Edward Snowden — $5.5M
Former NSA and CIA intelligence agent Edward Snowden released his own NFT in January 2023 through the Foundation exchange. The work consists of scanned pages of text from a U.S. court order on the illegality of the National Security Agency's modus operandi. The lines clearly show a portrait of Snowden himself. The proceeds from the sale of the token were transferred to support the Freedom of the Press Foundation.
6. Ocean Front from Beeple — $6 М
Ocean Front from Beeple — $6 М
An oppressive dystopian landscape embodying the consequences of detrimental climate change was bought by Justin Sun, founder of the blockchain project Tron, on the Nifty Gateway platform. It's not the most expensive NFT Beeple, but the artist has made a promise that he will transfer the money toward solving environmental problems.
7. A Coin for the Ferryman by Xcopy - $6.01 M
A Coin for the Ferryman by Xcopy - $6.01 M
"Coin for the Ferryman" is a work among the first by the now legendary crypto-artist from London under the pseudonym Xcopy. It was among the most expensive NFT paintings of last year.
8. Crossroad by Beeple — $6.6 M
Crossroad by Beeple — $6.6 M
Crossroad is an NFT animation by the familiar Mike Winkelmann. The work is dedicated to the defeat of Donald Trump in the U.S. presidential election (it shows a reclining figure against a background of indifferent passersby). The lot was sold at the cryptocurrency digital art market Nifty Gateway.
9. Art Blocks, Ringers #109 — $6.93 М
Art Blocks, Ringers #109 — $6.93 М
Software-generated art from the Art Blocks collection. The latter has over 99,000 non-interchangeable tokens. According to the report of the decentralized site Dappradar, the work was sold for 2,100 ETH.
10. Xcopy: Right-Click and Save As Guy — $7.09 М
Xcopy: Right-Click and Save As Guy — $7.09 М
This is the most expensive NFT Xcopy token so far, for which he got 1,600 ETH or $7.09 million. According to the nickname of the buyer "Cozomo de' Medici", it was rapper, producer, and actor Snoop Dogg. This information was later confirmed.
11. Larva Labs, CryptoPunk #3100 — $7.58 М
Larva Labs, CryptoPunk #3100 — $7.58 М
The alien with a headband instead of a headdress became part of the alien punk collection, ranking among the top 3 most expensive NFTs in the series.
Curious fact: Only 406 of 10,000-pixel punks have the armband. CryptoPunk #3100 was originally listed at $2 million but went under the hammer for $7.58 million. It is currently trading for 35,000 ETH, which is about $62 million at current exchange rates.
12. Larva Labs, CryptoPunk #7523 — $11.75 M
Larva Labs, CryptoPunk #7523 — $11.75 M
Another CryptoPunk alien #7523, nicknamed "Covid Alien" for the mask on his face. It cost $11.75 million. It was sold on the Sotheby marketplace.
13. Beeple, Human One — $29.98 М
Beeple, Human One — $29.98 М
Human One is a futuristic sketch depicting the figure of an astronaut walking endlessly forward against an ever-changing backdrop. The work is displayed on four screens with a total resolution of 16k, which are included in the set. The token was bought in January 2023 for $28.9 million at Christie's by cryptocurrency billionaire Ryan Zurrer.
14. The First 5000 Days — $69.3 М
The First 5000 Days — $69.3 М
"Someday this collage will be worth $1 billion. It could be the most important piece of art for this generation. We're glad we made history by buying it," says Twobadour, one of the people who paid the $69 million for NFT Everydays’ "The First 5000 Days."
The Metapurse Foundation of Singapore was the buyer of a collage of 5,000 digital images by Mike Winkelman. The foundation was founded by a man who hides behind the pseudonym MetaKovan and is co-directed by Twobadour.
15. The Merge — $91.8 М
The Merge — $91.8 М
The Merge is a digital project created by an anonymous person with the nickname Pak. In January 2023, this work was successfully sold through the NFT Nifty Gateway service. It is important to note that the token is divided into 313,685 separate elements, which went to 28,983 investors. In fact, users bought individual "masses" that collectively form The Merge. Today it is the most expensive NFT in the world, the cost of which has become an absolute record.
Why are NFTs gaining popularity?
Many novice investors wish they had bought Bitcoin years ago when it was a hundred times cheaper. Looking at the sharp rise in the exchange rate, some people feel like a scheme to get rich fast is right under their noses. In addition, corporations have for years successfully tweaked consumers to the point where the meaning of "having something" is distorted in a digital world. People are already used to paying for things they don't own after purchase (like iTunes, where purchased movies disappear when Apple loses licenses, or loot boxes in video games, where you buy the chance to get in-game items). This has made consumers very vulnerable to further misrepresentation of the meaning of "ownership."
Today, the most expensive NFTs are not hype or a bubble. Non-interchangeable tokens provide the basis for securing the ownership of valuable items, which strengthens the position of property protection. In business processes, NFTs can be an extremely powerful tool because they can represent any asset—digital or real.
Among the most promising areas for the application of NFTs are:
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the field of collecting. The technology can be used to create a new kind of digital collectibles. In turn, traditional collectibles, such as baseball cards and stamps, are also being tokenized;
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the sphere of the gaming business and entertainment. Trading game items is one possible use of NFTs. Most implementations revolve around turn-based strategy or card-based collectible games such as Axie Infinity or Gods Unchained;
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the sphere of business development in art in the creative industries. With the boom of the art crypto market, the art trade is more relevant than ever. You have seen it yourself by examining the most expensive NFT pictures. Blockchain allows artists to monetize their works and protect copyrights;
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virtual assets. Ethereum Name Service and Unstoppable Domains have turned .eth and .crypto into NFTs that can be traded. Real estate in Decentraland and Cryptovoxels virtual worlds is also symbolized in NFT, and the meta-universe industry itself is just gaining momentum;
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real assets. The process of tokenizing tangible items, and trading them in virtual space is becoming one of the primary goals of NFT. OpenLaw created an ERC-721 token-based real estate trading system, and last year Nike also patented a shoe tokenization system;
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the identity of the information, protecting information databases of vast data. With NFT, internet users can better protect and control personal data, such as a person's medical history, DNA data, birth certificates, employment history, etc.
In the digital economy, blockchain technology and its component, NFTs, are a system of distributed databases that use algorithms to securely record various transactions. The information that enters and is generated in the blockchain system and at the level of NFTs cannot be illegally altered (tampered with, deleted, or destroyed), because the later in time chains protect the data about the transactions already performed earlier. This principle of organization makes NFT technology universal for international business applications.
In 2023, the most expensive NFTs are just the tip of the iceberg, because the future of digitalization stands behind them.
What affects the Bitcoin rate?
As a rule, the most expensive NFTs are the work of famous artists and other famous market figures, but the price is also affected by:
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a timely idea;
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uniqueness;
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utility;
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materiality.
The value of digital content is not linked to a basic object in the real world because the NFT price is influenced by demand and market sentiment. So, the author of a token can set any price tag. However, whether there will be those willing to make a deal on the terms put forward is another question. When the demand factors of the seller and the intentional costs of the buyer coincide, the speculative value of the asset will be determined. This is the approximate mechanism of how the most expensive NFT assets appear.
Where can I buy NFTs?
You must have the proper tools to sell or buy NFTs. Traders, investors, and digital artists use cryptocurrency exchanges as well as special platforms (marketplaces) for this purpose.
To acquire NFTs, you must have an appropriate digital wallet to store them. NFTs are purchased using cryptocurrencies or fiat currencies. Currently, Ethereum is considered the most popular payment method for this purpose. The process of buying an NFT can vary significantly, depending on which exchange you choose. Interestingly, the value of NFTs can vary greatly because it is largely based on speculation. The most expensive works of art made with this technology are worth tens of millions of dollars, as was seen above. However, if you want to buy a token, you don't need to spend a fortune. Less popular NFTs can be purchased for just a few dozen dollars.
Services where you can buy the most expensive NFTs:
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The Binance NFT Marketplace is a platform that supports all forms of digital art and collectibles. It is based on Binance infrastructure and community, which guarantees the highest liquidity for NFT creation and trading;
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Alibaba NFT – The Chinese giant Alibaba Group Holding Limited (BABA) recently launched a new marketplace for non-convertible tokens (NFT), where owners can sell tokenized licenses for their intellectual property;
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OpenSea is one of the most famous NFT exchanges. The site not only acts as a trading and auction platform but also offers an intuitive tool for creating your own NFTs or even collections of them.
NFTs, or non-exchangeable tokens, are rapidly gaining prominence in the cryptocurrency market. Don't miss the opportunity to take your place in the growing market. Who knows, maybe the next most expensive NFT will belong to you.
FAQs
What is an NFT in simple English?
NFTs (non-fungible tokens) are assets generated in the blockchain network. In general, it is a digital certificate that proves ownership of a virtual asset such as an image, audio file, video clip, gif, etc. NFTs are stored in a blockchain. Anyone with some technical skills can create their own blockchain.
Is it possible to steal an NFT?
Technically, yes, but only as a result of phishing. The buyer of an NFT becomes the owner of a blockchain certificate stored in a secure digital wallet. Information about the fact of ownership itself is available to all participants of the system in the open. This means that the work can be copied, but not stolen. For a better understanding, imagine Leonardo da Vinci's painting of the Mona Lisa. The original exists in a single form, it is priceless, while reproductions flood the world.
Is it possible to make money on the NFT?
Of course. More to the point, you can do more than just create or trade tokens. If you have expertise in this field, share it for money through training (courses, lectures, webinars, etc.), start a thematic blog, or create a website.
How much is the most expensive NFT painting in the world?
As of January 2024, it was The Merge for $91.8 million. Before that, the palm belonged to The First 5000 Days for $69.3 million. However, the industry is so dynamic that we should not be surprised if tomorrow the record is updated.
Team that worked on the article
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