Overview about NFT
NFT (Non-Fungible Token) is a type of crypto token that is unique and not interchangeable. Its uniqueness comes from its one-of-a-kind characteristics - each NFT is different from others by having its own name, ID, ownership record, etc.
Due to their distinctive attributes, NFTs are usually in the form of arts, pictures, or even in-game items for play-to-earn games. NFTs are also incredibly useful for authenticity proof, which can be used in various fields like legal documents, real estate ownership, or digital identity.
NFT has 6 features in total:
- Indivisibility: NFTs are indivisible since they cannot be split into smaller parts, even though some projects are working on a way for this (NFT fractionalization).
- Scarcity: Each NFT (collection) is usually one of its kind and only produced once. Therefore, their scarcity is highly appreciated.
- Uniqueness: NFTs are unique due to the fact that no two NFTs are identical — they're not interchangeable.
- Ownership: The ownership of an NFT is recorded directly in that NFT as a characteristic. Should the NFT owner change via trading, its information will also be adjusted accordingly.
- Transparency: NFTs with their attributes are always visible on the blockchain. Anyone can check the information of a particular NFT via blockchain explorers, making it transparent.
- Interoperability: NFTs can be traded, purchased, or sold via any NFT marketplaces.
Top 5 most expensive NFTs sold to date (2022)
Though possessing incredible practical applications and traits, NFTs are most known for their unlimited price potential. In this part, we will go through the top 5 most expensive NFTs ever sold - the most exciting part that we all want to know.
Everydays: The First 5000 Days - $69.3M
Everydays: The First 5000 Days is a digital work of art created by Mike Winkelmann, whose professional nickname is Beeple. In February 2021, this NFT was sold for $69.3M via an auction sale.
Everydays: The First 5000 Days is a collage that was created by 5000 daily artworks made by Beeple himself, starting from 2007. For a masterpiece to be made, this was worth the effort.
This is not the only worthwhile NFT artwork made by Beeple. In fact, he has sold other original artworks for millions of dollars, which we will go into more detail about shortly.
Clock - $52.7M
‘Clock’ is a piece created by Pak and Julian Assange, which works similarly to a clock, counting the number of days from the imprisonment of the WikiLeaks founder Assange. Assange is involved in a highly controversial case with possibly 175 years locked behind bars.
The goal of the NFT was to raise funds for Assange’s legal defense and was ultimately purchased by AssangeDAO — a collection of over 10,000 people pooling their money to purchase the NFT and support Assange.
HUMAN ONE - $28.9M
As mentioned above, Beeple does not only produce a one-piece wonder but actually numerous million-dollar masterpieces. Also auctioned at Christie’s, similar to Everydays: The First 5000 Days, HUMAN ONE was sold for $28.9M at another auction in November 2021.
HUMAN ONE is a 3D moving sculpture within a transparent box. It displays an endless video of an astronaut journeying through places that change based on the real-time of the day and will evolve over time. This vivid artwork reflects Beeple’s artistic ambitions beyond the digital realm.
CryptoPunk #5822 - $23.7M
CryptoPunk is no longer an unfamiliar NFT collection to the crypto world, and it is no strange thing that almost if not everyone in this space acknowledges it. Being one of the most famous and expensive NFT, CryptoPunk has to be on this list without a doubt.
CryptoPunk #5822 was sold for 8,000 ETH in February 2022, equivalent to $23.7M at the time. This particular NFT originates from a rare collection of CryptoPunk, in which there are only 9 unique versions. Listed on July 11th, 2017, its price has only increased ever since.
CryptoPunk #7523 - $11.75M
It is not a surprise that CryptoPunk has made it twice in this list, considering how popular it is during the NFT craze. In fact, before the recent surge of CryptoPunk #5822, CryptoPunk #7523 was actually the most expensive of this collection.
CryptoPunk #7523 was sold for $11.75M during the COVID pandemic in June 2021. Not only is it extremely rare but its special appearance with a mask was also the reason why this particular NFT stands out.
To conclude, NFT has shown how intriguing they can be, not only from the popularity aspect but also from their value. I have introduced to you the top 5 most expensive NFTs up to this point (August 2022), but who can be certain that they stop here?