Top 5 Valuable NFTs Ever Sold

NFT is an acronym for Non Fungible token, although they have been in existence for a while, however, the adoption is on the rise because they are popular ways you can sell your digital masterpiece. You might be wondering what a Non Fungible Token means. As the name implies, non-fungible means irreplaceable. So in the real sense, there can never be two NFT of the same kind, unlike fungible assets like bitcoin. Whenever you buy bitcoin today and you buy another the following day or week, you are buying the same asset. Whenever you sell or buy BTC, you’re simply trading BTC, however, this is not so with NFTs. So what exactly is a Non-fungible token?

NFT is like a piece of art, though it can be copied, the original piece is unique and unchangeable. This makes it non-fungible. To understand what it means, represent the piece of art with a digital piece. Most Non-fungible tokens are part of the Ethereum blockchain, it is however possible for other blockchains to create their version. Non-fungible tokens act as proof of something you own; a real or virtual asset. More like a digital representation of an asset. NFTs just like other tokens don’t have a tangible form. However it is important to note that an NFT isn’t only limited to a digital piece of art, it can be any digital collectible; can even be a tweet, gif, audio file, and any other digital item you can think of.

Since 2017, about 123 million pounds have been spent on NFTs. You might wonder why people are spending so much on NFTs when you can basically see the image online. As explained earlier, NFTs act as evidence that you own an item. Where bitcoin serves as a digital currency, NFTs are digital forms of collectibles. In the real sense, anybody can sell their art or piece as an NFT, however, multi-million dollar sales have always been the big deal. Below are some of the most valuable NFTs ever sold.

You can also find out more about blockchain technology and the RENEC blockchain.

Everydays- The first 5000 days

Everydays- The first 5000 days is an NFT in a JPG format. It is made up of a collage of images that was created by Mike Winkelmann nicknamed Beeple. The piece is unique because while most art pieces are single images or paintings, Everydays- The first 5000 days is a masterpiece made up of all the artist’s work since he started showcasing his art online in May 2007, consisting of over 5000 images with different styles. The name of the art is derived from this, “making an art every day without missing a single day for 5000 days”.

The NFT made history back in February when the popular auction house Christie’s launched its pioneer auction of an NFT. The bid which started at $100, increased exponentially to $1 million In just a few minutes. The NFT was finally sold for $69 million which is the highest price for a Non-fungible token. The NFT was bought by Metakovan and Troubadour.

Metakovan and Twobadour are Non-fungible token collectors located in Singapore and they believe the Everydays – The first 5000 days will be worth a billion dollars in the future. 

Whether an NFT will beat this valuation is a thing we have to wait and see because even the second most valuable NFT doesn’t come close to it.

Cryptopunk #7523

Just recently, Cryptopunk #7523 broke the record set by punk #3100 as the most expensive Cryptopunks ever sold. Cryptopunks is a set of 10,000 digital characters created by larva labs and are one of the pioneers NFTs created on the market. Initially, Cryptopunks are available for free, however, they are now being sold at very high prices after the NFT boom. Cryptopunk #7523 is the most expensive of the punks and one of the nine alien punks which are the rarest of all punks. It is unique from other aliens because it is the only one with a mask.

On June 10, 2021, Cryptopunk #7523 made history to become the most expensive punk and the second most valuable NFT. The NFT was sold for $11.7 million and the auction was carried out by Sotheby’s. The digital piece with blue-green skin, adorned with earrings, a knitted cap, and also a medical mask was bought by an Israeli entrepreneur Shalom Mackenzie. So rather than choosing to buy bitcoin or any other fungible asset, he chose to invest in the amazing piece.

Cryptopunk #3100 

Cryptopunk #3100 was purchased on the 11th of March 2021 for $7.58 million to become the second Cryptopunk with the most value after displacing Punk #7804. Cryptopunk #3100 is the second most expensive of them and just like punk #7523, it is one of the nine alien punks. Cryptopunk #3100 has a blue-greenish skin and also has a headband which is the only accessory it carries although about 406 of the punks have this. However, no two punks look alike despite having 10,000 of them.

CryptoPunk #7804

Sold for $7.57 million, the alien punk created by larva labs is the third most valuable Cryptopunk and the fourth most valuable NFT ever sold. The alien is also adorned with three accessories; a face cap, shade, and a pipe with smoke rising from it.  It was initially the most expensive punk before #3100 took over and this was just in the space of a few hours because the auction took place almost at the same time. Although it has fallen down the pecking order to third, however, this doesn’t displace it as one of the top 5 valuable NFTs Ever Sold.

Crossroads

Crossroads, also created by Beeple, was sold for $6.6 million. The sale took place a few days before the mind-blowing sale of Everydays. Unlike Everydays, Crossroad is a single piece of art. The NFT was created in the heat of the 2020 US election and the piece contains a look-alike big image of Donald Trump with loser written on it and some onlookers passing by.

In conclusion, while most people will still prefer to buy BTC and other fungible assets, The NFT niche is worth paying attention to. So in addition to searching for how to buy bitcoin, you’d better start collecting your NFTs or rather start making your piece.