Top 10 Most Expensive NFT Artwork
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NFTs, or non-fungible tokens, were first introduced in 2014. But it wasn’t until famed auction house Christie’s sold Beeple’s Everydays: The First 5000 Days for $69.3 million that people, beyond a small niche market, first started to see the value of this digital art.
NFTs represent digital assets ranging from works of art to consumer goods such as sneakers. Music artists can also post songs or video clips on NFTs.
Why is NFT art so expensive?
NFT art is so expensive due to scarcity and demand. By their definition, a non-fungible token cannot be exchanged for another identical item. They are all unique, which gives them value in the eyes of collectors.
Some NFTs may also have intrinsic value beyond the art. For example, some NFTs may give you benefits or special access at concerts or sporting events.
Of course, not all NFTs hold value beyond their purchase price and they can depreciate. As with stocks and investments, choose NFTs carefully if you hope to make money. On the other hand, just as someone might buy a piece of art or a bottle of fine wine for enjoyment—and not as an investment—if you decide to collect NFT art for enjoyment, buy what you like. However, it makes sense to keep an eye on market prices. You could be sitting on a treasure!
Here’s a look at some of the most expensive NFT artwork:
- Beeple’s Everydays: The First 5,000 Days – $69.3 million
- Julian Assange and Pak’s Censored – $55 million
- Beeple’s Human One – $28.9 million
- CryptoPunk #5822 — $23.7 million
- CryptoPunk #7523 — $11.7 million
- Tpunk #3442 — $10.5 million
- CryptoPunk #4156 — $10.23 million
- CryptoPunk #5577 — $7.7 million
- CryptoPunk #3100 — $7.58 million
- CryptoPunk #7804 — $7.57 million
What kind of NFT art sells best?
If you are looking to invest in NFTs in hopes of making money, consider what types of NFT art sell best. NFT art is measured by its rarity, which is assessed by evaluating several characteristics. You can use rarity tools to find the rarity – and value – of an NFT. If an NFT is part of a popular collection, such as CryptoPunks, has many unique characteristics, or is one of only a few of its kind in the collection, it is more likely to command top dollar.
Recently, as the Bored Ape Yacht Club became interested in NFT collections, monkeys that are part of the CryptoPunks collection are selling at high prices. It helps that there are only 24 monkeys in the collection of 10,000 punks, making them a rare commodity compared to some other punks.
NFT art can also sell well because of its inherent beauty or the meaning behind the art. For example, Vignesh Sundaresan bought the most expensive NFT artwork ever sold because of its meaning to him. Beeple’s Everydays: The First 500 Days is a collection of 5,000 illustrations that took the artist 13 years to create. Sundaresan explained, in a CryptoSlate interview, that 13 years ago he had just started coding and had no money. Thirteen years later, he could spend $69.3 million on an NFT. For him, the art represents his journey and winning the bid stands as a testament to his success in the tech and crypto world.
The most expensive NFT pieces of art
Read on to find out more about the most expensive NFT artworks and their owners.
10. CryptoPunk #7804
Price: $7.57 million
Our list of the 10 most expensive NFTs of all time begins with a name that will dominate this list: Larva Labs CryptoPunks. Like other collectible NFTs, the value of these avatars is determined by their rarity and market demand. CryptoPunk #7804 has three attributes, but is the only “cap forward” punk to also have a pipe and small shades. This punk is an alien, making it exceptionally rare as one of only 9 in the series of 10,000 punks.
It was purchased in March 2021 by Peruggia-V, who is currently putting it up for sale through the CryptoPunk blockchain for $11.28 million. If it sells at this price, it will quickly jump up our list and become one of the top 3 best selling punks of all time and one of the top 5 best priced NFTs in the world.
9. CryptoPunk #3100
Price: $7.58 million
With only nine alien CryptoPunks on the blockchain, it is not surprising to see an alien on the list of the most sold NFTs of all time. In March 2021, a user named straybits.eth bought CryptoPunk #3100. Not only is this NFT rare because it’s an alien, but it’s one of only 406 headband punks. The owner is currently asking $44.4 million for NFT, but recent offers have not exceeded thousands of dollars, much less millions. In October 2021, someone bid $87.64 million, but withdrew the bid the same day.
8. CryptoPunk #5577
Price: $7.7 million
A rare monkey, CryptoPunk #5577 from Larva Labs, sold for $7.7 million in February 2022. It is one of only 24 monkeys and one of only 142 punks with cowboy hats. It was reportedly bought by Robert Leshner, CEO of Compound Finance. In July 2022, someone offered $4.92 million for it, but that bid was not accepted.
7. CryptoPunk #4156
Price: $10.23 million
In December 2021, CryptoPunk #4156, one of only 24 Ape Punks created, sold for $10.23 million to an unknown buyer. The punk has one trait, which makes it rare as only 333 punks have so many. The punk was sold again in July 2022. This time for just $3.31 million. There is currently a bid of $15,892 on the punk. This shows that NFTs are not guaranteed to rise in price and are subject to the crypto winter as well as other factors.
6. Tpoint #3442
Price: $10.5 million
Designed after the Joker of Batman fame, with green hair and a wide smile, Tpunk #3442 is one of 10,000 NFTs traded on the Tron blockchain. Tpunks were designed to emulate the look – and ideally the success – of CyberPunks. Although pixelated heads may not be considered “art” by some in the conventional sense, they are sought after and bought at high prices by collectors. Tron founder Justin Sun bought this NFT in August 2021. He shared in a tweet that he donated the NFT to the ApenFT Foundation.
5. CryptoPunk #7523
Price: $11.7 million
CryptoPunk #7523 is a rare alien and even rarer because he wears a COVID-era face mask. Only 175 punks have this trait. Punk #7523 also has a knitted hat and an earring. This purchase stands out, not only because of the high price, but because it did not take place on the blockchain. It was purchased through Sotheby’s Natively Digital Auction by a collector named “Sillytuna” in June 2021.
4. CryptoPunk #5822
Price: $23.7 million
CryptoPunk #5822, a light blue alien with a blue bandana, is not only the third best selling NFT of all time, it is also the highest priced CryptoPunk to come out of Larva Labs. The CryptoPunks collection is listed on the Ethereum blockchain and includes 10,000 unique characters. Initially, CryptoPunks were free to acquire for anyone with an Ethereum wallet. Developers Matt Hall and John Watkinson created 10,000 of the 8-bit style faces, but only released 9,000 to the public.
Most of the characters are human, but there are some monkeys, zombies and aliens as well. As one of only 9 aliens released to date, it’s no wonder #5822 garnered so much attention from Chain CEO Deepak Thapliyal, who purchased the NFT in February 2022 and immediately tweeted a photo of his purchase.
3. Beeple’s Human One
Price: $28.9 million
Digital artist Beeple creates dynamic, moving art in both NFT and physical forms. Human One combines an electronic sculpture with an NFT. The pieces will be sold at Christie’s on 21St Century Evening Sale in November 2021.
2. Julian Assange and Paks censored
Price: $55 million
An organization called AssangeDAO is a cross-border collective fighting for the freedom of Julian Assange, who is serving up to 175 years in prison in the United States. The DAO raised $55 million in Ethereum to buy this art collection created by Pak. Pak subsequently donated the proceeds from the sale on 7 February 2022 to help fund Assange’s legal defence. The NFT Clock, which was part of the collection, is worth $52.7 million alone. NFT shows a clock ticking off the days Assange has been in prison.
1. Beeple’s Everydays: The First 5000 Days
Price: $69.3 million
Vignesh Sundaresan bought Beeple’s Everydays: The First 5000 Days at a Christie’s online auction. The crypto investor later told Cryptoslate that he bought the piece to show people of color, and especially Native Americans, that they too could become art patrons. In addition, the purchase helped put NFTs on the worldwide radar as viable investments. Sundaresan, who now owns the most expensive NFT, told CryptoSlate that the purchase was also a way to “give back to the system that gave me so much.”
Final Take
Just like with stocks and general investments, choose NFTs carefully if you hope to make money. Never invest more than you can afford to lose and keep a close eye on the market prices, you could be sitting on a good amount of money.
The information is accurate as of 25 October 2022.
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