The roaring popularity of NFTs peaked in 2021 and 2022, but it now appears to be declining. The sales of NFTs that once fetched millions of dollars have lost their shine and are now only worth a few measly dollars. 

To make matters worse, multiple scams have cropped up around NFT and cryptocurrency projects, which have attracted the attention of influencers like Logan Paul, who was scrutinised in a documentary by Coffeezilla.

Despite all the chaos and uncertainty, some glimmers of hope remain. Collections such as the Bored Ape Yacht Club and CryptoPunks have emerged as some of the most expensive art you can acquire, with artists like Beeple and Pak selling their creations for tens of millions of dollars.

But the question remains – which NFTs are at the top? Let’s take a closer look.

Most Expensive NFTs

The Merge – $91.8 Million

On December 2, 2021, The Merge became officially the most expensive NFT ever sold, with approximately 30,000 collectors pooling their assets for $91.8 million. This is the only NFT in this top 10 list, other than the Clock, with more than one owner, and the price tag outrageously reflects this fact.

There is no question that NFTs are gaining in popularity over time; this raises a very important question: is there a limit to how high prices may go for NFTs?

If you invest your money in the correct ventures and have a little patience, you just might find yourself sitting on a nice little fortune.

The First 5000 Days – $69.3 Million

The First 5000 Days is a digital artwork by Beeple that was sold as an NFT for $69.3 million on March 11, 2021. The artwork is a collage of 5,000 individual digital images that Beeple had created for 13 years, making it a unique and comprehensive representation of his artistic career.

The sale of The First 5000 Days was historic in several ways. It was the first time that a purely digital artwork had been sold by a major auction house (Christie’s), and it shattered previous records for NFT sales, which had been set only weeks earlier. The sale also sparked a broader conversation about the value of digital art, the role of NFTs in the art world, and the potential for blockchain technology to revolutionise how artists are compensated for their work.

Critics of the sale raised concerns about the environmental impact of NFTs, as creating and trading them involves significant energy consumption. Others questioned whether the hype around NFTs was a bubble that would eventually burst, leaving many investors with overvalued assets.

Despite the controversies surrounding the sale, The First 5000 Days remains a fascinating and significant digital art that reflects the evolving relationship between technology and creativity. 

UkraineDAO PartyBid – $6.7 Million

The UkraineDAO PartyBid is a groundbreaking NFT sold for $6.7 million in February 2021. The NFT is unique because it represents a group ownership structure for a physical asset – specifically, a collection of 4,000 acres of Ukrainian farmland. The PartyBid was organised by a group of Ukrainian tech entrepreneurs who created a decentralised autonomous organisation (DAO) to pool funds to purchase farmland.

The sale of the UkraineDAO PartyBid was significant in several ways. It demonstrated the potential of blockchain technology and NFTs to enable new forms of collective ownership and decision-making. It also highlighted the growing interest in sustainable agriculture and the potential for blockchain technology to support more transparent and equitable food systems. Additionally, it showcased the ever-increasing influence of DAOs and decentralised governance structures in the tech and financial sectors.

The UkraineDAO PartyBid also faced some criticism, however. Some observers questioned the legality and practicality of using NFTs to represent physical assets and raised concerns about the potential for fraud or mismanagement within the DAO structure. Others argued that the high price of the PartyBid was more a reflection of hype and speculation within the NFT market rather than the underlying value of the farmland.

Despite these debates, the UkraineDAO PartyBid remains an important milestone in the evolution of blockchain technology and the growing role of decentralised governance structures in various industries.

Clock – $52.7 Million

The Clock is an NFT sold for a record-breaking $52.7 million in March 2021. Created by the artist Mike Winkelmann, who goes by Beeple, The Clock is a unique and complex digital art that features a constantly changing collage of images, animations, and soundscapes.

The sale of The Clock was significant in several ways. It shattered previous records for NFT sales and highlighted the growing interest in digital art as a viable investment asset. The sale also underscored the potential of NFTs and blockchain technology to enable new forms of ownership, monetisation, and authentication for creators of all kinds.

The Clock itself is a testament to Beeple’s creativity and technical prowess. It features over 13,000 individual frames created in over a decade. The frames are algorithmically generated, meaning that each viewing of The Clock is unique and cannot be replicated.

Despite the high price tag of The Clock, the sale was not without controversy. Some critics raised concerns about the environmental impact of NFTs, as the process of creating and trading them consumes significant amounts of energy. Others questioned the long-term value of NFTs and whether the current market hype is sustainable.

Regardless of these debates, The Clock remains a fascinating and important piece of digital art that represents a new frontier in the intersection of art, technology, and finance. Its sale has inspired many other artists and collectors to explore the potential of NFTs as a means of supporting and celebrating creative expression in the digital age.

HUMAN ONE – $28.9 Million

HUMAN ONE is a digital artwork created by the artist Pak and sold as an NFT for $28.9 million in March 2021. The artwork is a single pixelated figure that represents the essence of humanity. 

It was sold at a Christie’s auction and became the third-highest-priced NFT ever. HUMAN ONE is an example of how the NFT market is transforming the art world and redefining the value of digital art.

CryptoPunk #5822 – $23.7 million

CryptoPunk #5822 is a collectable character from the CryptoPunks series, which are 10,000 unique 8-bit characters on the Ethereum blockchain. CryptoPunks are considered the first NFTs in high demand, with some selling for millions of dollars. 

In March 2021, CryptoPunk #5822 was sold for $23.7 million, making it one of the highest-priced NFTs ever. The high prices of CryptoPunks highlight the growing interest in digital collectables and the potential for NFTs to disrupt traditional markets.

Right-click and Save As Guy — $7.08 million

The “Right-click and Save As Guy” is a digital artwork created by the artist Beeple and sold as an NFT for $7.08 million in February 2021. The artwork depicts a figure holding a sign that says, “buy this for the meme.” 

The sale of the artwork was a significant milestone for the NFT market, as it showed that digital art could have tangible value and be considered a legitimate investment. The “Right-click and Save As Guy” also demonstrates the power of internet culture and memes in driving the popularity of NFTs.

“Stay Free” by Edward Snowden – $5.2 million

“Stay Free” is an NFT artwork created by the former CIA employee and whistleblower Edward Snowden, sold for $5.2 million in April 2021. The artwork is a digital representation of a US court ruling that found the National Security Agency’s mass surveillance program unconstitutional. “Stay Free” is an example of how NFTs can be used for political and social commentary and how they can bring attention to important issues.

Beeple’s Crossroads — $6.6 million

Beeple’s “Crossroads” is a digital artwork sold as an NFT for $6.6 million in December 2020. The artwork is a compilation of 5,000 images that Beeple created daily for 13.5 years. 

The sale of “Crossroads” marked a significant moment for NFTs, showing that digital art could be valued similarly to traditional art forms. Beeple’s success also demonstrates the power of social media in driving the popularity of NFTs, as he has gained a large following on platforms like Instagram and Twitter.

FAQs

Who owns the most expensive NFT?

The most expensive NFT ever sold is The Merge. It was created by an anonymous artist Pak. It was sold for $91.8 million in December 2021. It has inspired many other artists to explore the possibilities of NFTs and blockchain technology to earn a more equitable share of the profits generated by the art market.

Where can I buy NFTs?

There are multiple ways to buy an NFT. Currently, the largest is OpenSea, which primarily uses Ethereum but also supports more than 150 other payment tokens. NFTs can also be purchased on platforms like Nifty Gateway and SuperRare.

What’s the cheapest NFT you can buy?

The cheapest NFTs can range from a few cents to a few dollars, depending on the platform and the artwork. It also depends on who made it. There are artists whose NFTs are selling for thousands of dollars.

Who owns the most expensive NFT ever?

The most expensive NFT is The Merge, which is currently owned by 30,000 collectors pitching together for $91.8m. It’s the most expensive NFT since the First 5000 Days, which is a digital work of art created by Mike Winkelmann, known professionally as Beeple.

Is it illegal to screenshot an NFT?

It is not illegal to screenshot an NFT, but it does not mean you own the artwork or its rights. The NFT’s ownership is still tied to the blockchain, and holding the NFT gives you proof of ownership.