What are the Most Expensive NFTs?

Non-fungible tokens (NFTs) are digital assets representing real-world objects, such as images of art, clips of music, and even digital fragrances on the internet. NFTs are purchased and sold online, frequently with cryptocurrency, and are generally encrypted with the same underlying technology as other accompanying cryptocurrencies—blockchain. Although NFTs were first brought forth in 2014, these specific assets have become increasingly popular today as a way to buy and sell digital artwork and other one-of-a-kind digital pieces. 

Usually, crypto-assets provide an infinite supply for users to buy and trade digitally. NFTs go against this standard — being non-fungible, they are generally one of a kind or are one of a limited quantity. By doing so, NFTs create a higher value for the given asset that is in demand.

 The expansion of non-fungible tokens has led it to become a billion-dollar industry—here are some of its biggest and most expensive NFTs and their influencers:

1. Everydays: The First 5000 Days

Setting the record for the most expensive NFT ever sold一likewise being one of the most expensive artworks to ever be sold一Everydays: The First 5000 Days, was auctioned for a groundbreaking $69.3 million at Christie’s. This was the first time Christie’s, the auction house, had ever sold a purely digital piece of artwork. By Mike Winkelmann, also known as “Beeple,” the collage boasts of 5,000 of his earlier works that consist of pop culture figures and other original drawings arranged chronologically.

2. CryptoPunk #7523

Being one of nine “Alien” CryptoPunks, this specific NFT sold for exactly $11.75 million titled: CryptoPunk #7523. Shalom Mechenzie, an Israeli entrepreneur who is the largest shareholder of sports-betting platform Draft Kings, is the proud owner the unique digital piece of a “punk” wearing a a red cap, gold earrings and a medical face mask一the only one of its kind.

3. CROSSROAD

Also created by Beeple, CROSSROAD is a GIF that initially sold for $6.66 million. The work exemplifies a Donald Trump-like figure laying in a field of trash covered in hate speech. People walk by unfazed, and butterflies surround them. It is said that the fate of the NFT would lie on the victor of the 2020 U.S. presidential election一had Trump won, the NFT would have been him wearing a crown waltzing through flames.

4. Doge

The world-famous meme known as Doge—later having a cryptocurrency based on the image called Dogecoin—was sold by the owner of the beloved Shiba Inu dog for approximately $4 million. The NFT sale took place on the digital auction site Zora, where it sold in just three days.

5. The first Tweet of Jack Dorsey

Jack Dorsey, CEO of Twitter, sold an NFT of his first ever tweet 一also being the first ever Tweet on the app一for $2.9 million after being auctioned throughout March 2021. Dorsey shared that all proceeds would be given to the charity GiveDirectly, a non-profit organization located in East Africa assisting families in extreme poverty.

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