Whether you’re interested in the world of NFTs or not, there’s a good chance that the news of a high-value sale may have piqued your interest. Which NFT sold for $69 million? Let’s investigate…
NFTs are conquering the world of digital art and collectibles at breakneck speed. As you’d expect, these mouthwatering sales to a new and expanding crypto-audience are transforming the lives of digital artists that were creating such pieces before they’d ever dreamed of them being worth as much.
Although it may seem as such to begin with, this digital art is only one use of NFTs, as they may be used to show ownership of any one-of-a-kind thing, such as a digital or physical deed.
A token that is not fungible is referred to as a “non-fungible token.” Non-fungible is a term used in economics to describe items such as furniture, audio files, and computers. Some commodities cannot be replaced by other objects due to their unique characteristics.
NFTs are digital tokens that are used to indicate, not exactly possession, but ownership of one-of-a-kind goods. They enable us to tokenize items like artwork, valuables, and even real estate. NFTs can only have one official owner at a time, and they are noted within the Ethereum blockchain as such, which means no one can change the ownership record or create a new NFT.
The value of NFTs, like with art, can vary significantly. Perceived value plays a huge role, but there are other elements, too, which can include some very small details, celebrity endorsement and more. How valuable can they be exactly?
Which NFT Sold For $69 Million?
Last March, one of Mike Winkelmann’s (also known as Beeple) NFTs sold for $69 million at Christie’s auction house, placing him amongst the world’s richest living artists.
After months of more pricey auctions, the NFT sale set a new record. Winkelmann sold his first round of NFTs in October, with a pair selling for $66,666.66 apiece. He sold a collection of artwork for $3.5 million in December. One of the NFTs that initially sold for $66,666.66 was resold for $6.6 million not long after.
There are a number of reasons why Beeple’s work has become so useful. For starters, he’s amassed a sizable fan following, with over 2.5 million followers across various social media platforms. Winkelmann is also known for his prodigious output: every day for the past fifteen years, as part of a project called “Everydays,” he makes and releases new digital artwork.
What’s incredible, is that this isn’t even the highest value NFT sale to date.
The 5 Highest Value NFT Sales
Since its introduction, the value of non-fungible tokens (NFTs) has increased rapidly.
Check out the most expensive NFT sales to date, starting with Pak’s “The Merge,” which sold for just shy of $100 million and is so far the most expensive NFT ever sold.
1. The Merge
By selling for a total of $91.8 million, The Merge became the most expensive NFT ever sold on December 2, 2021, with over 30,000 collectors putting in their money.
Due to its high price tag, this is the only NFT in our top 5 list that has a significant number of owners, apart from Clock.
2. The First 5,000 Days Of Beeple’s “Everydays”
There’s a reason why this Beeple piece is the most costly NFT ever sold to a single owner.
People in the community love Beeple’s work so much that this sculpture is essentially a collage of 5000 of his pieces, as we said before. In 2007, he made a promise to make one piece of art every day. The result is this incredibly high value NFT.
‘Everydays’ sold for $69 million last December.
‘Clock,’ a collaboration between Pak and Julian Assange, virtually functions as a clock, recording the days that WikiLeaks founder Assange has been detained.
The NFT was acquired by AssangeDAO – a group of over 10,000 individuals pooling their money to buy the NFT and support Assange — with the objective of raising cash for Assange’s legal defence.
4. Human One
In our list of the most costly non-fungible tokens ever sold, Beeple makes yet another appearance.
An interview with Christie’s Auction House revealed that Human One sold for just under $30 million on November 9, 2021, and is closely tied to the artist’s previous work, ‘Everydays’.
Beeple’s Human One was sold for a total of $28,985,000, which was the actual sum paid.
5. Cryptopunk 7523
7523 is the third rarest in the collection, with a price tag to suit.
The CryptoPunks are a compilation of 10,000 very unique characters created at random. Each one is unique, and it can only be formally held by a single individual on the Ethereum blockchain.
Originally, anybody with an Ethereum wallet could claim them for free, but all 10,000 were immediately grabbed. They must now be acquired from a third party via the blockchain-based marketplace.
Cryptopunk 7523 features a pixelated man wearing a mask, which seemed to mean a lot to art fanatics during covid as it fetched $11.75 million at auction.
Where Can NFTs Be Purchased?
The majority of NFTs are bought using ether (ETH), the Ethereum network’s native currency, which can be exchanged from US dollars on exchanges like Coinbase, Kraken, and Gemini.
NFTs are often sold using an auction mechanism, in which you place a bid on the NFT. Some websites, such as OpenSea, allow you to purchase the NFT right now for a predetermined fee.
Although Christie’s Auction House in London has handled some of the most valuable NFT transactions, there are many more locations to look for and purchase NFTs.
Mintable, Decentraland, Valuables, Async, and others are among the most popular NFT online retailers.
Jake McEvoyJake is a professional copywriter, journalist, and life-long fan of technology. He covers news and user guides for KnowYourMobile.
Do NFTs Go Up In Value?
NFTs seem to be all the rage within the investment sector, but are they really worth investment? Do they increase in value and how do they do so? Let’s investigate…
Do NFT Creators Get Royalties?
Over the last 12 months or so, the news has featured a few particularly high NFT sales. When these sales are made, do the creators of the artwork continue to receive royalties? Or do they only make money from the initial sale? Let’s investigate…