NFTs means non-fungible tokens and they contain a unique digital identifier that cannot be replicated in any way. An NFT can be in form of art, music, games, video, and more as long as it is available digitally. One of the biggest examples of NFTs sold in form of music is the Tory Lanez Album; When It’s Dark, which sold over One million copies and generated a revenue of over $50,000, in this blog post we will talk about the 3 Most Expensive NFTs Sold in 2022.
NFTs work like replicas of physical art but are represented digitally, it varies depending on its type of classifications; it could be a piece of art, a video, or even a house (real estate) but the big catch is that they are all represented digitally. They are secured with blockchain technology and buying and selling require a digital currency like Bitcoin, Ethereum, Solana, and more as a means of exchange. The prices of NFTs are connected to cryptocurrency value flows.
Since 2014, NFTs have continued to gain wide publicity and it has become a popular way to buy and sell digital artwork, the NFT market has grown to about $3.0 billion in value since 2022 and it is expected to reach $13.6 billion in 2027.
Most people buy, collect and trade NFTs as a means of investment because of the profit margin in it. I mean, they are the new kind of money, and here are the 3 Most Expensive NFTs Sold in 2022;
1. Cryptopunk (#5822)
Worth over $23.7 million
This piece is from the Cryptopunk NFT collection by Larva Labs and it is one of the rarest and most expensive NFTs sold till date. This unique art, with a man wearing a slightly dark-blue bandana, was sold for 8,000 ETH which is approximately $23.7 million on February 12, 2022.
The seller of this art piece is unknown but the buyer is Deepak Thapliyal; founder of Chain-a blockchain-based technology company that provides financial products and Web3 services.
The Cryptopunk NFT collection contains over 10,000 avatars with just 333 of these avatars wearing a bandanna, which makes Cryptopunk #5822 a rare NFT in this collection. The collection was created in 2017 and since then it has given birth to lots of other NFT collections with different art styles.
2. First 5000 Days
Worth over $69.3 million
This NFT piece is also one of the 3 most expensive NFTs sold in 2022 so far. This art was created by Michael Winkelmann, a digital artist known as Beeple. Michael worked on this art piece by creating a collage of tiny images for over 13 years, one image represents each day in his career and it also depicts Michael’s growth which justifies the exceedingly expensive price for this piece.
The art piece was sold for 423,295 ETH which is approximately $69.3 million on February 21, 2022, at the Christie’s auction house; New York to Vignesh “Metakovan” Sundaresan; founder of Coin-E and Metapurse; an online crypto exchange platform who was initially anonymous but later revealed his identity.
Some of the other NFT projects by Michael Winkelmann; Beeple is the Ocean Front ($6 million), and Crossroads ($6.6 million).
Worth over $52.74 million
This piece was developed and created by Pak and Julian Assange. It was created as a means of revenue generation to clear WikiLeak’s founder; Julian Assange’s legal fees after he was arrested. he project was supported by lots of crypto and NFT advocates.
The NFT piece which doesn’t resemble a clock but has a deep impact on timekeeping was sold for 16,953 ETH which is approximately $52.74 million to AssangeDAO and was donated to Wau Holland Foundation, the foundation that works in Assange’s defense by Pak.
- What marketplace is the best to sell an NFT?
OpenSea, this NFT marketplace was launched in 2017 and since then grown to become one of the biggest NFT marketplaces.
- Who is buying NFTs
These digital assets are purchased by individuals, organizations, and sometimes communities.
- What exactly are NFTs used for?
They are digital assets like images, videos, and music and they can be sold and traded efficiently and securely using blockchain technology
- Is NFT a good investment?
YES, these collections of digital assets are the best investment choice you could ever make