COVID-influenced times, one reason why it was snapped up in Sotheby’s “Natively Digital” auction for a whopping $11.8 million by DraftKings’ largest shareholder, Shalom Meckenzie.
“I really wanted this particular CryptoPunk,” Meckenzie told Decrypt. “It is part of the alien collection, which is the rarest of the punks, and the only alien that has a mask. I thought it was symbolic of Covid and the popularization of NFTs.”
6.TPunk #3442: $10.5 Million
The success of CryptoPunks has fueled an array of knock-offs, and just about every blockchain platform that has NFTs has a version of Punks—from Solana to Stacks, Algorand, and beyond.
Even Tron has its own CryptoPunks copycat, and while TPunks NFTs typically don’t sell for much—the cheapest-available is just $130 as of this writing—this one in particular netted an enormous sale.
Nft price history
There’s no guarantee that your NFT collection will be worth the same or more money when you come to sell it.
So if you’re going to invest in NFTs, remember that it’s highly volatile and incredibly risky.
It’s also easy to get hacked and have your NFTs stolen, especially if you don’t have the best cyber security.
Finally, if you’re going to buy NFT, you need to make sure that it’s actually worth the money.
Not all NFTs are worth paying for and a lot of artists are just creating hype to earn a quick buck.
So, before you buy NFT, make sure that you do some real homework on the artist.
If you do this, then you can make sure that when you buy NFT you’re getting a good deal on a good piece of art!
What’s the point of investing in NFTs?
NFTs come in all shapes and sizes, but most don’t really have a purpose.
Cryptopunk nft price history
But, this parameter can only be set when minting the NFT.
So you wouldn’t be able to buy a Beeple for $1 million then mint 100 more of them and sell them all for $1 million each.
You could create your own run of NFTs and sell them as part ownership of your $1 million Beeple, however.
While we’re on this subject, it’s worth pointing out that just because you decided to buy NFT doesn’t mean others can’t enjoy it… or use it.
Let’s say you buy a Beeple for $1 million.
Great, it’s all yours and you own it.
But, people can still see the image online.
There’s absolutely nothing stopping anyone from downloading the artwork from the internet and enjoying it themselves.
Sure, they wouldn’t own the official NFT, but there’s nothing stopping them printing it out and hanging it on their wall at home.
Nft floor price history
Individual Bored Ape Yacht Club NFTs have recently sold for millions of dollars’ worth of Ethereum, and most have fetched hundreds of thousands of dollars.
— Market capitalization: $2.04 billion
It’s no surprise that the CryptoPunks collection is among the most valuable NFT collections, given that two CryptoPunk NFTs are among the top five most expensive NFTs ever sold. CryptoPunks is a collection of 10,000 pixelated, 8-bit style portraits designed by LarvaLabs, each sporting a unique combination of accessories.
Mutant Ape Yacht Club
— Market capitalization: $1.14 billion
Half of the 20,000 NFTs that form the Mutant Ape Yacht Club collection are tied to Bored Ape Yacht Club.
Solana nft price history
It also allows you to take advantage of any marketing the previous owner had done.
The hype and interest will still be there, so if you try to trade your new NFT immediately, you should be able to piggyback on this.
Are NFTs bad for the planet?
The amount of energy that blockchain consumes every year is a hot topic at the moment.
So it’s only natural that people care about the impact that NFTs are having on the planet.
Right now, Ethereum is the hottest blockchain for NFTs, and it’s still using Proof-of-Work as its consensus mechanism.
This involves using swarms of computers to mine blocks and allow the NFT ecosystem to continue working.
This consumes an awful lot of electricity, which often isn’t sourced from the best places.
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Despite fluctuating prices, NFTs grew more popular and moved toward the mainstream. Artists and developers pushed the boundaries of what’s possible with NFTs as an artistic medium. Efforts to conceptualize and build the metaverse with NFTs as a foundational element picked up steam.
In each of these areas a significant amount of money was exchanged, and interest, as measured by dollars, grew by levels of magnitude in 2021.
What does that mean for the future of NFTs?
From a skeptic’s point of view, long-term, mainstream use cases for NFTs are still largely unproven.
Aurory nft price history
But then 4156 gained popularity by becoming a thought leader in the space, and eventually launching Nouns, an NFT project that is building open-source IP.
Over the course of the year, 4156 became disillusioned with CryptoPunks due to the creators’ handling of commercialization rights and attempts to snuff out derivative projects. Ultimately, 4156 moved on, selling the NFT for about 8x the USD value in less than a year.
8.CryptoPunk #5577: $7.7 Million
The second-highest CryptoPunks ape sale came in February 2022 with the sale of CryptoPunk #5577 for 2,501 ETH, worth $7.7 million at the time.
Bored ape nft price history
Non-fungible tokens, or NFTs, are changing the way we think about art—and investors are starting to take notice.
In the last year, NFTs have shot to the forefront of the crypto space. The cryptographically-unique tokens make it possible to create real-world scarcity for digital objects, and artists have seized on the opportunity presented by the technology.
The NFT market exploded in 2021, generating some $25 billion worth of trading volume, and the momentum hasn’t slowed so far this year. This list collects the 15 priciest single-NFT sales to date (in U.S.
dollars), ranging from Beeple’s single-edition pieces to an array of CryptoPunks avatars—all of which have happened over the last year, as of this writing.
Check back often, as we’ll be updating this list with new entries as even more jaw-dropping NFT sales make headlines.
Axie infinity nft price history
This ape has a cowboy hat and is believed to have been purchased by Robert Leshner, CEO of Compound Finance.
9.CryptoPunk #7804: $7.56 Million
Dylan Field, the CEO of design software company Figma, is behind the sale of the fifth-most expensive NFT in history—CryptoPunk #7804. The NFT sold for a cool 4,200 ETH in March 2021, at the time worth just over $7.5 million.
Another one of just nine alien CryptoPunks, it also sports three accessories: a forward cap, shades, and a pipe. Indeed, it’s the only alien CryptoPunk to have a pipe or a forward cap.
10.CryptoPunk #3100: $7.51 Million
We weren’t kidding when we said there are a lot of CryptoPunks in this list.
Axie nft price history
HUMAN ONE” can be updated by Beeple at any time, a unique twist given that art, even in the digital space, is traditionally static.
“CryptoPunk 7523,” $11.8 million
— Artist: Larva Labs. Year created: 2017.
Auctioned through Sotheby’s, “CryptoPunk 7523,” also known as “Covid Alien,” is a 24×24 pixel portrait of a blue alien with a gold earring, beanie, and medical mask. It is one of nine Alien Cryptopunks, each following the same 8-bit style and featuring different accessories.
“CryptoPunk 3100,” $7.7 million
— Artist: Larva Labs.
Year created: 2017.
Another of the nine Alien Cryptopunks, “CryptoPunk 3100” sports a simple headband with single horizontal blue and white stripes.
Azuki nft price history
The point was to show Indians and people of color that they, too, could be patrons, that crypto was an equalizing power between the West and the Rest, and that the global south was rising,” Metakovan explained.
The second-highest bidder on the piece was none other than Tron CEO and founder Justin Sun, who bid a whopping $60.2 million before getting sniped at the last second by Sundaresan.
2.Clock: $52.7 Million
Here’s a collision of a few hot industry topics: NFTs, decentralized autonomous organizations (or DAOs), and crypto-fueled fundraising. Clock is an NFT created by artist Pak, who is known for using novel token models and gamification to fuel his popular NFT projects.
The dynamic NFT shows the total number of days since WikiLeaks founder Julian Assange was imprisoned.
Bored Ape Yacht Club is fantastic at this, with most of the community being highly active in a Discord server.
It’s these communities that help NFTs and their creators become popular and thrive.
Now, that being said, there are some NFTs that you can actually use and play with.
For example, in Decentraland you can buy NFTs and attach them to your avatar.
These range from unique t-shirts and hats to drinks and food.
You can also buy property and other items in the game, all of which are NFTs.
But again, if you buy a specific tee because of the design, but then the design becomes less desirable, you’ll lose money on that NFT purchase.
There are more games coming out that let you use NFTs, but for the most part, NFTs are just for collecting and storing in your crypto wallet.