Non-fungible tokens, better known as NFTs, took the digital art and collectibles scene by storm in 2021. As cryptocurrency values skyrocketed early that year, investors and collectors began snapping up one-of-a-kind or exceptionally rare digital assets in the form of NFTs, spending exorbitant amounts of money to claim ownership.
In a matter of months, dozens of NFT artworks and collectibles began selling for millions of dollars each. Axie Infinity made a number of collectors into overnight millionaires. Bored Ape Yacht Club spawned an entire ecosystem where owning one token granted access. And digital artist Beeple broke auction records when his NFT artwork went for $69 million at renowned auction house Christie‘s.
Clearly, money had rapidly flooded into the NFT market and certain creators reaped tremendous financial rewards. But what was behind some of these hitherto unimaginable sales reaching seven or eight figure price points? In this expert guide, we‘ll delve into seventeen prime examples of the most expensive NFT sales and the stories behind them.
Overview of the Most Monumental and Costly NFT Sales
Before jumping into the individual listings, it helps to understand why these prominent NFTs in particular commanded such immense value. The record-shattering 9-figure sales stem primarily from three driving factors:
1. Inherent quality and importance of underlying work – Some fundamentally significant works like Beeple‘s 13-year collage or the source code for the World Wide Web hold tremendous cultural meaning regardless of the medium.
2. Mass hype bubbles into a frenzy – Media hype cycles and speculation drove parabolic growth and a "fear of missing out" spurring short term unsustainable prices for works like CryptoPunks.
3. Deeper purpose adding significance – Releases like Pak‘s CLOCK and Assange‘s Perspective carried weight towards promoting political causes and human rights through the emerging tech.
Now let‘s explore each of these 17 examples in detail, covering billions of dollars in combined sales volume.
1. Everydays: The First 5000 Days by Beeple – $69.3 Million
The current record holder for most expensive NFT is Beeple‘s collage of 5000 original artworks titled "Everydays: The First 5000 Days". Mike Winkelmann, better known by his alias Beeple, is an American graphic designer thriving in digital spaces like web design, concert visuals, short films and more.
[Image]Sale Price: $69.3 million
Date Sold: March 11th, 2021
Buyer: MetaKovan – Metapurse crypto fund
Dubbed the first "purely digital" artist to join auction powerhouses like Christie‘s, Beeple‘s monumental collage of 5000 images created daily for nearly 14 years marked a pivotal moment for NFT adoption. The artwork itself and its tireless creator were deemed culturally significant, while bringing renowned validity to the notion of high-value digital art.
2. CLOCK by Pak – $52.7 Million
"CLOCK" is an NFT by anonymous digital artist Pak with an instantly recognizable name and real world impact. The artwork itself is rather simple – just a basic countdown timer. But its significance lies in the timing element displayed: the number of days controversial Wikileaks founder Julian Assange has been imprisoned.
[Image]Sale Price: $52.7 million
Date Sold: December 2021
Buyer: AssangeDAO collective
Pak created CLOCK in collaboration with Assange himself while he was imprisoned in Belmarsh Prison in London after being dragged from asylum. A group named AssangeDAO crowdfunded more than $50 million to purchase the artwork as a means to fundraise for his legal defense case against extradition and human rights violations.
3. Human One by Beeple – $28.9 Million
Beeple emerges again on our list via his highly unique NFT sale of Human One, shattering records once more. Unlike a purely digital NFT, Human One is an actual physical sculpture displaying rapidly changing digital video artwork across four screens encased in an ornate metal, mahogany and glass frame.
[Image]Sale Price: $28.9 million
Date Sold: November 2021
Buyer: Ryan Zurrer – Venture capitalist
Standing at nearly 7 feet tall and weighing about 400 pounds, the kinetic sculpture grapples with themes around the past, present and future of human race and civilization. Human One‘s November 2021 sale for almost $29 million marked the highest price paid for any Beeple work and broke the record for an NFT bought by a sole individual (not a fund).
4. CryptoPunk #5822 – $23.7 Million
CryptoPunks by Larva Labs represent one of the first and most well known NFT projects cementing their prestige. These 24×24 pixel art images of fun characters serve as trophies and status symbols for collectors. Owing to their varying scarcity, CryptoPunks have soared in value with frequent million dollar sales. But #5822 currently holds the "most punk" crown after fetching $23.7 million in February 2022.
[Image]Sale Price: $23.7 million
Date Sold: February 12th, 2022
Buyer: OpenSea user transcranialmike
What makes this punk rock alien so special? It‘s one of only nine known alien punks with a minted supply of just six examples with this extraterrestrial feature. Out of ten thousand total CryptoPunks, this degree of scarcity imbues huge value. Add in the headline grabbing power as the highest ever punk sale, it enticed a record breaking eight figure sale earlier this year.
5. Ringers #109 by Dmitri Cherniak – $7.1 Million
Next on our list of top NFT sales is Ringers #109 from generative artist Dmitri Cherniak’s Ringers collection. Utilizing algorithmic digital art techniques, this series includes 1000 unique pieces with swirling colorful bands and rings animated against stark black backgrounds.
[Image]Sale price: $7.1 million
Date sold: March 2022
Buyer: 0x9f5f
The kaleidoscopic qualities and algorithmically encoded metadata ensure provable scarcity for each Ringer. High resolution versions are minted as NFTs allowing verified ownership and trading via blockchain ledger. The crown jewel thus far has proven to be Ringer #109 after its March 2022 sale propelled it to celebrity status in the NFT art world and markedly increased the floor price of others in the respected collection.
6. Right-click and Save As Guy by XCOPY – $7.1 Million
Pseudonymous artist XCOPY has risen to prominence over recent years as a trailblazing NFT creator layering thought provoking social commentary into visually arresting artwork. Their generative animation titled "Right-click and Save As Guy" pokes fun at the mentality around simply right-click saving NFT files rather than buying into token ownership.
[Image]Sale Price: 300 ETH ($7.08 million)
Date Sold: August 29th, 2021
Buyer: 0x9a07
The 8-bit glimpse shows a casually dressed gentleman seemingly speaking the classic line about right-click saving rather than buying NFT works of art. XCOPY themselves auctioned off this viral NFT via SuperRare, attracting intense bidding up to 300 ETH. This demonstrates collectors clearly got the joke but still yearned to own the influential work.
7. Crossroad by Beeple – $6.6 Million
Beeple finds himself amongst the highest grossing NFT creators once more with Crossroad. One of his iconic works, it began as part of the "2020 series" leading up to the fateful US election. Crossroad itself depicts a dystopian scene showing two distressing outcomes of the impending election framed by division and turmoil.
[Image]Sale Price: $6.6 million
Date Sold: November 2020
Buyer: Pablo Fraga – Collector
The victorious version shows an anguished, defeated Donald Trump. Beeple leaned into political uncertainty and societal friction across his pieces that year. Crossroad encapsulates that perfectly, ultimately selling for $6.6 million via Nifty Gateway while highlighting how NFT works can uniquely reflect current events in near real-time.
