Last Updated on April 28, 2023 by Editor Futurescope
In the modern world, it appears that we are constantly witnessing the effects and impact of technology. One result of technological developments is the creation of blockchain technology which is one that facilitates the digital exchange of units of value. While there are many aspects to blockchain technology including cryptocurrencies, NFTs have in particular have become popular in recent years. As NFTs use the same blockchain technology as some cryptocurrencies, it is worth taking a look at some of the most famous NFTs.
Firstly, an NFT is a digital asset that represents real-world objects such as art, music, in-game items and videos. Technological developments have also facilitated a new era of digital basketball collectibles in the form of non-fungible tokens (NFTs). This fuses together an experience that is similar to collecting traditional sports trading cards with the blockchain technology used in other NFT platforms. NFT drops are now big business as it is way more secure when buying, selling and trading than it was when it first became a craze, which decreases the likelihood of fraud in a big way.
One famous NFT is Quantum which is a colorful animated image created by Kevin McCoy on the Namecoin blockchain. Not only is it visually striking, but it is the first NFT ever to be made and has paved the other way for other NFTs. Its success is clear to see as it was sold for the equivalent of $1M at Sotheby’s in 2021. This octagon-shaped animation has also been instrumental in facilitating other artists to express themselves through their through through NFTs on the Ethereum blockchain. As these tokens can be bought, sold and traded just like physical art, the artists will be fully credited with rights and ownership. This NFT was also the first of many to allow artists to monetize and make money from their digital creations and to make a name for themselves by getting their work out there on a viable platform.
Furthermore, in the world of NFTs, Mike Winkelman, otherwise known as Beeple is a popular name. His NFT Crossroad sold for $66,666 to collector Pablo Fraile. Four months later, it it was then bought over by a nameless collector anonymous10. This creator has been so successful as he is one of the first digital art creators who made a name for himself in the NFT arena. In March 2021, Beeple broke all records and topped the charts for having sold the most expensive and famous NFT art. The piece, titled Everydays: The First 5000 Days, took 13 years to be made and is a collage of 5,000 small NFTs. It was the first of its kind to be sold by the well known auction house Christie’s for an impressive price of USD 69,346,250. He also found success in other works from the Everydays collection which also generated a lot of money. A lot of his success is generated by the fact that he is such a creative and innovative thinker who likes to push boundaries with his art which subsequently pushes other artists to do the same. Created by Pak, The artwork “The Merge” is another incredibly famous NFT sold for a colossal amount of $ 91.8 Million via Nifty Gateway. An interesting fact about this NFT was that it was not acquired by one buyer but rather 29,983 people which saw it being split into 312,686 coins distributed to buyers.
Moreover, it is important to note that once NFTs began to take off, many began experimenting with the genre. Profile Pictures (or PFP) is a big NFT trend, and many who are new to the industry strongly link Non-Fungible Tokens with such avatars. CryptoPunks is one of the most well known projects in this sub-genre and paved the way for others in its place. Matt Hall and John Watkinson were credited as the contributors for CryptoPunks and then let AI combine them into 10,000 avatars. CryptoPunks are divided into series, and some of them are more limited than others. For example, Zombie and Alien CryptoPunks are categorised as rare, so they are deemed some of the top NFTs. CryptoPunks NFT #2924 for instance sold for nearly $4.5 million worth of ETH today.
Top 5 Famous NFT Sales of All Time
1. Beeple’s “The First 5000 Days”
Beeple’s “The First 5000 Days” is the most expensive NFT ever sold. The artwork was sold for $69.3 million in March 2021 at Christie’s auction house. The NFT is a digital collage of 5,000 unique images that Beeple created over 13 years. The artwork is a representation of Beeple’s artistic journey and is considered a landmark moment in the history of NFTs.
2. CryptoPunk #3100
CryptoPunk #3100 is a rare NFT that was sold for $7.5 million in May 2021. The NFT is part of the CryptoPunks collection, which is a series of 10,000 unique 8-bit characters created by Larva Labs. CryptoPunk #3100 is one of only nine “alien” punks in the collection, making it a highly sought-after NFT.
3. Everydays: The First 5000 Days by Beeple
Beeple’s “Everydays: The First 5000 Days” is another NFT that was sold at Christie’s auction house. The artwork sold for $69 million in March 2021, making it the second most expensive NFT ever sold. The artwork is a digital collage of 5,000 unique images that Beeple created over 13 years, similar to “The First 5000 Days.”
4. CryptoPunk #7804
CryptoPunk #7804 is another rare NFT from the CryptoPunks collection. The NFT was sold for $7.58 million in March 2021. CryptoPunk #7804 is one of only four “ape” punks in the collection, making it a highly sought-after NFT.
5. CryptoPunk #6965
CryptoPunk #6965 is a rare NFT that was sold for $5.4 million in March 2021. The NFT is part of the CryptoPunks collection and is one of only nine “zombie” punks in the collection. The rarity of the NFT and the popularity of the CryptoPunks collection contributed to its high sale price.
Overall, these NFT sales represent a significant moment in the history of digital art and NFTs. The sales demonstrate the growing interest in NFTs and the potential for digital art to hold significant value in the art world.
Other Notable NFT Sales
Several other NFT sales have made headlines in recent years, showcasing the vast potential of this new technology. Here are a few notable sales:
1. Jack Dorsey’s first tweet
In March 2021, Twitter CEO Jack Dorsey sold his first tweet as an NFT for $2.9 million. The tweet, which read “just setting up my twttr,” was minted on the Ethereum blockchain and sold on the Valuables platform. The buyer, Sina Estavi, CEO of Bridge Oracle, now owns a digital certificate of the tweet, which remains publicly visible on the Twitter platform.
2. Grimes’ WarNymph Collection
Canadian musician Grimes sold a collection of digital artworks as NFTs for nearly $6 million in February 2021. The collection, titled “WarNymph,” features a series of animated characters and was created in collaboration with her brother, Mac Boucher. The sale included one-of-a-kind pieces as well as open editions, with some pieces selling for as much as $390,000.
3. “Forever Rose” by Kevin Abosch
In November 2018, artist Kevin Abosch sold a digital artwork titled “Forever Rose” as an NFT for 100 ETH (approximately $1,000 at the time). The artwork features a photograph of a rose and is designed to be displayed on a high-resolution screen. The buyer, a group of investors led by collector Eleesa Dadiani, also received a physical print of the artwork and the right to display it in public spaces.
4. “Right Place & Right Time” by Trevor Jones and Alotta Money
In March 2021, artists Trevor Jones and Alotta Money sold a collaborative artwork titled “Right Place & Right Time” as an NFT for $101,593. The artwork features a digital painting of a Bitcoin symbol overlaid with a photograph of a real-life location in New York City. The sale included a physical print of the artwork, as well as the NFT itself.
These notable NFT sales demonstrate the diverse range of possibilities for digital art and collectibles in the blockchain era.
In a Short…
Ultimately, as we are consistently becoming a more creative and unique society, we are always on the look out for new ways of doing things. Non-fungible tokens (NFTs) have become increasingly popular as not only are they rare and unique but they are also unlike other cryptographic assets. The realm of NFTs have come a long way from when the first ever NFT ‘Quantum’ was released as some types of NFTs are selling for millions. In the future, as we take more of an interest in NFTs, more and more people are predicted tolerant how to create NFT tokens.
