- >Beeple, Cryptopunks and Tweets: The Top 10 Most Expensive NFTs
Beeple, Cryptopunks and Tweets: The Top 10 Most Expensive NFTs
NFTs stands short for non-fungible tokens. Traded online, frequently with cryptocurrency, NFTs are digital assets representing real-world objects like art, music, in-game items, and videos. NFTs are generally encoded with the same underlying software as many cryptos.
The key characteristics that define NFTs are non-interoperability, indivisibility, indestructibility, and verifiability. These features have made NFTs a revolutionizing product, especially in the games and collectibles space. According to the data available at the time of drafting this report, the monthly volume of NFT sales had crossed the mark of US$323 million.
Not all NFTs can fetch an equal quantum of value from the market. Here, in this article, we would look at the top 10 most expensive NFTs of all time (at least so far).
CryptoVantage Staff | May 14, 2021
“Everydays - The First 5000 Days” - $69.3 million
The digital artist Mike Winkelmann is known as Beeple. The NFT of his artwork, titled Everydays: The First 5000 Days, was sold by the globally revered auction house Christie’s for 69,346,250, or more than $69.3 million. The deal was closed on 11th March 2021.
In May 2007, Beeple set out on a mission to create and post a new work of art online every day. Not missing a day since he set out on the mission, Beeple produced artwork for every 5,000 days straight. In his ‘Everydays: The First 5000 Days’, Beeple stitched together recurring themes and color schemes from those 5,000 artworks to create an aesthetic whole.
The auction’s winner gets a digital file and some rights to present the image. Winkelmann will work with the buyer to find various ways to display the piece physically as well.
CryptoPunk#3100 and #7804 – $7.58 and $7.57 Million
The Cryptopunks are the first-ever NFTs on Ethereum. They are 10,000 unique collectible characters where no two are exactly alike, and each one of them can be owned by a single person on the Ethereum blockchain. Among these 10,000, only 9 are aliens.
Cryptopunk#3100 is one of these nine alien punks that fetched a selling price of $7.58 million. The punk is currently owned by the address 0x7b8961. Cryptopunk#7804, another alien punk from the series of 9, fetched a price of $7.57 million, only 0.01 million less than Cryptopunk#3100.
Crossroads by Beeple – $6.6 Million
Crossroads is another artwork by Beeple that sold for $6.6 million at the Nifty Gateway. Nifty Gateway is an online cryptocurrency marketplace for digital art. Crossroads evolved as an art piece designed as a response to the 2020 presidential election. The digital piece was designed in a way that – depending on the election’s outcome – either a video featuring a victorious Trump or a despondent Trump would play. The artwork came as a blockchain-authenticated non-fungible token. The buyer gets an encrypted image or video file with the assurance of a digital signature signifying the authenticity of the work.
Jack Dorsey’s First Tweet – $2.9 Million
Within two weeks of Twitter founder Jack Dorsey deciding to sell his first tweet as an NFT, it secured a price of $2,915,835.47, more than $2.9 million. The winning bidder was Sina Estavi. The platform Valuables by Cent handled the bid. It is a platform that specializes in letting people make offers on tweets signed by their original creators. On March 21st, 2006, the first tweet that Dorsey made read this: “just setting up my twttr”.
According to reports, Sina Estavi made the payment using Ether. Converted in Ether, the amount came to 1630.5825601. Dorsey, as promised earlier, converted the bid amount into Bitcoin and donated it to GiveDirectly – a charitable organization, for its Africa Response program.
Sina Estavi, as the winning bidder, got a digital certificate of the tweet, signed and verified by Dorsey. As per Valuable by Cent’s policy, 95% of the bidding amount goes to the tweet’s original creator, and 5% goes to Valuable by Cent.
Cryptopunk#3011 – $1.76 Million
Among the 10,000 Cryptopunks, there are 6,039 male punks. Cryptopunk 3011 is one of the male punks. On April 27th, 2021, the Cryptopunk was sold by the address 0xc05488 to the address 0xab61cc for $1.76 million. Later it was transferred from the address 0xab61cc to the address 0xe30161. 0xe30161 is the current owner.
When Cryptopunks was originally conceptualized, they could be claimed for free by anybody with an Ethereum wallet. All 10,000 punks were claimed quickly. If anyone wants to have them now, they would have to purchase them from the Cryptopunks marketplace embedded on the blockchain. Through this marketplace, one can buy, bid on, or offer punks for sale.
Cryptopunk #6965 – $1.54 Million
The sixth one on the list is again a Cryptopunk. It would be relevant to mention here that the Cryptopunks series inspired the modern CryptoArt movement. It became an inspiration for the ERC-721 standard that works as the backbone of most digital art and collectibles.
Cryptopunk#6965 is one of the 24 ape punks among the population of 10,000 crypto punks. On February 19th, 2021, the punk was sold for $1.54 million. It went from the address 0x03911f to 0x99b57c.
Axis Infinity Genesis Land Sale – $1.5 Million
On February 9th, 2021, a tweet appeared on the user handle of DANNY (@seedphrase) stating that the account owner had managed to sell an Axie Infinity genesis estate for a little over 888 ETH. In fiat, the amount was equivalent to $1.5 million. At the time of the tweet, it was the largest digital land sale ever recorded on the blockchain. Till that time, it was also the largest NFT transaction of all time.
Axie Infinity is a blockchain marketplace and gaming platform. These virtual land assets are considered to be the rarest and the best-positioned plots on Axis Infinity. Flying Falcon, one of the newest community members of the platform, closed the deal. The seller Danny had also purchased a rare Hashmasks digital artwork at a whopping price of 420 ETH or $650K a few days earlier. The virtual land assets are to be used for an upcoming game mode, known as Axie Land, or Project K.
Cryptopunk#4156 – $1.25 Million
The number eight on the list is again a Cryptopunk, sold for $1.25 million. It is one of the 24 ape punks. It was sold by the address 0x9e199d to the address 4156.eth on February 18th, 2021. The current owner of the punk has not yet listed it for a resale. There are currently no bids on it, therefore.
Cryptopunk#2140 – $1.18 Million
The ninth place is occupied by Cryptopunk again. Cryptopunk 2140 is one of the 24 ape punks. The punk was sold by the address Pranksy to the address grunar.eth. The owner put it up for sale again on April 30th, 2021, for a price of $5.24 million. There are no bids on this offer yet.
Cryptopunk# 2484 – $1.08 Million
The list of the top ten ends with a Cryptopunk. The Cryptopunk 2484 is one of the 88 zombie punks in the list of 10,000 punks. It was sold by the address 0x54d7f9 to 0xab61cc on April 19th, 2021. Subsequently, 0xab61cc did transfer it to another address: 0xe30161.
It is a fact beyond doubt that interest in NFTs and their market size – as a result – both are on a surge. In the days to come, new deals will take place, and the list will change. Yet, experts believe that the craze for NFTs, ranging from art and videos to songs and tweets, will stabilize in the second quarter of 2021, as compared to the first.
The surge during the first quarter was attributed to people spending more time online during the lockdown with more cash to spare. The momentum was further fueled by a newly evolved group of crypto-rich speculators keen to leverage digital asset price gains.
According to the data available for April, the most number of NFT sales on the Ethereum blockchain was registered under the sports category. Sports witnessed 61,428 sales, followed by games (20,269), Metaverse (7,860), Collectibles (5,181), and Art (4,727).
In April, a total of 324,000 unique buyers participated in NFT trades, which was up by 30,800 from January. But what indicated a dip in the total sales volume in April was that the average purchase price dipped. The average sale price in April was $65, compared to $157 in March and $182 in February. Therefore, while it is true that the volume of NFT sales has stabilized after the first quarter, the participation numbers have not gone down at all.