NFTs have been around for a while but took the world by storm in 2021, and one of such reasons is some of the sales made below – which we will see shortly. Over the years, many NFTs have been created and sold. Interestingly, some of these are worth millions of dollars, not in the creativity or artistry of the work many times, but more about the value every bidder and stakeholder chooses to ascribe to it. These values can change at any time and affect the worth of the NFT, as the immediate NFT below will show. Here are some of the most significant NFT sales of all time
What are 5 of the Biggest NFT Sale
- The First Tweet
The first tweet NFT is precisely what it sounds like: the first tweet by Jack Dorsey, co-founder and former CEO of Twitter, now known as X. In 2021, Sina Estavi bought Jack Dorsey’s first tweet as an NFT for $2.9 million, marking a significant moment in social media history. However, just two years later, the same NFT was barely worth $10, totaling $3.77. All efforts to sell the NFT at a price remotely close to what Estavi purchased it for have been futile. Experts offer different reasons for the decline in NFT values, with some attributing it to the decrease in valuation since 2021 while others blame the company’s managerial issues and Jack Dorsey’s resignation.
- The Clock
The Clock is a depiction that uniquely connects with Julian Assange, an Australian editor and the founder of WikiLeaks. Julian Assange was arrested in 2019 in Ecuador and was imprisoned for a while.”An NFT called The Clock was created, depicting the number of days that Julian has spent incarcerated. This project cost a staggering $52.8 million, making it one of the biggest NFT sales. This sale not only highlighted the power of NFTs in raising funds for a cause but also brought attention to the plight of Julian Assange. The proceeds from this sale went into
- Crypto #5822
The total sale worth for crypto #5822 was about $24 million. This sale is officially one of the most significant NFT sales of all time, and Deepak Thapliyal, the CEO of the blockchain platform Chain, purchased it. Yuga Labs, the reputed creator of the Bored Ape Yacht Club collection, created the NFT.
- Everydays: The First 5000 Days
Created by Mike Winkelmann (Beeple), Everydays: The First 5000 Days was a collage of 5,000 images showing the artist’s creative journey for over 13 years. The NFT went on to be sold for $69.3 million at an auction. This particular sale was unique because it was sold and valued at an action like any other physical art.
- The Human One
The Human One NFT was sold for $28.9 million and featured a series of humanoid figures in various settings. This NFT was bought by an online bidder and featured a 7-foot sculpture that depicted a dystopian image hosted on the Ethereum blockchain. It was said that Mike Winkelmann, the author of the NFT, called it the ‘first portrait of a human born in the metaverse.’Â
Frequently Asked Questions
What determines the value of an NFT?
Its rarity, the popularity of its creator, and its historical and subjective significance
How can I verify the authenticity of an NFT?
Via the blockchain, which records ensures that each NFT is unique and owned by a specific individual​
Can NFTs be a good investment?
NFTs can be a high-risk, high-reward investment
What are the most expensive NFTs ever sold?
Some of the most expensive NFTs include Beeple’s “Everydays: The First 5000 Days” and Pak’s “The Merge,” which have sold for tens of millions of dollars​
Where can I buy major NFTs?
Are there any legal considerations when buying or selling NFTs?
- Yes, buyers and sellers should consider anti-money laundering laws and ensure compliance with any necessary regulations, especially when high-value assets are involved​ (The National Law Review)​.
What is the environmental impact of NFTs?
NFTs can have significant environmental impact due to the energy used in transactions and minting​
Conclusion
Indeed, it is an exciting world, and NFTs are a part of it. Quick research will reveal the current values of many NFTs and help you fine-tune your decision to invest or trade in one or two of them.
