Top 10 Most Expensive NFTs Ever Sold

Key Takeaways

The world of non-fungible tokens (NFTs) has rapidly become a multi-billion-dollar industry, reshaping the landscape of art, digital collectibles, and even how we perceive ownership. NFTs have transformed how creators and artists monetize their work, giving rise to a new era of digital ownership. According to DappRadar, the NFT market just had its best quarter since early 2023 and it shows no signs of slowing down. 

In this article, we’ll explore the top 10 most expensive NFTs sold to date, explain their high prices, and look at some additional use cases for NFTs.

10 Most Expensive NFTs Sold to Date (2024)

The world of NFTs has witnessed extraordinary sales, with some digital assets fetching prices that rival the most expensive traditional artworks. 

Non-fungibles have made global headlines with their burgeoning digital communities and staggering price tags, ushering in a new chapter for art, culture and collectibles. But among the expaanse of tokens and collections, which are the most expensive NFTs ever sold? Let’s take a deep dive.

#1: The Merge – Pak – $91.8 million

The Merge is the most expensive NFT ever sold, fetching a total of $91.8 million in December 2021. The author is no other than the famous Pak, an artist whose identity remains a mystery. Pak became famous in the NFT sector for challenging people’s logic with his art. The Merge was no exception.

Unlike traditional NFTs, The Merge wasn’t a single image or video but a dynamic digital artwork that allowed buyers to purchase “masses.” The more masses a user purchases, the larger their unique Merge NFT would grow. Nifty Gateway hosted the sale and saw over 28,000 collectors, making it one of the most innovative and record-breaking NFT events.

However, the classification of The Merge is open to interpretation, as it depends on whether it is viewed as a single artwork or a collection of individual pieces. With $91.8 million in sales, it managed to surpass the previous record for a work of art sold by a living artist. Jeff Koon held the record with his sculpture Rabbit, which sold for $91.1 million in 2019.

#2: Everydays: The First 5000 Days – Beeple – $69.3 million

In March 2021, Beeple’s “Everydays: The First 5000 Days” made history by fetching $69.3 million at an auction in Christie’s. This singular NFT is a digital collage of 5,000 individual images. Beeple (real name Mike Winkelmann) created The First 5000 Days over more than 13 years, adding a new image every day. 

The artwork represents a unique time capsule of Beeple’s evolution as an artist and the cultural and global moments he captured throughout the years. The sale was significant because it marked the first time a major auction house (Christie’s) sold a purely digital NFT, dragging non-fungibles firmly into the mainstream consciousness. Unsurprisingly, the period that followed the sale  in 2021 saw a massive surge in NFT sales and overall value.

#3: Clock – Pak & Julian Assange – $52.7 million

“Clock” by Pak and Julian Assange sold for $52.7 million in February 2022. This NFT was a collaborative effort by the artist and Assange to raise awareness and funds for the latter’s legal defense.

The artwork counts the number of days Assange has been imprisoned. It emphasized the ongoing fight for freedom of speech and transparency. The high price reflected the NFT’s cultural and political significance, as well as Pak’s reputation as a leading digital artist.

#4: HUMAN ONE – $28.9 million

Beeple’s “Human One” sold for $28.9 million in November 2021 at a Christie’s auction, further cementing Beeple’s status as one of the leading artists in the NFT space. Unlike his previous works, “HUMAN ONE” is a hybrid physical-digital piece featuring a dynamic, changing video sculpture.

The artwork evolves over time, and Beeple can update and alter the visuals remotely. This innovation in digital art, combined with Beeple’s growing prominence, contributed to its high valuation.

 

#5: CryptoPunk #5822 – $23.7 million

Let’s start by saying that CryptoPunks, created by Larva Labs, is one of the most popular and influential NFT collections in the world. CryptoPunks are widely regarded as one of the earliest and most iconic NFT collections, with only 10,000 unique characters in existence. It was also a major force in the conception of online PFP communities.

CryptoPunk #5822 is one of the rarest and most valuable NFTs in the collection. This pixelated character, featuring an alien with a blue bandana (two very rare traits for this collection), sold for $23.7 million in February 2022, making it the most expensive CryptoPunk ever sold.

Out of the 10,000 NFTs in the collection, only 9 are aliens and CryptoPunk #5822 is one of them. The rarity of CryptoPunk #5822, combined with the historical significance of the CryptoPunks collection, has made it highly sought after by collectors. The sale of this NFT anchored the appeal of CryptoPunks and their status as a cornerstone of the NFT market.

 #6: CryptoPunk #7523 – $11.75 million

CryptoPunk #7523, also known as “Covid Alien,” sold for $11.75 million at a Sotheby’s auction in June 2021. This NFT is also part of the rare alien series within the CryptoPunks collection, featuring a character wearing a medical mask, which has become a symbol of the COVID-19 pandemic.

The sale of CryptoPunk #7523 reflected the cultural significance of CryptoPunks collection and the way NFTs can capture and represent moments in history. The character’s medical mask and alien features make it a unique and memorable piece, resonating with collectors during a time of global crisis.

#7: TPunk #3442 – $10.5 Million

TPunk #3442 is one of the most iconic NFTs from the TPunks collection, which is often referred to as the “Tron version” of the popular CryptoPunks series on the Ethereum blockchain. The collection was created by mondiblo & bastardber as a hobby NFT project.

What makes TPunk #3442 particularly special is that it was purchased by Justin Sun, the founder of Tron. The selling price of 10.5 million on August 31, 2021, made it one of the most expensive NFTs sold at the time. The unique design of TPunk #3442, resembling a Joker-like character, combined with its association with a prominent figure in the crypto world, significantly contributed to its value and prominence in the NFT space.

#8: CryptoPunk #4156 – $10.26 million

CryptoPunk #4156 sold for $10.26 million in December 2021, making it one of the most valuable NFTs in the CryptoPunks collection. This pixelated character features a blue bandana and an ape appearance. 

With only 24 ape CryptoPunks, #4156 quickly became a rare and sought-after piece. The sale reinforced the reputation of CryptoPunks as a symbol of the NFT market and the value placed on digital collectibles.

#9: CryptoPunk #3100 – $7.67 million

CryptoPunk #3100 sold for $7.67 million in March 2021, adding to the list of high-value sales within the CryptoPunks collection. This NFT features an alien character with a white headband, making it one of the rarest CryptoPunks in existence.

#10: CryptoPunk #7804 – $7.6 million

CryptoPunk #7804, another highly sought-after NFT from the CryptoPunks collection, sold for $7.6 million in March 2021. This particular Punk is an alien wearing a cap and sunglasses, and smoking a pipe, features that contribute to its rarity and desirability. 

CryptoPunk #7804 is sometimes referred to as the “digital Mona Lisa” because of its unique look and its status as a symbol of the burgeoning NFT movement. Its sale further exemplified the immense value that collectors place on rare digital assets and the cultural impact of CryptoPunks.

Honorable Mentions

Of course, these are just the top ten NFTs by sale price – there is so much more to tell. Here are a couple of major players in the space who are also a tour de force, even if they didn’t make our top list.

Ringers #109 – $6.9 million

Ringers #109, part of the Art Blocks Curated collection, sold for $6.9 million in October 2021. Artist Dmitri Cherniak created the Ringers series as an example of generative art, where algorithms generate unique visual patterns based on a set of parameters. 

Each piece in the Ringers collection represents a different configuration of a string wrapped around a set of pegs, producing a wide variety of intricate and visually striking designs. Ringers #109 stands out due to its complex design and the significance of Art Blocks as a leading space for generative art within the NFT ecosystem.

Bored Ape #8817 – $3.4 million

The Bored Ape Yacht Club is another famous NFT collection that surged in popularity during the 2021 non-fungibles craze. Created by Yuga Labs and launched on 30 April 2021, the BAYC collection features 10,000 unique apes with various traits. The collection quickly gained traction as a digital status symbol and PFP, with celebrities like Eminem, Snoop Dogg, Justin Bieber and Gwyneth Paltrow all buying in to Bored Apes.

With its combination of rare traits, the most expensive Bored Ape sale so far is that of #8817 for the amount of $3.4 million. The identity of the buyer of #8817 remains a mystery.

Why Are NFTs So Expensive Anyway?

NFTs represent a new frontier in art and collectibles, leveraging blockchain technology to create unique digital assets. Several key factors contribute to their high value:

• Rarity: NFTs often derive their value from their rarity. The more scarce an NFT is, the more valuable it becomes.
• Scarcity: Limited edition NFTs or one-of-a-kind pieces drive up demand and price due to their scarcity.
• Social Status: Owning a high-value NFT can be a status symbol, akin to owning a luxury car or rare art piece.
• Utility: Some NFTs offer utility beyond mere ownership, such as access to exclusive content or events, further enhancing their value.

Rarity

Rarity has a significant impact on the value of NFTs. Just like traditional collectibles, the fewer there are of a particular NFT, the more valuable it becomes. What makes NFTs so special is that each of them is unique. No copy of a particular NFT exists.

Furthermore, most collections assign random traits to different NFTs. These traits can also have different degrees of rarity. For example, the CryptoPunks collection has a total of 10,000 NFTs in it but only 9 of them have the alien trait.

Scarcity

Scarcity is closely related to rarity but focuses more on the controlled supply of NFTs. In the digital world, creators can issue a finite number of NFTs, ensuring that there is a limited supply. Generally, the lower the number of NFTs in a collection, the more exclusive it will be. This strategy drives demand and increases the individual price of assets.

While older projects like CryptoPunks and BoredApeYachClub had a total supply of 10,000, newer collections are experimenting with lower numbers. Some artists launch NFTs at 8000, 5000 and even as low as 3000 and below. This increased scarcity creates a competitive environment where buyers are willing to pay a premium to secure one of the limited NFTs.

Social Status

NFTs have quickly become a status symbol, especially in the digital and crypto communities. Owning a high-value NFT can signal wealth, influence, or a deep understanding of the emerging digital art world. 

It also helps that celebrities such as Jay-Z, Serena Williams, Snoop Dogg, and many others own NFTs from certain collections (CryptoPunks). The social status associated with owning a prestigious NFT can significantly drive up its price.

Utility

Beyond just being digital art or collectibles, some NFTs offer additional utility. This can include access to exclusive content, participation in special events, or even voting rights within a decentralized autonomous organization (DAO). 

Blockchain based games are also using NFTs to represent items, skins, characters, in-game assets and weapons and more. The more utility an NFT provides, the more valuable it becomes to the owner and the higher its price on the market will be.

NFT Use Cases

While art has been the most visible application of NFTs, these digital tokens have a wide range of use cases across various industries. Below are some examples of how NFTs are being utilized beyond the art world:

Metaverse Objects

In the growing metaverse, NFTs serve as the building blocks of virtual worlds. Users can purchase virtual land, clothing, and accessories, all represented as NFTs. 

Platforms like Decentraland and The Sandbox allow users to buy, sell, and trade these digital assets, creating vibrant virtual economies.

Gaming Collectibles

NFTs have found a natural home in the gaming industry, where they are used as in-game assets. Games like Axie Infinity allow players to own, trade, and earn money from their in-game items, characters, and land. 

These NFTs give players ownership of their digital assets, which can be sold or traded on secondary markets.

Music

Musicians and artists are increasingly using NFTs to monetize their work by selling limited-edition releases, concert tickets, and exclusive content. NFTs give artists a new way to engage with their fans and retain more control over their work. Platforms like Audius have emerged as key players in the music NFT space.

Luxury Goods

Luxury brands are embracing NFTs to offer digital representations of physical goods. These NFTs can be used to verify the authenticity of luxury items, provide proof of ownership, and offer additional digital experiences. 

Brands like Gucci and Louis Vuitton have launched their own NFT collections, blending the physical and digital worlds.

Real Estate

NFTs are making inroads into the real estate industry, where they are used to represent ownership of virtual land and properties. 

Companies like Propy have begun experimenting with NFTs to facilitate the buying and selling of real estate, both in the physical world and in virtual environments. Meanwhile, in the metaverse, companies and individuals can buy their own sovereign plots of virtual land and even fully built digital houses in the form of an NFT. One of the most famous examples is a plot of land sold for over $4 million within The Sandbox, with the asset existing as an NFT.

Supply Chain

NFTs can be used to track the provenance and authenticity of goods within a supply chain. By creating a digital record of a product’s journey from manufacturer to consumer, NFTs can help ensure transparency and reduce fraud in industries such as fashion, food, and luxury goods.

One example of a company that’s already set on implementing NFTs in the supply chain is Morpheus.Network.

The Future of NFTs

NFTs may seem like they’ve had their hay day, but we’ve only seen the start. Non fungibles go beyond digital art and already have many different use cases including gaming, supply chain, music, real estate, and more. As blockchain technology matures, NFTs could become a standard for digital ownership, transforming how we interact with the digital world. 

The NFT space will have to address challenges such as market volatility, price bubbles, and regulatory uncertainty. 

FAQs

What’s the Highest-Selling NFT of 2024?

In March 2024, CryptoPunk #3100 made headlines as the most expensive NFT sale of the year, fetching a staggering 4,500 Ether, worth over $16 million at the time. 

Why Do NFTs Cost So Much?

NFTs can command high prices due to a combination of factors, including rarity, scarcity, social status, and utility. Rarity plays a significant role, as unique or limited-edition NFTs are often more valuable. Scarcity, or the limited availability of certain NFTs, can drive up demand and, consequently, the price. 

Additionally, owning a high-value NFT can confer social status within the digital and art communities. Lastly, some NFTs offer utility, such as access to exclusive content, events, or even physical goods, further increasing their value.

What’s the Most Famous NFT?

One of the most famous NFTs is Everydays: The First 5000 Days by digital artist Beeple. Notable for its auction pricetag of $69.3 million (at a Christie’s auction in March 2021), Everydays is one of the most expensive NFTs ever sold. It is also credited with catapulting NFTs into the mainstream consciousness. 

The artwork is a collage of 5,000 images Beeple created over 5,000 days, and it symbolizes the growing importance and recognition of digital art in the global market.

What Are the Biggest NFT Collections?

Some of the biggest and most popular NFT collections include CryptoPunks, Bored Ape Yacht Club (BAYC), and Art Blocks. CryptoPunks are considered one of the earliest and most iconic NFT collections, featuring 10,000 unique pixel art characters. 

BAYC has gained immense popularity due to its unique ape-themed avatars and exclusive community benefits. Art Blocks is known for its generative art, where artists use algorithms to create visually stunning and unique pieces.

How Can I Secure an NFT?

To secure an NFT, use a reliable cryptocurrency wallet. Consider a hardware wallet such as Ledger or Trezor, which provides strong security features like two-factor authentication. You can further enhance security by keeping your private keys or recovery phrases stored offline to prevent losing access. Always verify transaction details and purchase from reputable marketplaces to avoid scams.