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May 13, 2022

What the Top 10 Highest-Selling NFTs Say About the Future of the Technology

In today's world, where virtual and physical realities increasingly merge, NFTs are growing in popularity among investors and collectors. Due to a blockchain technology boom where NFTs provide value to millionaire collectors, celebrities, and influencers, people have jumped on the bandwagon to ride the NFT wave into the future.

From memes, domain names, event ticketing, and collectibles to music, NFT fashion, and million-dollar collections converted into digital jpegs for sale, NFTs are changing how transactions are done online.

Meanwhile, collections such as CryptoPunks and the Bored Ape Yacht Club claim a place as some of the priciest art in the world.

Here's what the top 10 highest selling NFTs say about the future of technology.

What are NFTs?

Non-fungible tokens refer to exclusive cryptocurrency tokens. Since NFTs exist in a synthesis of digital files and blockchain security, it's not possible to duplicate these digital assets. 

NFTs don't just exist in a virtual world. Instead, they can represent items in the real world, such as art or real estate. Blockchain technology "tokenizes" physical assets to enable people to buy, sell, or trade them more efficiently. The process also decreases issues with fraudulent transactions.

Non-fungible tokens' cutting-edge technology is considered an emerging technology. For example, instead of hanging art on a wall, purchasers can display million-dollar art in traditional gallery settings or post it as their icon photo on social media pages by linking the NFT's digital wallet to the site.

In an increasingly connected world that relies heavily on technology to buy, sell, and show art and other digital assets to promote and show off influencers, lifestyles, personal brands, and luxury collections online, this virtual flexibility gives people many options.

Even if NFT’s emerging technology hasn't hit mainstream use yet, these top-selling NFTs indicate a trend toward an automated, transparent, and encrypted synthesis of virtual and physical reality that has significant potential for the future of technology. 

1.    Beeple's Crossroad - $6.6m

Beeple is a buzzword in the NFT community. Graphic designer, digital artist, and multimillionaire, Beeple is the creator of Beeple Baby Yoda, Beeple Mario, and other hotly sought-after digital art.  

Beeple's NFT, Crossroad, made NFT history when it dropped on the secondary market for a whopping $6.6 million.  

The hype about Beeple's expensive and respected work centers on the fact that Crossroad's is a 10-second movie clip. It shows people walking past a huge body collapsed on the sunny grass with insults written all over it.

Beeple offers collectors a unique vision that differs from other NFTs, and the price speaks for his work's value for enthusiasts.

2.    CryptoPunk #7804 - $7.6m

By creating pieces that regularly outsell each other, CryptoPunk has made a name in the world of art NFTs.

On March 11, 2021, CryptoPunk's NFT #7804, showing an "alien" creature wearing a cool kid hat, shades, and a pipe, broke the $7 and a half million mark.

3.    CryptoPunk #3100 - $7.67m

Collectors clamor for many of CryptoPunk's works with LarvaLabs #3100, topping one of the most desired NFTs of all time. 

A day after #7804 sold, #3100 surged in price and demand over other CryptoPunk pieces.

The alien punk featured in the art wore a headband and sold it on March 11, 2021, for over $7 million.

It's currently the seventh rarest CryptoPunk NFT on the global market.

4.    CryptoPunk #4156 - $10.26m

The third most expensive CrpytoPunk globally, LarvaLabs 4156's glitchy early-computer alien art look raked in $1.25 million when it sold to the beloved anon on December 9, 2021.

5.    CryptoPunk #7523 - $11.75m

If you wanted to check out the most expensive CryptoPunk NFTs, the creator's LarvaLabs #7523 takes the cake.  

The piece blew its competitors and even other CryptoPunk art out of the water when it was sold at Sotheby's for over $11 million.  

6.    CryptoPunk #5822 - $23.7m

LarvaLabs by CryptoPunk #5822 went for double the price of the second most valuable CryptoPunk.

With its popular and pricey "alien" art style, CrpytoPunk's 5822 piece exploded collectors' expectations when it went for a staggering $23 million on February 12, 2022.

This sale likely sent CryptoPunk's whole collection soaring into space.

7.    Beeple's HUMAN ONE - $30m

Beeple does it again with his stand-alone art NFT, HUMAN ONE. On November 9, 2021, this NFT was sold to Swiss entrepreneur Ryan Zurrer for nearly $30 million at Christie's.

HUMAN ONE is a piece that is linked to Beeple's previous artwork, Everydays, according to an interview with the famous London auction house.

8.    Clock - $52.7m

This Clock NFT, created by Pak and Julian Assange, is a piece that acts as a clock, updating every day as a countdown, showing how much time Julian Assange, the founder of WikiLeaks, has spent in prison on espionage charges for making information about the U.S.'s actions in the Iraq War public.

The NFT creators achieved their goal of raising funding to pay for Assange's legal defense when the NFT was sold to AssangeDAO. AssangeDAO is a group of more than 10,000 people who crowdfunded the money to buy the NFT in support of Assange and the freedom of information he represents.

9.    Everydays: The First 5000 Days - $69.3m

By now, you've probably guessed that Beeple is an NFT sensation.

Beeple's art, titled The First 5000 Days, is distinguished as the priciest NFT sold to a single owner.

This isn't a surprise since Beeple's artwork has climbed to top-tier status among enthusiasts and collectors.

The First 5000 Days is a massive collage showcasing 5000 images of Beeple's work. When Beeple promised in 2017 to create a piece of art every day, he carried out this pledge with this epic result.

10.   Pak's "The Merge" - $91.8m

A group of 28,983 collectors bought Pak/Nifty's "The Merge" in December 2021. In total, the collectors paid nearly $100 million.

"The Merge" is officially the most expensive NFT ever purchased. However, it's also the only top 10 highest-grossing NFT, besides Clock, to be owned by multiple people. So, it's clear that the expensive price tag (News - Alert) explains why this piece is now crowd-owned.

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