The 20 Most Expensive NFTs of All Time

Introduction

Non-fungible tokens, or NFTs, have taken the digital world by storm, revolutionizing the concept of ownership in the virtual space. These unique digital assets, backed by blockchain technology, have created a new paradigm for artists, collectors, and investors alike.

NFTs are unique digital tokens that represent ownership of a specific digital item. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a like-for-like basis, each NFT is distinct and cannot be replicated or substituted.

The concept of NFTs can be traced back to 2014 with the creation of “Colored Coins” on the Bitcoin blockchain. However, it wasn’t until 2017, with the launch of CryptoKitties on the Ethereum blockchain, that NFTs gained widespread attention.

NFTs are typically built on blockchain platforms, with Ethereum being the most popular. The blockchain serves as a decentralized ledger, recording the creation, ownership, and transfer of each NFT. This technology ensures the authenticity and scarcity of digital assets, solving the long-standing issue of digital replication and ownership verification.

The NFT market exploded in 2021, with sales volumes skyrocketing from $94.9 million in 2020 to over $23 billion in 2021. This surge in popularity was driven by high-profile sales, celebrity endorsements, and the increasing digitization of art and collectibles.

Most Expensive NFTs

To compile our list of the 20 most expensive NFTs of all time, we employed a rigorous methodology to ensure accuracy and relevance.

We considered NFTs across various categories, including digital art, collectibles, and virtual real estate. The primary criterion for inclusion was the sale price in US dollars at the time of the transaction.

Our data was collected from multiple reliable sources, including major NFT marketplaces (such as OpenSea, Nifty Gateway, and SuperRare), blockchain analytics platforms, and reputable crypto news outlets.

All prices were converted to US dollars based on the exchange rate at the time of sale. For consistency, we used the highest verified sale price for each NFT, excluding any unverified or disputed transactions.

1. CryptoPunk #9998
2. Pak’s “The Merge”
3. Beeple’s “Everydays: The First 5000 Days”
4. Beeple’s “Human One”
5. CryptoPunk #5822
6. CryptoPunk #7523
7. TPunk #3442
8. CryptoPunk #4156
9. CryptoPunk #3100
10. CryptoPunk #7804
11. Right-Click and Save As Guy
12. Ringers #109
13. CryptoPunk #8857
14. XCopy’s “All Time High in the City”
15. All Time High in the City
16. CryptoPunk #5217
17. CryptoPunk #7252
18. Save Thousands of Lives
19. CryptoPunk #2338
20. Fidenza #313

CryptoPunk #9998

• $532 million
• Ethereum

This sale in October 2021 was controversial, as it appeared to be a “wash trade” where the owner sold the NFT to themselves. It’s included for completeness but should be viewed skeptically.

Pak’s “The Merge”

• $91.8 million
• Ethereum

While technically a collection of NFTs rather than a single token, “The Merge” set records when 28,983 collectors spent $91.8 million on 312,686 total units in December 2021.

Beeple’s “Everydays: The First 5000 Days”

• $69.3 million
• Ethereum

This collage of 5,000 digital images by artist Mike Winkelmann, known as Beeple, sold at Christie’s in March 2021, marking a watershed moment for NFTs in the traditional art world.

Beeple’s “Human One”

• $28.9 million
• Ethereum

This hybrid physical and digital artwork, featuring a astronaut-like figure walking through changing environments, sold at Christie’s in November 2021.

CryptoPunk #5822

• $23.7 million
• Ethereum

One of the rarest alien CryptoPunks, featuring a blue bandana, this NFT sold in February 2022 for a record-breaking amount.

CryptoPunk #7523

• $11.8 million
• Ethereum

Known as the “COVID Alien,” this rare CryptoPunk sold at Sotheby’s in June 2021, showcasing the high value placed on rare traits within popular NFT collections.

TPunk #3442

• $10.5 million
• Ethereum

This NFT from the Tpunks collection, inspired by CryptoPunks but on the TRON blockchain, sold in August 2021.

CryptoPunk #4156

• $10.26 million
• Ethereum

An ape CryptoPunk with a bandana, this NFT was purchased in December 2021 by a group of investors.

CryptoPunk #3100

• $7.67 million
• Ethereum

This alien CryptoPunk with a headband sold in March 2021, highlighting the value of rare traits in the CryptoPunks collection.

CryptoPunk #7804

• $7.57 million
• Ethereum

Another alien CryptoPunk, this one featuring a pipe and cap, sold just days after #3100, further cementing the collection’s status.

Right-Click and Save As Guy

• $7.09 million
• Ethereum

Created by XCOPY, this NFT sold in December 2021, humorously addressing the common criticism that NFTs can be easily copied.

Ringers #109

• $6.93 million
• Ethereum

Part of the generative art collection by Dmitri Cherniak, this piece sold in October 2021, showcasing the appeal of algorithm-generated NFT art.

CryptoPunk #8857

• $6.63 million
• Ethereum

A zombie CryptoPunk with 3D glasses, sold in September 2021, showcasing the value of unique trait combinations.

XCopy’s “All Time High in the City”

• $6.2 million
• Ethereum

Another creation by XCOPY, this piece sold in January 2022, showcasing the artist’s signature glitchy, neon style.

All Time High in the City

• $6.2 million
• Ethereum

Another version of XCOPY’s piece, sold in November 2021, demonstrating the artist’s popularity in the NFT space.

CryptoPunk #5217

• $5.45 million
• Ethereum

Sold in July 2021, this ape CryptoPunk with a gold chain demonstrates the high value of ape traits in the collection.

CryptoPunk #7252

• $5.33 million
• Ethereum

A zombie CryptoPunk with a chinstrap, sold in February 2022, rounding out our list of top-selling NFTs.

Save Thousands of Lives

• $4.5 million
• Ethereum

Created by NooraHealth and sold in November 2021, this NFT aimed to raise funds for healthcare initiatives.

CryptoPunk #2338

• $4.37 million
• Ethereum

Another alien CryptoPunk, sold in August 2021, further solidifying the alien trait as highly sought after.

Fidenza #313

• $3.3 million
• Ethereum

Created by Tyler Hobbs, this piece from the generative art collection Fidenza sold in August 2021.

Analysis of the Top 20 NFTs

• Artists and creators
• Platforms and marketplaces
• Types of NFTs
• Price trends and patterns

The list is dominated by a few key artists and collections. Beeple’s works account for two of the top three sales, while CryptoPunks appear multiple times, showcasing the importance of brand recognition and scarcity in the NFT market.

While many high-value sales occurred on specialized NFT marketplaces like OpenSea and Nifty Gateway, traditional auction houses like Christie’s and Sotheby’s also played a significant role, lending credibility to the NFT market.

The majority of high-value NFTs are digital art pieces, with a strong showing from generative art collections like CryptoPunks and Fidenza. This demonstrates the market’s appreciation for both individual artistic vision and algorithmically generated rarity.

The highest-priced NFTs were largely sold during the peak of the NFT boom in 2021 and early 2022. Prices appear to correlate strongly with rarity within collections and the reputation of the artist or project.

Factors Influencing NFT Prices

• Rarity and uniqueness
• Artist reputation
• Historical significance
• Market demand and speculation

Scarcity plays a crucial role in NFT valuation. One-of-one artworks like Beeple’s pieces command high prices, as do NFTs with rare traits within larger collections.

Established digital artists like Beeple and XCOPY have seen their NFTs fetch high prices, indicating that artist brand recognition significantly impacts value.

Some NFTs, like the first CryptoPunks or early examples of generative art, command premium prices due to their place in the history of the NFT movement.

The NFT market has been characterized by intense speculation, with prices often driven by the perception of future value rather than intrinsic worth.

Impact on the Art World

• Traditional art market vs. NFT market
• Democratization of art
• Challenges and criticisms

The NFT market has challenged traditional notions of art valuation and ownership. It has opened up new possibilities for digital artists and has forced the traditional art world to reconsider its approach to digital art.

NFTs have allowed artists to reach global audiences directly, bypassing traditional gatekeepers. However, the high prices of top NFTs have also created new forms of exclusivity.

The NFT market faces criticism for its environmental impact, potential for fraud, and the speculative nature of many purchases. These issues continue to be debated as the market evolves.

Future of High-Value NFTs

• Emerging trends
• Potential for growth
• Risks and uncertainties

We’re seeing increased interest in NFTs with utility beyond pure collectibility, such as those offering access to exclusive communities or real-world experiences.

As blockchain technology and digital ownership become more mainstream, there’s potential for continued growth in the NFT market, particularly in areas like gaming and virtual real estate.

The NFT market remains highly volatile and speculative. Regulatory uncertainties and potential market saturation pose risks to future growth.

Conclusion

The astronomical prices achieved by these NFTs represent a pivotal moment in the history of digital ownership and art.

While it remains to be seen whether these prices will be sustained, the impact of NFTs on the art world and digital economy is undeniable.

As the technology matures and finds new applications, the landscape of digital collectibles and art will continue to evolve, potentially reshaping our understanding of value in the digital age.