Did you know that non-fungible tokens have become one of the most talked-about topics within the crypto community in the past couple of years? Each day hundreds of digital artists, musicians, athletes, influencers, illustrators, and others create their NFTs to share them with the world.
One of these famous artists has created unique collections such as the sevens nft, which has been much talked about and written about on the Internet. It is just one of the examples of a fantastic NFT collection that has experienced great public attention and success in a short time.
You should know all the essential information regarding it for those of you who’ve just stepped into this remarkable universe of NFTs. So, before we present the most expensive NFT so far, let’s get started with the basic definition of the non-fungible token, shall we?
NFTs – explained to total beginners.
NFTs, or Non-Fungible Tokens, represent unique digital assets that cannot be replaced. These tokens are part of the Ethereum blockchain, a distributive ledger. The data stored inside the file has value. In some cases, incredibly high value. Collectors and crypto enthusiasts invest in them similarly to physical objects.
Since there are original works of art that attract the attention of collectors, these irreplaceable tokens known as NFTs are the latest way to trade collectibles and encompass art forms ranging from digital art and animation to music and virtual spaces. In essence, anything that can be given some value and that can be stored in digital form can also be sold as NFT.
Keep in mind that anyone on the planet is able to save digital works on their PC, digitally publish a copy of a digital file or print them. Still, the value is related to the original file, i.e. the original work of art.
So, what about the most expensive NFT? Let’s get straight to that!
What was the most expensive NFT so far?
Mike Winkelmann, the artist known as “Beeple”, has managed to sell his digital work of art. This work of art was called“Everydays: the First 5000 Days for a staggering $ 69.3 million”, at the highest price ever paid for an NFT. It is a collage made up of individual works that the artist has created every day for 5000 days since 2007.
According to this example, where the incredible amount is given for digital art, which is, in this case, a JPG film, we witness the incredible power of NFTs.
His digital work was presented at the first digital NFT auction of the well-known auction house, Kristi. One hundred eighty bids were received during the auction, with the starting price being only $100. With a final price of almost $70 million, this is the third-highest price that the work of a living artist has received.
When this figure is divided by the 5,000 words that make up the collage, the price of individual work is $13,860. Keep in mind that Beeple’s work was sold in 2020. It was the most expensive sold work of NFT art with a price tag of $552,603.98!