NFTs, or non-fungible tokens, are altering the way we think about art, and investors are taking note.
NFTs have risen to the forefront of the crypto world in the last year. Artists have taken use of the technology’s ability to generate real-world scarcity for digital goods, thanks to cryptographically unique tokens.
Before we start, just in brief
What are “Non Fungible Tokens” (NFTs)?
NFTs are non-exchangeable digital property rights. Anyone who buys an NFT, for example, a photo, gets the sole right to it, secured on the blockchain. You can find detailed info about NFTs here.
So today we are taking a look at some ridiculously expensive NFTs ever sold, and will leave you to judge their true value.
Ocean Front: $6 Million
Mike Winkelmann, popularly known as Beeple, a graphic designer and Non-Fungible Token (NFT) artist, has sold artwork for $6 million. The piece that was created as an NFT is titled “Ocean Front,” and it shows a tree perched on a picture of trailers and cargo containers lying on a platform on the ocean floor.
Justin Sun ultimately got his hands on a Beeple NFT in March 2021, when he paid $6 million for the artist’s digital piece Ocean Front.
Lest you assume that NFTs are merely a way for crypto millionaires to stroke their egos, the money raised from the auction went to the Open Earth Foundation, a non-profit that tracks worldwide progress on the Paris Agreement to address climate change.
Flying War Babies: $5.8 Million
“Grimes” is a Canadian musician who is also an artist and Tesla CEO Elon Musk’s ex-girlfriend. The infants with wings and swords in her “WarNymph” collection capture the attention. The war infants stand guard over Mars, which is set against a post-apocalyptic landscape. The ten digital artworks sold for $5.8 million as NFTs in less than 20 minutes. The photographs are bizarre and whimsical, and they deserve to be on our NFT list.
Fidenza #313: 3.3 Million
Artist Tyler Hobbs‘ Fidenza line consists of 999 unique Art Blocks depicting a pattern of colorful squares and rectangles which are generated via an algorithm. The series’ Fidenza #313 sold in August 2021 for 1,000 ETH, which amounted to just over $3.3 million USD at the time of transaction. The artwork was sold to the previous buyer for just 0.58 Ethereum (around $1,400 USD) on June 11th, 2021, marking a truly mindboggling return of 235,000% within the span of two months.
The First Tweet: $2.9 Million
The first tweet sent by Twitter creator Jack Dorsey has been sold for $2.9 million to a Malaysian businessman.
The token was created using the Valuables platform, which lets users create NFTs that reflect their tweets.
Dorsey promised to convert 100 percent of the revenues to Bitcoin before donating them to Africa Response as part of his humanitarian endeavors.
Virtual NFT yacht: $ 650,000
Republic Realm was able to sell the virtual yacht through an NFT auction at OpenSea. The buyer’s name is kept secret.
The Metaflower Super Mega Boat is the name of the yacht. It was purchased at auction for 146 Ethereum coins, for a total cost of about $ 650,000 at the time of the transaction. There are four decks on the ship, each having lounge rooms, a .jacuzzi, and a dance floor. True, all of this can only be used in the Sanbox metaverse. On the boat, there are two helicopter landing pads. Rotor-wing aircraft, on the other hand, will have to be purchased individually.
The Fantasy Collection includes the Metaflower Super Mega Yacht. Everyone will be able to buy virtual jet skis, speed boats, and even private islands using non-fungible tokens as part of this. The prices range from $ 4,000 to $ 11,000 to $ 300,000, respectively.
The torched Banksy art: $ 380,000
Anyone may view the following videos on Youtube: A young guy lights the original poster “Morons” by graffiti artist Banksy using a fire starter. The flames then consume the entire work of art.
The strange art burning is being shown live on YouTube. Burnt Banksy, a crypto-art enthusiast organization, is behind the deed. It had legitimately acquired the print for $95,000 from a New York gallery prior to the media frenzy. The burnt Banksy remnants in the NFT version were eventually sold for $380,000.
The world’s first digital perfume: $ 18,000
Here is an example of how crazy the world of NFTs can be! You can buy yourself even perfume. I know what you will ask me – no you can’t smell it.
Look Labs, located in Berlin, is selling its “Cyber Eau des Parfum” only online as the world’s first digital fragrance. The perfume’s packaging, container, and aroma were scanned using near-infrared spectroscopy by the ingenious creators. This resulted in a computerized representation of the smell. “Cyber Eau de Parfum’s” molecular wavelengths were sold as an NFT for $18,000.