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June 21, 2022

Top 10 Sky-high price NFT transactions you need to know! (Part 1)

Along with the rising popularity of the "metaverse" concept, NFT have also became a trend. It’s time to introduce five NFT works that are trading at sky-high prices now!

1. Every Day: The First 5000 Days by Beeple

Beeple is the creator who used 5,000 photos taken over the past 13 years and made them into a collage. This work is different from other artworks and is the first pure NFT artwork auctioned by Christie's. The auction price was as high as USD69 million, which is the third most expensive auction work among living artists and set a world auction record for digital art!

Photo source: hypebeast

2. The Merge by Pak

"The Merge" sold for over USD90 million on the NFT trading platform - Nifty Gateway. This work is not like an ordinary NFT, which is required to trade by Ethereum. The transaction of "The Merge" requires the purchase of the token called "mass"; each 5 "mass" can then buy 1 NFT of "The Merge". When buyers purchase more tokens, the works can combine into larger works accordingly. So the "The Merge" NFT purchased by each buyer will be different, depending on the buyers' number of "mass" tokens. In addition, "The Merge" adopts the "progressive auction" pioneered by Pak. The price of the work was increasing by USD25 every hour. There was no limit for purchasing the tokens during the auction period. There were more than 2,000 buyers in this auction and they spent a total of USD91.8 million on the purchase. It was the first NFT to be sold in this kind of auction and created a higher value for the work.

Photo source: betterprogramming

3. CryptoPunks by Larva Labs

"CryptoPunks" is the earliest NFT developed on the Ethereum blockchain. It was created by 10,000 pieces of 24x24 pixel portraits composed of algorithms to create multiple random characters, such as hat-wearing or pipe-smoking characters. The total sales of the CryptoPunks collection exceeded one billion US dollars. This has brought the NFT craze to celebrities such as Cai Wen-sheng, the founder of Meitu (China), Cai Chong-xin, the co-founder of Alibaba, Feng Bo, the Managing Partner of Dragonfly Capital and Hong Kong actor Shawn Yue etc., with hearsays that they are all getting the "CryptoPunks" NFT!

Photo source: coindesk

4. Crossroads by Beeple

"Crossroads" is a 10-second art video sold for USD 6.6 million. The video shows a park roadside with birds singing and fragrant flowers. A naked "giant" is lying on the grass with different slogans and graffiti on his body, but this "giant" is ignored by the passers-by.The inspiration of the work comes from 2020 US presidential election.

Photo source: nftartwork

5. HUMAN ONE by Beeple

Well-known digital artist Beeple creates NFTs in another form. HUMAN ONE is a moving video sculpture sold for USD28.9 million. The main character of this work is an astronaut who constantly strides across different scenes. Beeple describes this NFT as "the first portrait of a human being born in the metaverse."

Photo source: hypebeast

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