Wondering what is the most expensive NFT out there? Well, it’s a lot. NFTs and Cryptocurrencies are one of the hottest properties and it seems like the hype train isn’t going to stop soon. Non-Fungible Tokens aka NFT are basically tokens commonly art. These can be bought and sold on exchanges and stored on the Blockchain. While the underlying technology is undoubtedly powerful and revolutionary, it hasn’t seen much mainstream adoption.
However, things are looking up as many have started buying art collections worth millions (sold as digital jpegs) in hopes to sell them at a much higher price later down the line. This has given rise to a whole new boon of collecting and selling NFTs. But what is the most expensive NFT that one can buy?
What Is the Most Expensive NFT?
The most expensive NFT sold is ‘The Merge’ by Pak. The NFT is priced at $91.8m and the artwork was sold publicly by a living artist, as per Nifty Gateway, a leading NFT marketplace.
According to Barrons, The Merge was sold on Nifty Gateway to 28,893 collectors who bought 312,686 units of mass (which were single NFTs). The initial price of these units was $575, which later grew by $25 every six hours.
The Merge NFT is a digital art that consists of three large white masses (dots) against a black background. The interesting part is that the more mass customers stockpiled, the larger their mass would become. The NFT has a built-in scarcity mechanism, meaning the token supply will diminish over time. Every Merge token which is transferred merges with the token of the recipient wallet, resulting in a higher mass value and a single token.
And that’s everything about the what is the most expensive NFT? What do you think about the whole NFT hype? For more news and guides, be sure to search for Twinfinite.
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