Wondering what is the most expensive NFT out there Well, that’s a lot. NFTs and Cryptocurrencies are one of the hottest properties and it looks like the hype train is not going to stop soon. Non-Fungible Tokens aka NFT are basically tokens rather than art. These can be bought and sold on exchanges and stored on the blockchain. While the underlying technology is undoubtedly powerful and revolutionary, it is the most mainstream adoption ever seen.
However, things are looking up as many have started buying art collections as they are worthy of selling (digital jpegs) at a higher price later in the year. 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 Gatewaya leading NFT marketplace.
According to Barrons, The Merge was sold to Nifty Gateway to 28,893 collectors who purchased 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 has a black background against three large white masses (dots). 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 be diminished over time. Every Merge token which is a recipient wallet with transferred merges, resulting in a higher mass value and a single token.
And that’s about everything What is the most expensive NFT? What do you think about the whole NFT hype? For more news and guides, be sure to search Twinfinite.