At the beginning of 2021, relatively few had heard about Non-Fungible Tokens (NFT). By the end of the year, they had become popular enough for the Collins dictionary to call NFTs its word of the year for 2021.
According to JPMorgan analysts, the monthly sales of digital tokens “hovers” at around $2 billion. The analysts estimated that the total market capitalization of the NFT universe was worth $7 billion.
Much of that money is going to the market for digital artwork. Unique cryptographic tokens signed by artists have mopped up high prices that run into tens of millions of dollars from buyers. In the process, they have created a new ecosystem populated by existing and new players. Prestigious auction houses like Christie’s and Sotheby’s have already jumped onto the NFT bandwagon. New ones, such as OpenSea and Nifty, have also gained popularity.
Here is a listing of the top five NFTs by price in 2021. In addition to the five NFTs below, there are several others that have garnered high valuations from buyers. For example, artist Beeple’s Crossroad fetched $6.6 million on Nifty, while Twitter co-founder Jack Dorsey’s first-ever tweet “just setting up my twtrr” was sold for $2.9 million.
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