Recently, I was reviewing the sales history of NFTs, and honestly, the numbers are mind-blowing. The most expensive NFT in the world remains The Merge by Pak, sold for $91.8 million back in December 2021. The interesting part is that it wasn't a single piece, but nearly 29,000 collectors bought different units of the same project. Each unit cost $575, but when you add them all up, you reach that record-breaking figure. It's quite different from what one expects from a typical NFT.

Before The Merge, the most expensive NFT in the world was Everydays: The First 5000 Days by Beeple, sold at Christie's for $69 million in March 2021. Beeple is a guy who drew a digital artwork every day for 5,000 consecutive days and compiled them into a massive collage. The thing is, it started with an initial price of just $100, but bids skyrocketed when people realized who was behind it.

Then there's Clock, another work by Pak but in collaboration with Julian Assange. It's a dynamic NFT that literally counts the days Assange was in prison and updates automatically each day. It sold for $52.7 million in February 2022 through AssangeDAO. Beyond the monetary value, it's interesting because it shows how NFTs can be tools for political and social causes, not just speculative art.

Human One by Beeple is another worth mentioning: $29 million. It's a 16K kinetic video sculpture that runs 24/7 and changes according to the time of day. Beeple can update it remotely, so it's literally a living piece of art that evolves over time. That's something traditional paintings could never do.

Next, we have the whole CryptoPunks scene. CryptoPunk #5822 sold for $23 million. It's one of the nine Alien Punks that exist, and considering CryptoPunks was one of the first NFT projects (launched in 2017), these numbers make sense. #7523 is also an Alien Punk and sold for $11.75 million. The odd thing is that it wears a medical mask, making it even more collectible.

What catches my attention is that while some NFTs from renowned artists like Beeple and Pak reach astronomical figures, most of the market is much more volatile and speculative. The most expensive NFT from a few years ago isn't anymore today, but these pioneering projects maintain their value because they have history, rarity, and established creators.

XCOPY sold 'Right-click and Save As Guy' for $7 million. The name is a joke because many people believe NFTs can be downloaded by right-clicking, when in reality, the blockchain is what matters. It was initially sold for 1 Ethereum (about $90 at that time), so the appreciation was huge.

CryptoPunks continue to dominate the list of the most expensive NFTs in the world. #4156 se vendió por 10.26 millones de dólares hace poco, el #5577 sold for $7.7 million, #3100 for $7.67 million. All are rare for different reasons: some have attributes only 1-2% of punks possess, others are aliens or have unique features.

Ringers #109 by Dmitri Cherniak reached $6.93 million. It's part of a generative art series on Art Blocks, and each Ringer is unique because it's generated algorithmically. Even the cheapest in the series currently costs around $88,000.

Crossroad by Beeple was a game-changer: $6.6 million in February 2021. It's a 10-second short film responding to the 2020 presidential elections, with two different endings depending on the outcome. It was sold before the result was known, so people were betting on the future.

What’s fascinating about all this is that the NFT market has matured quite a bit. It’s no longer just reckless speculation. Established collections like CryptoPunks and Bored Ape Yacht Club have very high floor prices, making them more stable. But it’s also true that, according to some data, 95% of NFTs are practically worthless. The total market capitalization is around $2.6 billion at this point.

What became clear after reviewing all this is that the most expensive NFT in the world isn't necessarily the best art or the best investment. It’s a combination of rarity, creator reputation, market timing, and sometimes pure luck. Pak and Beeple led this wave, but there are emerging artists likely to break records in the coming years. The market continues to evolve.