Recently, I was reviewing the craziest NFT sales history, and honestly, I am surprised at how much money has moved in this space. I started investigating what is truly the most expensive NFT in the world, and I came across 'The Merge' by Pak, sold in December 2021 for $91.8 million. The interesting part is that it was not purchased by a single person, but 28,893 collectors bought 312,686 units at $575 each. Quite different from what most people think about NFTs.

Pak is this anonymous artist who has been in the digital art world for over two decades. He created 'Archillect,' an AI program to select visually impactful content. After 'The Merge,' Sotheby's partnered with Nifty Gateway to auction 'The Fungible Collection' by the same artist, reaching $16.8 million.

But Pak is not alone in this. Beeple, whose real name is Michael Winkelmann, has also been a powerhouse in the market. His work 'Everydays: The First 5000 Days' sold for $69 million at Christie's in March 2021, although it started with an initial price of just $100. It is a collage of 5,000 works created over 5,000 consecutive days since May 2007. Vignesh Sundaresan, known as MetaKovan, paid 42.329 ETH for this piece. The sale marked an important moment for digital art.

Then there's 'Clock,' created by Pak in collaboration with Julian Assange. It is a dynamic piece that records the days of Assange's imprisonment, updating automatically each day. AssangeDAO, a group of over 10,000 supporters, paid $52.7 million for it in February 2022. The proceeds were allocated to Assange's legal defense. This demonstrates how NFTs can transcend traditional art and become tools for social change.

Beeple also created 'HUMAN ONE,' a kinetic sculpture over 2 meters tall that sold for $29 million at Christie's in November 2021. It is a 16K video sculpture that operates 24/7, showing different images depending on the time of day. The fascinating part is that it constantly evolves because Beeple can update it remotely.

Now, if we talk about collections, CryptoPunks has dominated the lists. It is one of the earliest NFT projects, launched in 2017 with 10,000 unique avatars on Ethereum, initially free for anyone with a wallet. The CryptoPunk #5822, un 'Alien Punk' azul, se vendió por 23 millones. El #7523, another alien punk with a medical mask, reached $11.75 million at Sotheby's in June 2021. Punk #4156, a ape punk, sold for $10.26 million in December after costing only $1.25 million ten months earlier.

TPunk #3442, known as 'The Jester,' was bought by Justin Sun, CEO of Tron, for 120 million TRX ($10.5 million) in August 2021. It is part of the Tpunks series, derived from CryptoPunks, and became the most expensive NFT ever sold on the Tron blockchain.

XCOPY, an anonymous artist known for dystopian works, sold 'Right-click and Save As Guy' for $7 million to Cozomo de' Medici, one of the most prestigious collectors. The piece is ironic because many people mistakenly believe that NFTs can be downloaded with a right-click.

Dmitri Cherniak created 'Ringers,' a generative art series on Art Blocks. Ringers #109 sold for $6.93 million, making it the most expensive NFT on that platform.

Beeple also created 'Crossroad' in February 2021, sold for $6.6 million on Nifty Gateway. It is a 10-second short film in response to the 2020 presidential elections, with two different endings depending on the electoral result.

What I see is that the most expensive NFT in the world is not necessarily a one-of-a-kind piece. 'The Merge' demonstrates that a collective model can reach astronomical figures. Rarity, the artist's reputation, utility, and community participation are key factors. Artists like Pak and Beeple have led this digital art revolution.

Regarding total collections, Axie Infinity has generated $4.27 billion, and Bored Ape Yacht Club $3.16 billion. The NFT market remains volatile, but these works represent an important milestone in how we value digital art. Each has its own story and cultural significance. As the market evolves, we will probably see more records broken. Although some data suggest that 95% of NFTs are practically worthless, established collections maintain high prices, and the total market capitalization hovers around $2.6 billion.