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The 15 Most Expensive and Famous NFT Sales of All Time

NFTs, or non-fungible tokens, are a new kind of digital asset that has exploded in popularity ever since 2021 and don’t seem to be stopping anytime soon in 2022.

While there are many different types of NFTs, the most popular use case is for collecting and trading rare digital assets, such as JPEGs, video files, illustrations, and pixelated profile pictures (many of them).

In this blog post, we will take a look at the 15 most expensive and famous NFT sales of all time.

Keep in mind that the prices listed below are only for the NFTs themselves – not the entire collection. With that said, let’s get started!

15: Crossroads (Beeple) – $6.6 million

While almost everyone knows him as Beeple, his name is Mike Winkelmann. Crossroads originally sold on Nifty Gateway, an NFT marketplace notorious for its high-end sales.

Nifty Gateway made an announcement that the work had sold by Thursday of that same week, with the piece eventually showing up at an online sale at Christie’s and skyrocketing in price. Bidding had reached $1.8 million and continued through March 11 2021.

This is one Beeple’s major NFT sales. It’s safe to say that Beeple is one of the wealthiest NFT sellers in the world considering how he has several entries in the most expensive and famous NFT hall of fame.

Crossroads is an NFT seeking to spark political conversation and commentary, created as a response to the 2020 presidential election. It basically features a video of a giant, naked Trump with many writings across his body while lying face down in the grass.

Along with Beeple’s previous piece, it was Crossroads another of the fundamental NFT sales that made NFTs so popular in modern times. Perhaps if Beeple had never sold Crossroads and Everydays, NFTs would not be as famous as they are today.

What’s intriguing about this piece is that Beeple himself mentioned that he had different versions of this NFT depending on who won the 2020 United States elections. In truth, the other video NFT featured a victorious Trump should he had won.

Should have the victorious Trump NFT been the released version, would it have fetched the price it had? That’s some interesting food for thought.

14: CryptoPunk #8857 (Larva Labs) – $6.63 million

Up next, we have the sale of CryptoPunk #8857. Anyone who’s into NFTs would die to get their hands on one of the punks, but that goes double for zombie punks. There are only 88 zombie punks in existence, a minimal number considering how there were 10,000 CryptoPunks minted in its only drop.

CryptoPunk #8857 sold for 2,000 ETH, or $6.63 million. At the time, CryptoPunk #8857 became the fourth most expensive NFT sale ever.

13: Right-click and save As Guy (XCOPY) – $7.08 million

This NFT was minted on December 6, 2018, and after another major NFT sale took place, it also became famous enough to warrant its own sale for $7,088,229 or 1600 ETH at the time. It was purchased by rapper Snoop Dogg through SuperRare. At the time, Snoop Dogg was using his NFT pseudonym Cozomo de Medici.

What’s funny is that this NFT was originally only a meme using warped visual loops, made specifically to mock people who do not believe in NFTs or digital art.

12 – Ringers #109 (Dmitri Cherniak) – $7.1 million

Ringers is a generative crypto art collection of 1,000 NFTs created by Cherniak’s special p5js script. It’s the highest-selling Art Bocks Curated collection, each selling out at 0.1 ETH within 20 minutes of being released, and skyrocketing in price on the secondary market.

Cherniak stated that he played for algorithms for years to automate the wrapping of a string around a set of pegs with different layouts.

The one-piece that made history was Ringers #109, selling for 2100 ETH ($7.1 million).

11 – CryptoPunk #7804 (Larva Labs) – $7.6 million

As you can imagine by this point, CryptoPunks are among the highest sold NFT collections in the world. Not only are they the OG’s of NFT collections rising in popularity, but they are also notorious for being some of the first NFTs to be implemented as Twitter profile picture flexes.

CryptoPunk #7804, one of the coveted teal-skinned alien punks smoking a pipe and wearing gangster sunglasses was sold for 4,200 ETH ($7.5 million).

10: CryptoPunk #3100 (Larva Labs) – $7.67 million

This one was one of the first major CryptoPunk sales and also the last on-chain alien punk sales, being one of nine. It happened on March 11, 2021, and was pivotal in the growing interest of the general population in crypto punks. Despite being one of the exclusive alien punks, CryptoPunk #3100 hasn’t been featured majorly on social media.

9: CryptoPunk #5577 (Larva Labs) – $7.7 million

CryptoPunk #5577 Is the cowboy wearing ape NFT, purchased by the founder of Compound DeFi protocol, Robert Leshner. Funnily enough, Leshner tweeted “Yeehaw” upon purchasing the NFT, prompting many users to congratulate him on his purchase. It was sold on OpenSea for $7.7 million.

8: Cryptopunk #4156 (Larva Labs) – $10.26 million

CryptoPunk #4156 was sold for 650 ETH ($1.26 million) on February 18. The ape trait is only present in 0.24% of crypto punks, which is most likely part of why this one was so expensive overall. It was purchased after an initial $1.25 million sale, marking one of the highest returns on investment from an NFT purchase.

7: Tpunk #3443 (Tpunks) – $10.5 million

Next up, we have Tpunk #3443, which sold for 10.5 million, or 120 million TRX. Tpunk is a collection of 10,000 Avatars existing on the Tron blockchain instead of Ethereum. This one is known as the Joker punk and was purchased by TRON Blockchain founder Justin Sun in August 2021. This is also the most anyone has paid for an NFT on Tron.

Ironically, a pixelated punk project inspired by CryptoPunks ended up selling for more than many of the rarest punks out there.

6: CryptoPunk #7523 (Larva Labs) – $11.8 million

CryptoPunk #7523 comes up next, selling for $11.8 million at Sotheby’s in May 2021. CryptoPunk #7523 is the third rarest punk in the collection, being part of the ultra-rare alien punks featuring blue-green skin and a medical mask.

Its buyer was Israeli entrepreneur Shalom Meckenzie, known for being the largest shareholder of the digital sports company DraftKings.

5: CryptoPunk #5822 (Larva Labs) – $23.7 million

CryptoPunk #5822 was bought by Deepak Thapliyal, the CEO of Chain, for a mind-blowing 8,000 ETH ($23.7 million). This is the most expensive crypto punk sale of all, and one of the notorious alien punks, of which only 0.09% have the trait.

4: Human One (Beeple) – $28,985,000

Even among the most unique of NFTs, Human One manages to stand out as an avant-garde piece of digital art.

Human One is both a physical and digital sculpture, a 7 ft tall rectangular sculpture that features four large LED screens presenting us with an astronaut walking through changing environment. Every display is selected at random every 24 hours.

It cannot get more Beeple than that, except for Beeple’s other NFTs which took over even this one in pricing. Human One is so unique that only Beeple himself could outdo this, as we’ll see in the following entries.

Human One achieved a sky-high $28,985,000 at the auction at Christie’s. It was purchased by Swiss entrepreneur Ryan Zurrer.

3: Clock (Julian Assange & Pak) – $52.7 million

Next up, we have Clock, an NFT that shows a timer counting every day that Julian Assange has spent in prison. AssangeDAO won the bid for Julian Assange and Pak’s Clock NFT, which sold for 16,953 ETH, at the time equating $52.7 million.

Assange is the editor and publisher of WikiLeaks, possibly facing 175 years in jail and extradition to the US. The purpose of the auction is to raise money to help finance his legal defense. After his arrest, the organization AssangeDAO has made its primary mission the fight for Assange’s liberty.

The sale became notorious due to how controversial Assange’s case has been, especially considering how Park is an artist who values their anonymity above all things, becoming one of the highest-grossing living artists while remaining anonymous through his entire career.

2: Everydays: The First 5000 Days (Beeple) – $69 million

It was Beeple’s Everydays: The First 5000 Days, that brought the word NFTs to the top of search engines for a whole season. People got to know that NFTs existed and began getting into the space by the time Christie’s auctioned this immense JPEG file for a mind-blowing $69 million.

If there’s any piece that made Beeple famous (and rich, obviously), it’s this one. Everydays: The First 5000 Days is currently owned by Vignesh Sundaresan, also known as MetaKovan. Sundaresan is a crypto investor and also the founder of the Metapurse NFT project, based in Singapore.

1: The Merge (Pak) – $91.8 million

Managing to outsell even Beeple, anonymous artist Pak’s NFT “The Merge” sold for $91.8 million in December 2021 on Nifty Gateway.

The sale has set the record for the highest ever sold NFT and also artwork publicly sold by a living artist. Pak set a record at Art Basel.

The Merge offered buyers several masses, known as singular tokens that could be bought as single pieces or in bulk. The sale was hosted for three days, with an incredible 28,000 buyers spending massive amounts of money to buy the possible 266,445 masses. If any of the buyers already owned another artwork by Pak, they could go down to $299.

The Merge was sold as an open edition, from Thursday through Saturday. Interested buyers could purchase any number of tokens starting with a unit price of $US575, increasing to $25 every six hours. The more buyers the artwork got, the bigger their mass got.

Final words

Considering how Pak and Beeple are the creators of the top 3, top 1, and top 2, 4, and 5 most expensive NFT sales, it’s safe to say that both of them are the most prolific living NFT artists in the world. Collectively, both of them have made multi-millionaire fortunes by selling NFTs.

Ready to learn more about how you can follow their steps? Check out our guides on how to make money with NFTs here!

Originally Published on our website - https://whatarenfts.com/the-15-most-expensive-and-famous-nfts-sales-of-all-time/

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whatarenfts · 2 years

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5 Best NFT Art Projects to Buy 2022

What is NFT art? Short for non-fungible tokens, NFTs are unique digital assets that can’t be replicated.

They’re perfect for collectors because each one is totally different from the next, and many of them offer additional benefits on top of the possible profit from resales. Today, we’re going to take a look at some of the best NFT art projects to buy in 2022.

Whether you’re a seasoned collector or just getting started, these projects will interest you. So without further ado, let’s get started!

Fifth Place: Doodles

Doodles is one of the most notorious NFT projects in existence, known for being one of the most significant PFP NFT projects and featuring light-hearted, silly characters with pastel and rainbow colors.

The project was launched on October 17, 2021, priced at 0.123 ETH per mint. Doodles is a collection of 10,000 PFP NFTs using generative art created by Tulip, Burnt Toast, and Poopie. Before working on Doodles, Tulip and Poopie had worked on the CryptoKitties NFT project back in 2017, while Burnt Toast was working on his personal NFT pieces and creating his audience in the NFT space.

Using generative traits, similar to CryptoPunks and BAYC, Doodles created a collection of humans, apes, aliens, skeletons, and all sorts of fantastic creatures, all using the same pastel aesthetic.

Part of their strategy, which was eventually emulated by all the NFT projects that came afterward, was whitelisting the NFT by closing their Discord when 1,000 members had joined. This helped increase the project’s exclusivity and served as a hallmark of NFT collections that benefit early investors in the project.

On top of that, Doodles developed a decentralized autonomous organization (DAO for short), where every Doodle owner gets voting rights and opens the DoodleDAO treasury. For every Doodle held by an owner, they’d earn a vote towards all the decisions taken by the DoodleBank.

Once the 10,000 Doodles ran out, the Discord server opened again, as did Doodles’ resale market. While the Doodles NFT project is already sold out, their value in the resale market makes them a viable choice to purchase as a secondary sale. As one of the pioneers of the NFT world and being backed by big-name NFT celebrities and creators, it wouldn’t be surprising to learn that one of the Doodles sold for as much as a CryptoPunk in the future.

Fourth Place: Edenhorde

Edenhorde is more than a PFP NFT collection: it’s an immersive NFT world with in-depth worldbuilding, praise-worthy art, and a team involved in bringing fans of the project into the fictional wildland of Edenhorde.

Edenhorde’s developing team is Merit Circle. Character design was performed by Andy Ristaino, an Emmy Award-winning artist known for designing and storyboarding Adventure Time. In fact, the Edenhorde character artwork somewhat resembles the character design featured in the famous Cartoon Network show. Their website is as immersive as their project, featuring a PFP generator and subpages containing the lore behind each tribe and each episode. Their manifesto expresses how they want to build a world in Web3, using 8800 Edenhorde NFTs and possible future spin-offs. They also grant rights to the image purchased as an NFT, allowing holders to build a personal brand, potentially allowing the potential of RPG in a Metaverse.

Merit Circle is a gaming DAO. They’ll feature eight episodes as part of their narrative arc, allowing holders to claim additional free NFTs by interacting with the story. The world of Edenhorde is composed of four main tribes: Babbumatta, Larriks, Gadirans, and Oru.

The Babbumata are docile plant-like beings who inhabit the forests of Edenhorde, with mastery over spirit powers and honoring the forest spirits of the world.

Larriks are the closest race to humans, being nomadic humanoids that dedicate themselves to foraging, hunting for food, and visiting the waterways of Edenhorde.

The Gadirans inhabit the only urban settlement in Edenhorde, Gadira. They are a maritime tribe with constant infighting, corruption, and political intrigue.

The Oru are robotic creatures that do not need rest and have unknown social structures that find themselves constantly rusting due to Edenhorde’s waterways.

Considering the effort to make Edenhorde unique yet still providing good benefits to Edenhorde NFT holders, it might be wise to purchase an NFT of a tribesperson described above.

Third Place: Invisible Friends

Invisible Friends is known by many as the best animated NFT to buy. Not only is it developed by award-winning digital animator Markus Magnusson, but it’s also one of the most highly anticipated NFT projects of 2022.

Invisible Friends is based on Ethereum and is part of the Random Character Collective (RCC). The Random Character Collective is a community of artists featuring SlimHoods, Lucas Zanotto’s Mood Rollers, and Invisible Friends. They might add new artists and new NFT collections in the future as they evolve.

Invisible Friends collaborates with famous digital artist Markus Magnusson and is based on Ethereum. It’s part of the Random Character Collective, a famous macro collection of animated NFT projects initiated by digital artist SlimJim, who wanted to focus on his SlimHoods NFT collection.

Project fans could only get one of the Invisible Friends’ whitelists by holding SlimHoods or MoodRollers. After minting, they could be purchased in the secondary market through OpenSea.

Invisible Friends features crisp artwork and is one of the most supportive NFT communities in the NFT space.

Magnusson described Invisible Friends as a collection for people still kids at heart and who want to have fun on the internet. Essentially, an easy-going type of NFT holder who enjoys quality art.

Interestingly, the project featured an ultra-exclusive 1/1 gold NFT, known as the Golden Friend NFT. It sold for 499.69 ETH at the time, or $1.32 million. It instantly catapulted Invisible Friends to the coveted list of the most expensive NFT projects ever sold. The auction winner also received five secret Invisible Friends NFTs.

Second Place: Satoshi Runners

Satoshi Runners is an NFT art collection of 7,777 particular NFTs that bring together breeding, staking, and benefits for their NFT holders. They collaborate with world-class artists and famous NFT holders from important NFT collections. They’ve reportedly collaborated with more than 250 Bored Ape Yacht Club and Mutant Ape Yacht Club NFT holders, CryptoSkulls, Nanopass, and even CryptoPunks holders.

Satoshi Runners reached the forefront of the NFT community thanks to them bringing pixel art to the forefront of the crypto community. Previously, pixel art was mainly seen as an old-school video game genre or a quirky art style that no one should take seriously, much less pay for a pixel art digital piece.

Satoshi Runners’ public sales were held on March 1, 2022, with its presale occurring 24 hours before public sale and following the whitelisting model. To be part of the whitelist, members of Satoshi Runners had to join the Discord and follow some steps.

Similar to the benefits offered by Bored Ape Yacht Club, Satoshi Runner’s holders own all IP rights of their specific NFT. They can create and sell their merch, auction it off or advertise it, among other fantastic features.

First Place: Mythia: Origins

Mythia: Origins features 1,000 CyberPunk characters that are also PFP NFTs.

What’s interesting about this NFT art project is how it grants you several benefits just for being a Mythia: Origins NFT holder.

Their OpenSea page describes the benefits as such:

Daily intel reports, including information from the most exclusive NFT Discords.

They summarize the intel to provide you with profitable opportunities for investment.

They also have software tools built to give you an advantage over other NFT holders, such as trade tracking, sniping, and other gizmos for NFT trading.

Their community is filled with dedicated and experienced analysts who scout the markets for promising projects. Mythia: Origins is a must-have project if you’re looking into buying other NFT projects.

The team is into providing real-time alerts and sharing essential podcasts of NFT news. Holders also have rights on where to direct the team decisions and voting on which NFT tracking tools they want the most.

Their objective is to help NFT owners to get ahead in the world of NFTs.

Mythia: Origins’ floor price sits at 0.18 ETH, and they have 595 current owners.

Which is the best NFT art project to buy?

Remember that the best NFT art project to purchase is one you’re passionate about and see potential for profit. If you enjoy RPG’s and storytelling, Edenhorde might be a good buy. If you enjoy light-hearted PFP’s with a strong ROI, Doodles might be a better idea.

The best NFT art projects to buy in 2022 are either early birds in the NFT game or incredibly innovative art projects that feature cross-media features and immersive NFT stories.

Check out our other guides on how to make money using NFTs if you’re interested in investing on NFTs.

Originally Published on our website - https://whatarenfts.com/5-best-nft-art-projects-to-buy-2022/

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whatarenfts · 2 years

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Coinbase launches NFT marketplace in Beta

It’s official! Coinbase NFT is here.

Coinbase is the fourth largest crypto exchange globally, and similar to other big companies joining the NFT hype train, they have released their own NFT marketplace.

There’s a new NFT marketplace coming out every other day, so what makes Coinbase NFT special?

It’s the only NFT marketplace to focus on social media community creations, marking a new age of NFT marketplace features that might disrupt the NFT environment.

Today, you’ll learn about Coinbase NFT’s beta launch and what features make it stand out from other NFT marketplaces:

What is a crypto exchange?

Cryptocurrency exchanges are digital platforms where you can purchase, sell, and trade crypto. To buy crypto from a crypto exchange, you need to create an account on one of their trading platforms to exchange your currency of choice for digital assets. There’s the option to cover cryptocurrencies back into fiat currency to be withdrawn to a bank account.

You can also exchange crypto for another in a cryptocurrency exchange, similar to how foreign exchanges work.

Some major cryptocurrency exchanges include Binance, Gemini, Kraken, and, of course, Coinbase.

NFT marketplaces use crypto for their transactions. This means that crypto exchanges are necessary for NFT marketplaces to thrive, as it’s impossible to find an NFT marketplace that supports credit card transactions in the present day.

Though sometimes the terms are used similarly, crypto exchanges and NFT marketplaces aren’t the same.

What is Coinbase?

Coinbase is a crypto exchange where users can buy, trade, and store almost all cryptocurrencies and altcoins, including Bitcoin, Ethereum, LiteCoin, etc. There are roughly 50 cryptocurrencies available on Coinbase.

Coinbase is considered easy to use for crypto amateurs, and it allows you to exchange cryptocurrencies quickly. It also supports the feature of earning interest on eligible balances or earning cryptocurrency through Coinbase Earn. On the other hand, transaction fees can be slightly more expensive than in other marketplaces on the primary Coinbase platform. This is because the faster and easier for users to trade cryptocurrency in an crypto exchange, the higher the fees to be paid.

What is Coinbase NFT?

Coinbase NFT aims to provide a better way to discover NFTs, a better way to find the right communities, and better spaces where people can feel connected.

Coinbase NFT has some essential features that haven’t been implemented in the beta yet but will be implemented in the coming weeks and months. Depending on how each possible beta tester got into the waitlist, they’ll be added to test the platform.

They also expressed the intention to decentralize some of their features by transferring them from Coinbase tech to decentralized solutions.

How can I join the Coinbase NFT beta?

Beta testers have been commenting “gm” (good morning) all over the beta marketplace to try out the commenting function available for NFT projects.

Beta testers on Coinbase NFT can create a Coinbase NFT profile to trade NFTs using a self-custody wallet. It could be a Coinbase Wallet, which is already a convenient possibility, as it could also be any other wallet. The beta testers were those at the top of Coinbase NFT’s waitlist, where they were allowed to create a profile to showcase their traded and created NFTs. In the coming weeks, it’ll be made available to everyone over the age of 18.

Will Coinbase NFT have marketplace fees?

They haven’t added fees yet, but they’ll soon be providing them once the marketplace goes live and provides notice before anything changes. Fees on Ethereum blockchain-based marketplaces are necessary to be in-line with Web3 industry standards. It’s said that their fee will be a low single-digit fee. Let’s remember that each marketplace has their own marketplace fee on top of the miner’s fee from the blockchain they are based on.

Since Coinbase NFT is based on Ethereum, this essentially means that the market will have a double fee: one for using Coinbase NFT’s service and another for Ethereum’s gas fees.

Among the collections they are showcasing in their beta launch, we can mention Doodles, Azuki, and World of Women. As Coinbase NFT is based on Ethereum, any Ethereum-based collection will be accessible on their marketplace. Alex Pulitzer, product lead at Coinbase NFT, stated that more blockchains would be available on Coinbase NFT too, similar to how OpenSea has recently implemented blockchain integration with Solana.

Coinbase NFT will support Ethereum-based ERC-1155 and ERC-721 standards, all NFTs being on-chain.

What makes Coinbase NFT special?

Coinbase NFT is unique in that it also wants to implement a web3 social marketplace modality. It allows users to buy and sell NFTs just like any other NFT marketplace would, but it also features the option of engaging with creators from the NFT communities they own.

Think of it as a Facebook or Instagram profile. Other marketplaces only provide you with essential information about the NFT artist, related projects, and some flavor text in each NFT description. Coinbase NFT proposes a marketplace where users can comment, follow and interact with each other.

Community in the world of NFTs is critical. There’s a reason why some of the most significant NFT projects have a dedicated team for social media, Discord, and sometimes even Reddit, constantly uploading updates on the project, milestones from their roadmap, and important alerts about their blockchain.

Managing so many channels causes segregation of resources for NFT project creators. NFT projects must be on top of their marketplace(s) of choice while also answering user questions, hosting Q & A’s, lives, and moderating Discord groups.

Imagine having all of that in one place. This is why Coinbase NFT’s proposal seems to revolutionize the standard of NFT marketplaces in 2022.

Their release article posted in The Coinbase Blog described how you’d create a profile representing your digital self and curate it with NFTs you own. You can connect a self-custody wallet to select the NFTs you wish to highlight on your profile. Their screenshots show icons similar to those other social media platforms use, representing a heart, a chat bubble, a share button, an expand option, and three dots.

One could infer that this means that Coinbase NFT seeks to add likes, comments, shares, and possibly other social media integration tools to spark conversations instead of listing static NFTs on the web.

Comments have the option to be upvoted or downvoted. Users will also have access to a Discover feed that provides AI-based personalized NFT recommendations, similar to how Instagram’s algorithm shows you content based on the content you tend to search.

How will Coinbase NFT fare against the competition?

Coinbase NFT’s main competition, OpenSea, has seen better days. Despite still standing strong as the leading NFT marketplace in terms of sales volume in 2022, OpenSea has seen a fall in NFT sales of 67.2% in the last month. It might be Coinbase NFT’s opportunity to present a new format on NFT marketplaces and possibly climb to the top.

On top of that, search interest in NFTs has also declined ever since its boom in October 2021. Some think that Coinbase is getting late into the NFT’s game, but considering the new features that set them apart from other marketplaces, they might be responsible for heralding a new age of social NFT marketplaces.

Coinbase isn’t the only crypto exchange creating its own NFT marketplace. Binance, another major crypto exchange, also has its own centralized NFT marketplace. However, none of Coinbase NFT’s rivals have developed a marketplace with inbound social media features.

Coinbase NFT’s team has expressed possible collection drops by partnering with famous NFT artists to promote their platform. Sanchan Saxena, VP of Product. They are already listing NFTs from significant collections such as World of Women, and their team has expressed interest in giving birth to the next Bored Ape Yacht Club.

Final words about Coinbase NFT

The Coinbase NFT marketplace is a big deal because it’s the only one that focuses on social media community creations. This opens up new possibilities for users and creators alike to engage in direct ways that bypass social media platforms.

Those who join Coinbase NFT as their primary marketplace might opt out of Discord, Instagram, and Twitter and instead focus on promoting their work using the social web3 features.

On the other hand, others might choose to promote their NFTs on the traditional channels while also growing a following on Coinbase NFT. As Coinbase NFT is still in the beta stages, it might be too early to tell what will be the best course of action for an NFT artist trying to make it big there.

If you want to learn more about Coinbase NFT, check out their website here. Also, learn more about NFT marketplaces in our special guide here.

Originally Published on our website - https://whatarenfts.com/coinbase-launches-nft-marketplace-in-beta/

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whatarenfts · 2 years

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How to Create an NFT Art?

Who would have thought that something as simple as a pixelated illustration of a person could be worth millions of dollars?

NFT art is taking the art world by storm, and business people everywhere are looking to get in on the action.

But what is NFT art, and how can you create your own piece?

This blog post will explain everything you need to know about this up-and-coming trend.

What is an NFT?

An NFT is a collectible, unique and non-duplicable digital asset. NFTs can take the form of almost all types of digital files: JPEGs, PNGs, MP4s, PDFs, GIFs, and more. You name it, and there’s probably a way to mint it as an NFT.

NFTs are bought and sold through NFT marketplaces, a digital platform where artists can list their NFTs for sale.

What is NFT art?

Any NFT minted and created by an artist for public appreciation, expression, or social commentary can be considered NFT art. It’s no different from physical art because an artist makes it to evoke emotions in public.

As NFT art is purely digital, many NFTs are created through generative art. Generative art uses a predetermined system designed by the artist to develop a set of natural language rules for a computer or machine. This includes an element of chance applied to computer-based art.

This is why many NFT projects you see on NFT marketplaces include a massive number of pieces with recurring traits. Take a look at CryptoPunks, for example.

All CryptoPunks are essentially pixelated humans with realistic or fantastic traits. There are 10,000 of them, and some traits are rarer than others, making these particular Punks more valuable.

Traits can include skin color, accessories, eye color, expression, and mutant characteristics. The maximum number of traits a CryptoPunk can have is seven, but only one punk exists with seven features, CryptoPunk #8348.

Many famous NFT art projects have been created through generative art, but not all NFT art is done through generative computer programs.

Now that we understand the basics, what are the benefits of NFT art?

NFT art is safe

When NFT art is created, it’s minted on the blockchain, a tamper-free digital ledger that keeps track of all transactions in a difficult way to counterfeit, scam, or hack. NFT art obtains value because it is unique, in the sense that thanks to Blockchain technology, you can track copyright ownership and keep records of creation.

While one could argue that digital files can be easily replicated, copied, and pasted wherever anyone wants, NFTs are free from this possibility. This is because NFTs are traded with digital certificates that prove digital asset ownership.

Only one person can own one of these digital certificates at a time, and they are protected by blockchain technology.

In other words, NFT art can be easily traded through NFT marketplaces, but cannot be forged, tampered or counterfeited through other means.

NFT art can be very valuable

This process helps NFT artists gain a formal appreciation for their work.

NFT art is a new way of categorizing digital art to enable designers to monetize their work. It’s faster for artists and content creators to create content that sells at their desired price.

With NFT art, long gone are the days of chasing customers for payment, endless revisions, and changing work to suit a client’s needs.

The value of any piece of NFT art is highly dependent on what the community is willing to pay for it. People are willing to pay more for unique NFTs that can become more valuable with time or NFTs created by a famous person.

If a celebrity were to release a piece of NFT art, it might be seen as more valuable than an NFT released by a standard content creator. Memorabilia and collector’s items, such as the digital files of The Beatles’ “Hey Jude” lyrics Beatles’ sold by Julian Lennon.

The more well-known the artist, the more people will perceive it as valuable, and the higher the price the NFT can attain.

This explains why less artistic items such as the very first Tweet by Jack Dorsey was sold for $2.5 million.

NFT art gives artists freedom

NFT art allows artists to express themselves freely on the blockchain. Artists aren’t limited by canvas or photography. Instead, they can create digital wonders such as Beeple’s Human One sculpture.

NFT art allows artists to produce controversial, groundbreaking, and unusual works ranging from pixelated illustrations with attitude to complex, street-style 3D animations.

Rates charged on some platforms can get higher than NFT traders expect, which will also affect the price of the NFT. There are ways to bypass gas fees or lower them as much as possible. To learn more about how to do this, check out our guide on how to mint an NFT for free.

Choose an NFT marketplace

OpenSea is the industry’s largest marketplace, hosting billions in NFT sales every month, and has recently implemented Solana NFTs as part of their collections.

The first step to creating NFT art is setting up your crypto wallet and choosing the best NFT marketplace for your needs. There’s a wide number of NFT marketplaces available right now, with many more being released with every passing day.

Choosing your marketplace is important because it provides you with insight into which audiences frequently purchase from their marketplace.

Set up your crypto wallet

Next, it’s time to set up your crypto wallet. Depending on which marketplace you choose and the blockchain where the marketplace resides, you’ll have to select a crypto wallet using the same blockchain.

A crypto wallet is an app that allows crypto users to store their digital assets. The wallet isn’t used to spend cash but to keep all of your NFTs and private keys safely stored in one place. The wallet doesn’t store crypto, as your funds live on the blockchain.

The crypto wallet provides access to the private keys, which prove ownership of your NFTs and allow you to perform transactions on the blockchain.

To make things easier, we’ll work with OpenSea. One of the best crypto wallets for OpenSea, which is based on the Ethereum blockchain, is Metamask.

Once you install MetaMask, go on OpenSea and click on the icon in the right corner above.

Click My Profile, press Sign In, and follow the instructions to set up your crypto wallet.

Remember that sharing your crypto wallet password or seed phrase is a considerable risk, and you shouldn’t disclose it to anyone.

How to mint NFT art?

To mint an NFT on OpenSea hit Add New Item. The following page will provide you with the space for your NFT’s metadata, the file type, and the name of the NFT. You can also add an external link and enter a description. A good description can make it more appealing to buyers, and an external link could direct buyers to a website, a social media page, or even an article.

Once you’ve added all the information, click Create, and you’ll be sent a message to your wallet. Sign it, and you’ll have minted your first piece of NFT art.

Once you have created the item, it’s time to list your NFT for sale. Head to the asset page for the item you created and press Sell.

You can then choose between a fixed-price listing or an auction and set the price for the NFT.

You’ll have to pay a gas fee before your first listing if it’s the first time you’ve sold on OpenSea, creating a smart contract for your wallet. While relatively expensive, you only have to do it the first time around.

The transaction might take some time to complete if you attempt it during a congested hour or weekday. You might have to close the page and return later to try it again. Once the system recognizes that the wallet has completed the transaction, you won’t be asked to pay any additional gas fees afterward.

Beware that you might not make sales as soon as you mint your NFTs. There are tens of thousands of NFTs being minted worldwide every day, aiming to attract possible buyers’ attention.

It’s much easier to sell your NFTs if you have an existing audience willing to buy them, as many big brands such as Adidas have done. However, if you don’t have an existing audience, you can still mint your NFT and promote it on social media.

The best way to start drawing attention to your NFT projects is by performing airdrops and interacting with other NFT artists on social media. Promote their projects, retweet their giveaways, and join their Discord groups while marketing your own work.

Soon, you’ll have your first buyer, which will raise awareness of your NFT art.

Final Words

Simply put, Non-Fungible Tokens are unique digital assets that cannot be replicated. This makes them perfect for use in the art world, as each piece is entirely one-of-a-kind.

NFT art gives power back to the artists, providing them with means of making income without intermediaries marketplaces snatching their income with service fees.

If you’re looking to create your own work of art, we have a few guides to help you get started. Check out our guides on how to make money with NFTs here!

Originally Published on our website - https://whatarenfts.com/how-to-create-an-nft-art/

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whatarenfts · 2 years

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The 15 Most Expensive and Famous NFT Sales of All Time NFTs, or non-fungible tokens, are a new kind of digital asset that has exploded in popularity ever since 2021 and don’t seem to be stopping anytime soon in 2022.

Originally Published on our website - https://whatarenfts.com/the-15-most-expensive-and-famous-nfts-sales-of-all-time/

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whatarenfts · 2 years

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The Best Software to create NFT Art is the one you feel more comfortable using. Here is a list of free and paid options that will help you. Many people are interested in creating NFTs but have no idea which software to download to do this. Some might just say Adobe Illustrator or Photoshop, though these apps do not yet feature direct integration with NFT marketplaces.

You can indeed use them for creating art files that you can later mint into NFTs, though there are other apps specifically focused on the creation and minting of NFTs in the most efficient way.

Originally Published on our website - https://whatarenfts.com/best-software-to-create-nft-art/

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whatarenfts · 2 years

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How does an NFT marketplace work?

Every day, we hear something about a new NFT marketplace being launched or an existing NFT marketplace making headlines because an NFT was sold there by several million dollars.

Even Instagram and Facebook might possibly become NFT marketplaces or feature the possibility of NFTs being sold on their platforms in the future.

Originally Published on our website - https://whatarenfts.com/how-does-an-nft-marketplace-work/

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whatarenfts · 2 years

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Generative Dungeon – Where Every NFT is its own Game

Advertised as artwork you can play and create by DungeonMasterReal, Generative Dungeon features 3000 interactive dungeon-themed NFTs.

Imagine Roguelike dungeons with potions, monsters, wizards and all sorts of pixelated wonders made both an NFT and a game. The dungeons are old-school and playable on any browser, similar to the dungeons featured in the 1990s and early 2000s era games. That’s correct!

Generative Dungeon offers a collection of NFTs that are simultaneously interactive video games. When you purchase the NFT, you’re also purchasing the Generative dungeon game. Early versions of the game are also available on OpenSea.

Source – https://generativedungeon.com/

Overview So, how does it work, exactly? The dungeons in Generative Dungeon are minted on the Ethereum network, with rarity increased based on traits such as the type of dungeon, the number of floors (infinite being the rarest), and the avatar on-screen.

The traits available are the following:

Tilesets: 8 unique tilesets

Avatars: 20 unique avatars

Monsters: 50 unique monsters

Starting Zones: 24 unique starting zones

Starting Scrolls: 10 unique starting scrolls

Floors: Minimum ten, maximum infinite floors

Dungeons: 3,000 unique dungeons available Each of them is also optimized for instant load times and you can play them on their website or on OpenSea.

For example, a wizard avatar on an infinite floor lava dungeon would attain a higher rarity than a peasant avatar on a ten-floor prairie dungeon.

Similar to how play-to-earn games work, you’ll also be able to play your unique NFT dungeon, earn tokens and even rent out your dungeon for other people to play. When they earn money in your dungeon, you also get a cut of their earnings.

The dungeons are all procedurally-generated artworks that work as fully-fledged games themselves. To have a better understanding of how it works, check out these examples they have available on their website.

Talk about Metaverse compatibility in a roguelike NFT game. The dungeon is also playable on mobile, with the team recommending players turn their phones sideways to play in landscape mode. You can also access the NFT directly using the viewer URL.

Roadmap

Generative Dungeon has a strong team and a successful project that has provided those interested in learning more about this NFT project several marks on their roadmap. As for the first quarter of 2022, Generative Dungeon has come up with Generative Avatars, a collection of generative art characters playable with Generative Dungeon. The owner can switch their avatar to be a pixelated version or an anime-themed version, essentially allowing them to own 2 NFTs in one.

The avatars are procedurally-generated characters with armor, hair, clothes, and weapons. They feature adventurer, dwarf, elf, and wizard character classes and are mintable by all Generative Dungeon holders as long as the dungeons are unlisted. They only have to pay gas fees.

In Summer 2022, they’ll be featuring a new dungeon generator with an isometric perspective, featuring playable Generative Avatars, and an expansive, procedurally generated wilderness that can help explore multiple cities and dungeons. It features new quests, magic, weapons, and inventory systems, on top of more monsters and loot. It’s compatible with Generative Dungeon, where you can play your dungeons from a whole new perspective.

The project itself has a low cost of entry, ranging from 0.3 to 0.7 ETH. The Generative Dungeon project was kicked off by the Dungeon Master, who serves as the team’s lead artist and programmer (@gendungeon) out of a wish to create an interactive, instantly loading NFT collection that could be directly played on OpenSea like none have seen.

Originally Published on our website - https://whatarenfts.com/generative-dungeon-where-every-nft-is-its-own-game/

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whatarenfts · 2 years

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How much real money can you make from virtual art?

The rise of NFTs has caused the boom of virtual art in online marketplaces. NFTs are digital assets that can take the form of artworks, photos, videos, songs, books… if it can be a digital file, there’s a way to mint it as an NFT.

One of the net positives of NFTs and virtual art is that it provides artists more power, independence, and freedom in how they sell their art. Instead of submitting to intermediaries and the requirements of art platforms, they just have to mint their NFT on a respected marketplace and proceed to market their work and art on social media effectively.

Many skeptics wonder how NFTs and virtual art can truly become valuable if they are digital files that can be duplicated with minimal effort for all intents and purposes. Unlike physical artworks, digital art is perceived as cheap, even though the most expensive NFTs have sold for mind-boggling amounts of money that many physical artworks rarely manage to reach.

Let’s find out how much real money you can make from virtual art today:

What is buying an NFT?

Once you purchase an NFT piece of virtual art, you have complete access to the digital file or links where the file is stored to do as you please. Many people tend to display their virtual art as part of their profile pictures on social media accounts.

Virtual art NFTs have a specific serial number, and the transaction history of each NFT is stored on the Blockchain. It’s easy to look up the wallet address where the NFT was owned so people can take a look at who the original owner of the NFT is. The process in which an NFT becomes part of the Blockchain is called minting.

Some virtual art success stories

One case of an NFT appreciating and providing its early investors with a massive source of income is that of a young man who bought two Bored Ape Yacht Club NFTs for just a couple hundred dollars and several months after, the BAYC NFTs skyrocketed in value to the point that he could sell both of his BAYC NFTs for a combined sale price of 84 ETH, at the time valuing $231,000. He had used the money from the sale for a down payment on a three-bedroom house in Los Angeles.

Who would say that purchasing digital apes for a couple of hundred dollars would net him enough money to upgrade?

For more information on the Bored Ape Yacht Club NFT collection, take a look at our article here.

Claire Silver

Claire Silver is an artist who works with AI, and one of the most awe-inspiring stories of NFT trading in history. Almost like a mirror to Pollak’s story, Silver was given three CryptoPunks by an individual she met on a Slack group about cryptocurrency. The individual had 730 CryptoPunks (imagine having so many in the present day.

Silver held on to her CryptoPunks until 2020 rolled by and she heard the figures that they were selling for a lot of cash. She sold one in July 2021 for $60,000 and still holds to the other CryptoPunks, which she could quickly sell for a combined price of over a million dollars.

On top of that, Claire is an artist who makes her own NFTs and earns a lot of money from the resales. Just one of her pieces of NFT art sold for 15 ETH ($63,000)

Thanks to buying and selling NFTs, Claire has obtained financial security. She came from humble origins, and thanks to the possibilities opened to her by the world of virtual art, she was able to materialize her dreams.

Virtual art can be a medium for us, humans to make our dreams into realities. As she expressed, she could walk into Walmart and buy premium products instead of cheaper options. It provided her with financial freedom and the possibility to travel worldwide, where big-name auction houses such as Sotheby’s were auctioning her work.

Collectors could claim CryptoPunks for free while they had an Ethereum wallet back in the day. A legitimate CryptoPunk for less than 75 ETH in the present day would be a miracle.

She used her money to provide her mom with a house paid for in all cash, and quoting Claire, she was getting one of the big red bows and stick it on the front door.

Alex Lugo

The story of Alex Lugo began in Lindenhurst, New York. Lugo was a trucker with two children and a wife, making $25 an hour. Considering the standard of living in New York, making that amount of money was practically insignificant. Eventually, Lugo researched more about cryptocurrency and NFTs to learn how to trade and change his lifestyle.

And was he successful in doing so, benefitting from owning real estate in the Metaverse near the Adidas HQ. This points to him being able to eventually sell these digital lands once Adidas or another major brand seeking to purchase virtual lands does so for a hefty amount. He’d obtain a return on investment from his digital real estate.

Lugo made enough money from these sales that, like other NFT artists, investors, and traders, he was able to upgrade and move to a two-bedroom apartment. However, he’s also looking to upgrade to a four-bedroom house in Lindenhurst.

Gossamer Farris

Gossamer Farris became a full-time artist based in Brooklyn, but it was only thanks to NFTs that she could get to that position without concerns. She graduated from college and worked a 9-to-5 at a student loan servicing center, doing her art as a side gig after work. Her art consisted mostly of illustrations, sculptures, and textile work. She’d also make small items like stickers people could purchase in her online store.

She had quit her job to take up another one as a tattoo artist, but working as a tattoo artist was a struggle on its own in the beginning of the pandemic. Then, the NFT boom arrived, and in the winter of 2021, people began releasing all sorts of NFT collections. Farris focused on her Filipino and Black heritage.

NFTs allowed Farris to pay off her debt, and she can now pay the rent while pursuing her dreams of making art.

Mike Winkelmann (Beeple)

Of course, we cannot forget to mention the biggest NFT success story of all time, that of artist Mike Winkelmann, also known as Beeple. Beeple has sold two impressively priced NFTs.

First, we have Everydays: the First 5000 Days, which sold for a mind-blowing 38,525 ETH ($69,346,250). There’s also Beeple’s Crossroads, which sold for $6.6 million at Nifty Gateway.

The success stories are proof that it is indeed possible to make real money from virtual art and NFTs. It is also smart to remember that not all NFT projects are created equally and many of these artists and traders held on to their NFTs way before they obtained that price.

What makes virtual art valuable?

Not all NFT projects have become valuable overnight. Even Bored Ape Yacht Club, currently one of the most famous and highest-valued projects took a while before it became a thing.

Virtual art could be thought of as one kind of baseball cards. Baseball cards have value because people believe they have value. Humans create value: they perceive the history, rarity, and relative scarcity of an item and confer it value based on the price they are willing to pay for it.

Major brands are buying virtual art

The fact that major brands have entered the NFT world and many more are trying to understand the digital space with their artwork is a sign that virtual art is going to become more and more mainstream the more people know how it works. Formula 1, luxury brands like LVMH, Walmart, Adidas, JP Morgan.. brands of all dimensions are coming into the world of virtual art with their own interpretations of it.

Investors and major brands are willing to pay for quality virtual art that also provides them with utility. It is possible to make money from virtual art if you can market it to a specific audience willing to pay for it.

Final words about virtual art

Indie NFT projects are on the rise, too, with more than a thousand NFTs being minted on OpenSea a day and many more selling all across the different NFT marketplaces, virtual art is slowly becoming many people’s full-time job instead of a particularly quirky side gig that might one day make you money.

It really has become possible for digital artists to make a large living and even massive wealth just from virtual art. It has served as a way for artists to dedicate themselves fully to making art full-time and finance the lifestyles of their dreams.

Originally Published on our website - https://whatarenfts.com/how-much-real-money-can-you-make-from-virtual-art/

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