Published on 9 Mar 2022 on Insider Monkey via Yahoo Finance
10 Most Expensive NFTs in the World
In this article, we discuss the 10 most expensive NFTs in the world. If you want to skip our detailed analysis of these NFTs, go directly to the 5 Most Expensive NFTs in the World.
The non-fungible token (NFT) market is one of the fastest-growing sectors of the blockchain sector, topping $40 billion in volume in 2021, a record that looks set to be broken this year. This increased interest is manifested through the volume of smart contracts on Ethereum that are linked to NFT marketplaces. Two types of smart contracts, identified as ERC-721 and ERC-1155, cater specifically to NFTs and have surged in the past few months. NFT-focused companies are also seeing a rise in investment, with OpenSea raising $300 million at a funding round in January, valuing the firm at over $13 billion.
In addition to funding NFT startups, investors are also viewing NFT-linked stocks with bullish views. Some of the top NFT stocks to buy according to hedge funds include Visa Inc. (NYSE:V), NIKE, Inc. (NYSE:NKE), and eBay Inc. (NASDAQ:EBAY), among others discussed in detail below. According to market tracker DappRadar, NFT sales hit a record $25 billion in 2021, a huge jump from the $94 million in sales volume seen during the preceding year. These did not include NFT sales by auction houses. The sales are around the same amount as countries around the world pledged for carbon reduction efforts at COP26.