Despite being around for only a decade, NFTs have made significant progress. Today, companies are increasingly adopting NFT technology for their operations, highlighting the sector’s far-reaching impact. The concept of NFTs was first introduced in 2012 with a project called Colored Coins, which aimed to tokenize the Bitcoins from the Genesis transaction. Since then, the NFT market has witnessed record-breaking sales and the emergence of token standards that have simplified tokenization. Key milestones in this sector include the launch of the Ethereum network in 2017 and the introduction of the ERC721 token standard. Before Ethereum, there were only a few NFT projects, such as Rare Pepes and Crypto Punks. However, today there are thousands of NFT collections on multiple blockchains. While there are concerns about the value of NFTs, the sector continues to grow. In the future, we can expect even more expensive NFT sales and new technological advancements. But before that, let’s take a look at the most expensive NFTs so far. The costs range from $6 million to $70 million, and their ethereum-equivalent value at the time of purchase. Now, let’s dive in and explore these valuable NFTs.
