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 non-fungible tokens (NFTs) was first introduced in 2012 with the project Colored Coins, which aimed to tokenize the Bitcoins generated in the first-ever block. Since then, the NFT market has experienced record sales year after year, with some reaching unprecedented prices. Significant advancements, such as NFT token standards, have revolutionized NFT projects by simplifying tokenization and increasing popularity. The launch of the Ethereum network in 2017 and the subsequent introduction of NFT token standard ERC721 are key milestones in this progress. Prior to Ethereum, there were only a few NFT projects, including Rare Pepes and Crypto Punks. However, today there are thousands of NFT collections running on multiple blockchains. While concerns about the value of NFTs persist, the sector remains on a growth trajectory, and we can expect to see more expensive NFT sales and technological advancements in the future. Before that happens, let’s take a look at the most expensive NFTs to date.
