Non-fungible tokens are speculative, just like other digital assets like Bitcoin and Ethereum. Since their supply and demand lead to volatility in their markets, these digital assets are subject to severe and incredible price swings, generating massive profits followed by double massive losses. in just a few hours. The NFT history timeline begins in 2014 with the first NFT, Quantum, created by Kevin McCoy. Meanwhile, most of the unique collections of non-fungible tokens appeared on the foundation of the Ethereum blockchain before coming into the limelight in 2017.
In 2021, the market for non-fungible tokens saw the highest level of hype in crypto history. Back then, the market hype had caused many digital collections to hit new all-time highs. The NFT market reached commercial sales of $2.9 billion by the end of 2021. But unfortunately, the NFT market has plummeted in recent months, causing many NFT projects to lose more than 70% of their value. The crypto market downturn begins in 2022. In recent weeks, the market has retested the hype. Below we’ve listed some of the craziest deals in NFT history:
NFT collector holding Jack Dorsey’s tokenized Tweet is a perfect example. An NFT of Twitter co-founder Jack Dorsey’s first tweet, which sold for $2.9 million last year, it’s now worth just $280. Jack Dorsey is an American Internet entrepreneur, philanthropist, and programmer who is a co-founder and former CEO of Twitter, Inc. Mekaverse is another NFT collection that has suffered a brutal comedown in the short history of NFTs. In 2021, Meka# 2194 sold for 500 ETH or nearly $1 million at current prices. Sadly, the NFT collection has plummeted in value to just 0.2 ETH. The NFT collection used to rival NFTs like Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs. Cool Cat #1,490 is another NFT collection that dropped steadily in value.
The NFT collection has dropped from 320 ETH or $600,000 to just 3.7 ETH. Launched in July 2021, Cool Cats is an NFT collection from Evan Luza and his team featuring a limited edition of 9,999 NFTs. The NFT Collector holding Autoglyph #420 is a perfect example of a top winner in NFT’s short history. This NFT collection sold for just 0.8 ETH in 2019. Thankfully, a few years later, the value of non-fungible token collections has increased exponentially. The maximum NFT collection value is 100 ETH.
Another NFT winner is an NFT collector holding CryptoPunk #5822, an NFT collection formerly owned by digital asset firm Larva Labs. In 2017, this NFT collection sold for just 8 ETH. Last year, the same NFT collection sold for a whopping 8,000 ETH, or over $15 million. The Wall St Bulls Ordinals is another NFT collection that shows great potential for future highs. The NFT collection, with 420 NFTs in circulation, launched last week and generated over $24,000 in trading revenue. Wall St Memes, the team behind the Ordinal collection, are also offering a pre-sale. The $WSM pre-sale is selling fast, and in just a few days he has already raised nearly $4 million.
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