DefiBids - NFT Auctions Are Coming + Some of the Most Expensive NFT Sales to Date

DefiBids - NFT Auctions Are Coming + Some of the Most Expensive NFT Sales to Date

By ShillzAndThrillz | Bid-Blog | 20 Jan 2021


One key milestone on the Q1 roadmap coming up for DefiBids in 2021 is NFT auctions, and here I'll explain why that's a big thing, before going on to explore some of the most expensive NFT sales to have taken place in this burgeoning new frontier market to date.  If 2020 was the year of DeFi, many are speculating that 2021 will be the year of Non-fungible tokens, or NFTs, for short.  While standard ERC-20 tokens and the like of any one kind are all essentially interchangeable for one another, NFT tokens are special in that each one is unique.  A quality that makes them particularly useful for such things as limited edition digital artwork, and collectibles.  With whole marketplaces such as Rarible, and Super Rare having sprung up to facilitate the buying and selling of these limited or indeed one-of-a-kind digital assets.  Marketplaces that DefiBids aims to collaborate with in Q1 to bring its users the hottest NFTs at the best prices over the next few months...


Where NFTs Began

While there were possibly blockchain devs tinkering in the background beforehand, in terms of the public consciousnesses, NFTs began back in 2017 with Cryptokitties.  A kind of digital collectible trading card, with each featuring a unique looking, tradable, and breedable NFT Kittie-cat.  And if you were around back in 2017 you'll remember the havoc the craze for these things caused to the Ethereum network, with the network becoming congested to the point of being almost unusable as people spent literally millions of dollars in attempt to secure and collect the rarest of what at the time was one of the most unique (if somewhat absurd) innovations to hit the blockchain-space.  

And while the Cryptokitties craze might have cooled off a little these days (though they still very much have a cult-like following and collector base), NFTs have continued to evolve and grow in popularity,  With figures taken from September 2020, showing that Rarible had transacted over 8.5 million dollars in turnover, with Opensea also turning over a cool 3 million dollars+ in a single month.  Proving that NFTs are now big-business...

Some of the Most Expensive NFTs Ever Sold

In December, 2020, a collector of rare digital NFT art and digital gaming non-fungible tokens known as "WhaleShark" paid the princely sum of 22 ETH (around 13 thousand dollars at the time) for a one-of-a-kind sneaker-themed digital mural, and blurring the lines between the digital and physical, accompanying physical sneakers.  Something that highlights that while NFTs are best known for their place in the digital art-space, they can transcend the boundaries into the real-world too.  Being used as a way to authentic ownership of rare physical goods.  Such as this rather bad-ass pair of AI-designed footwear from cyber-sneakers pimp, RTFKT, known as "The X Evolutions"...


Back in May of 2019 another keen collector of rare NFTs paid the sum of around $111,000 for a NFT F1 racing car for the game F1 Delta Time.  A one-of-a-kind in-game asset produced in official partnership with Formula 1.  The buyer, Metakovan, explained that his reason for purchasing this somewhat pricey collectible, was partly due to the official branding, but also due to his fondness for this new form of art, and the stories associated with them.  Even stating that this was not the most expensive NFT collectible that he had purchased to date...


While, not to be outdone, the caped-crusader gained attention in the NFT and blockchain-space in October, 2020, when a collection of rare digital artwork by artists Trevor Jones and José Delbo, sold for the sum of $200K.  Or 540 ETH at the time, which is equivalent to around 700 thousand dollars at time of posting.  Sold over at Makersplace by this pair of official DC Comics artists, the Batman-themed collection of NFT artwork comprised of five pieces, in the form of animated PNG files.  With the most expensive piece from the collection being purchased by collector "MaxStealth" for a whopping 302.5 ETH...


Something that illustrates that it's not just the future that's bright for this form of non-fungible digital collectibles, the now is pretty bright too.  And with other NFT marketplaces transacting millions of dollars per month, NFT auctions coming to DefiBids seems likely to take the newly launched DeFi auction house that is DefiBids, to the next level, when NFT auctions go live in over the next quarter.  

And while there's (upto) a few months to wait yet before that goes live, there's still plenty of action to be had on the platform right now for those searching to snag themselves a bargain in the cryptocurrency-space, where users can participate in lowest-unique-bid auctions for some of the hottest tokens in DeFi, such as the $5000 GRT (Graph Protocol) auction that went live just yesterday.  In addition to auctions for other popular crypto tokens such as ETH, LINK, and AAVE.  Which you can check out and particpate in HERE.  

Or alternatively, if you're not already familiar with the DefiBids platform and staking token (with 15% of all ETH used to purchase credits on the platform being paid out to stakers), you can read my short introductory post published at Publish0x HERE.  



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