These Six Figure NFTs Are Down 99%

by James · October 11, 2022

In the accounting world, if an asset can’t get any bids, its value is by definition closer to zero than any other number. Likewise, in the NFT world, those who spent over six figures on an NFT during last year’s bull run, but have since seen values plummet by up to 99%, are now “bags” that may be worth nothing.

Last year, the NFT market embarked on a bull run of unprecedented proportions with daily average sales reaching a record high of $178.46 million in July. The run carried over at the beginning of this year, with average daily sales in January of $189.5 million. Today, however, the average daily volume of NFT sales has fallen by more than 90% from its peak.

The most expensive NFT ever sold was CryptoPunk #9998, which sold for a whopping $530 million or 124,457 ETH. The bizarre exchange happened on October 28 last year, and whoever bought it appears to have spent millions of dollars on expensive NFT collections, including Fidenza and Meebits.

CryptoPunk #9998 sold for $530 million in October 2021.

Read More: CryptoPunks Volume Soars 1000% After Christie’s Set Auction

Some expensive NFT collections, such as Fidenza and Autoglyphs, have retained much of their value. However, this seems to be the exception to the rule. Other collections are well down from its all-time highsincluding the historic CryptoPunks – the first NFT avatar collection – and the Bored Ape Yacht Club.

Some NFT pools like Meebits have crashed in value, but occasionally still receive expensive bids. In fact, earlier this week one of the most expensive Meebits ever, which sold last May for 700 ETH (more than $2.5 million), fetched a bid of 98.65 ETH or just over $126,446.

Ringers #109, a piece of art that sold for 2100 ETH or 7.12 million dollars October 2, currently has a bid of $40,000.

Even the most popular artists struggle to capture bids anywhere near previous levels. Uber popular artist Beeple sold one of the most expensive NFTs on record when his work Weekdays: The first 500 days sold at a Christie’s auction for $69.3 million last March.

His second most expensive NFT, Human Oneretrieved in total 28.3 million dollars and he sold another piece via Nifty Gateway called Crossroads. This was bought for $6.6 million by someone who set one up museum of crypto art.

Beeple’s highest sale via OpenSea was for 333.33 ETH or $575,327 on March 9, 2021, and the best bid for his work right now is 0.95 ETH or $1,215.

Read more: Beeple NFT tops almost all ‘Old World Masters’ ever auctioned

XCOPY is another established artist who has sold some of the most expensive NFTs on record via SuperRare.com with an artwork called All Time High in the City going for 1,630 ETH or 6,189,469 USD on January 2, 2022. Another of his works, A coin for the ferryman, went for 1,330 Ether or $6,017,292 last November. The artwork currently has no bids.

All Time High in the City is currently listed for 33,600 ETH or $43 million but has no offers. XCOPY’s highest sale on OpenSea was for 80 ETH, worth about $289,200 on October 6, 2021, and the best offer right now is 2.41 ETH or $3,114.

The most expensive NFT made by XCOPY was Right click and Save as guybought by rapper Snoop Dogg for 1,600 ETH or 7,088,229 USD in December 2021. The piece currently has a supply of 0.0001 ETH.

Other collections literally crash to zero. Here is a list of highly priced NFTs that cannot attract a proper bid today.

Table of Contents

MechaVerse

The collection’s highest sale was 500 ETH or $1,816,000 on December 30, 2021. Today is best offer is only 0.4 Etheror $552.

ENS domains

Despite a sale of 420 ETH or $1,513,680 on October 9, 2021, the collection’s best offering right now is just 0.01 Ether, worth $12.92.

Moonbirds

This collection’s highest sale was 350 ETH or $1,037,400 in April this year. No offers have been made, but the floor price for the collection is now 10.3 ETH and the best offer is 9.27 ETH. That’s just $11,958.

The sandbox

The highest sale achieved for so-called Sand tokens was $918,862 for 3,644,834.61 tokens last July. The best offer right now is 1.8 ETH or $2,303.26.

Pudgy penguins

The collection’s highest sales brought in 400 ETH, valued at $647,600 on 22 August this year. The best offer right now is just five ETH or $6,543.

ON1 Force

YouTuber Logan Paul gave this pool its biggest sale ever when he spent 188 ETH worth $623,032 last August. The best offer right now is just one ETH or $1,294.

CryptoKitties

The largest prize achieved for a CrypoKitty was $600,000 in USDC back in September 2021. However, it no current bids and the last offer was only 0.3 ETH.

Invisible friends

The highest sale achieved with this collection was 200 ETH, worth $590,000 on March 3, 2022. The best offer right now is 3.6854 ETH, or $4,789.

Etherlambos

The highest award this collection has ever achieved was 33 ETH, valued at $102,564 August 26, 2021. The best offer right now is 0.27 Ether, or $350.

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