What’s in The Merge – The most expensive art NFT in history worth nearly 100 million USD

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2022-04-12 00:24:22

The Merge is currently leading the list of the most valuable NFTs ever.

2021 is the year marking a strong explosion of blockchain. Previously, when it came to this field, people were only familiar with names like Bitcoin, virtual currency, electronic money, … Until now, the increasingly popular appearance of these: NFT, GameFi, DeFi or later, the whole Metaverse has reached closer to the public.

Although it is still in its infancy, NFT is being assessed as one of the fastest growing areas in terms of value in the blockchain industry. Proof of this is when The Merge was auctioned for an “unbelievable” figure of 92 million USD (about 2100 billion VND).

See also: interesting knowledge about NFT

NFT The Merge by digital artist Pak

The Merge has gone down in history as the most valuable digital painting ever. It was created by an anonymous artist named Pak – a well-known person in the NFT community with iconic works. The Merge is not a single NFT owned by an individual. This NFT consists of 312,686 pieces belonging to a set of interconnected blocks. It was first opened for sale on December 6, 2021 on the Nifty Gateway online NFT auction platform. After only two days of opening for sale, 28,983 collectors became owners of a piece in the work.

At the time, the initial value of each block was around $545. In order to buy NFT pieces in this The Merge block, auction participants need to conduct a direct transaction within the time of the organization. It is estimated that every 6 hours, an NFT block increases by $25. There have been many people waiting very early to be able to buy a piece of this NFT and then resell it at a sky-high price. Many people think that the value of The Merge has been “exaggerated” too much. The reason given is that it doesn’t have an “owner”. real.

Pak said that the main purpose when he created The Merge was simply to attract more people to participate in the new generation of NFTs. He also further revealed that The Merge can merge – as the name suggests, into a single NFT. This can only happen when one person has enough financial power to capture and fully assemble 312,686 individual blocks.

The Merge is still the most expensive NFT in the market. But with the current strong growth and development momentum, the $92 million figure set by The Merge probably won’t last too long. Following it can be mentioned the collection of NFT CryptoPunk, Bored Ape Yacht Club or Mutant Ape Yacht Club with 10,000 pieces each. In which, many NFTs have been acquired for millions of dollars and tend to increase in value.

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