VeChain (VET) is a blockchain platform focused on sustainability, using eco-friendly technology to support green initiatives across industries and drive a more sustainable future.

Sustainability is now the name of the game across many industries. The blockchain industry is one of them, with several projects aiming to reduce the energy impact of their operations or support green causes in other ways. However, on closer inspection, sustainability has received much less attention in the world of blockchain technology than many people may assume. Indeed, the industry's two leading data portals, CoinGecko and CoinMarketCap, have no "Sustainability" or similar category, despite coming up with hundreds of other classifications.

Some smaller-cap projects outside of the top 100, such as 

 (IOTA), do focus on supporting environmental causes. But in the entire list of top 100 cryptocurrencies by market cap, only one project can confidently be described as having sustainability as its key pillar — 

With a market cap of $2 billion (as of the time of writing on Apr 22, 2025), VeChain stands head and shoulders above any other crypto project in the sustainability niche. The project has been fully operational since 2018, and is among the oldest environmentally focused blockchain initiatives. In short, if we talk about sustainability and blockchain, it would be disingenuous not to mention VeChain and its 

Having championed green blockchain causes since 2018, VeChain announced a significant upgrade initiative in late 2024 to be rolled out in stages during 2025. Called Renaissance, it’s envisioned to further solidify VeChain's position as the leader of eco-friendly blockchain use and introduce a host of technical improvements. In fact, 2025 is the year of the most fundamental upgrade to this notable industry player in its entire history on the market, so it's precisely the time to revisit this project in our coverage.

VeChain (VET) is a decentralized project designed to support sustainability-focused blockchain use cases across various industry verticals.

 The company was first conceptualized and founded as a blockchain project in 2015 by Chinese technology professional Sunny Lu. It launched its Layer 1 network, VeChainThor (VTHO), in mid-2018, becoming one of the first decentralized initiatives to support eco-friendly applications on-chain. The VeChainThor network features low transaction fees and high levels of scalability.

For years, the VeChain blockchain has remained probably the leading decentralized platform in the niche of sustainability. As of April 2025, it retains the leadership position, and is ranked 56th among all cryptocurrencies, with a market cap of $2 billion.

VeChain's sustainable blockchain technology

Many blockchains claiming to support environmental causes typically use the 

, which is indeed much more energy-efficient than the power-hungry 

 (BTC). By using PoS, these blockchains have boldly announced that their energy use is much lower than Bitcoin's. While this is true, these platforms are essentially general-purpose networks that don't specifically design their operations with any particular sustainability use case in mind.

Instead of these two typical consensus mechanisms, the VeChainThor blockchain uses 

 (PoA), touted to be even more energy-efficient than the standard PoS employed by 

 chains. In a typical PoA consensus, a smaller number of validators with "authority" — i.e., a history of reliable behavior on the network — are entrusted to process blocks. This is in contrast to PoS, whereby many validators take part in the staking contest to outperform each other in terms of token holdings. They then receive the right to validate the next block, and have to constantly align their consensus process with other 

As a result, PoS is usually less energy-efficient than PoA. VeChain's PoA model elegantly combines efficient processing, minimal energy use and high levels of enterprise-grade security.

The VeChainThor blockchain network's processing engine also features compatibility with the 

 (EVM), making cross-chain communication with the Ethereum world much easier for VeChain developers and 

PoA block validation isn’t the only sustainability-minded feature of VeChain. Unlike many other popular chains, VeChain also directly enables sustainability use cases, primarily by utilizing its tamperproof and transparent data-tracking mechanism. Thus, enterprises across different industries can track and reliably verify the origin of goods and their sustainability status for eco-friendly supply chain management. For instance, supermarket chains can use the platform to track and verify the carbon footprint of the produce they source; logistics companies can calculate the overall emissions generated along their supply chains; and fashion brands can track sustainable sourcing of materials used for their product lines.

Besides its own blockchain, the project also offers a blockchain-as-a-service (BaaS) platform, VeChain ToolChain, to help businesses integrate VeChain's technology into their business processes via standardized smart contract services.

To further position itself as a champion of sustainability, VeChain launched 

 represents an on-chain ecosystem of DApps that reward VeChain users for completing various eco-friendly tasks, such as using reusable coffee cups, shopping for organic products, picking litter off streets and more. VeBetterDAO is the project’s foray into the individual consumer side of environmentalism, which complements the VeChain platform’s long-standing sustainability features for the enterprise world.

In late 2024, VeChain first announced its planned multi-stage upgrade, Renaissance, to make the platform even more efficient. Its changes are envisioned to take place gradually throughout 2025, and possibly beyond. The Renaissance upgrade touches many parts of the platform, with three key areas involved — a new VeChain staking and node model, technical updates and changes to the dual token mechanism. We'll cover the first two areas below, and the changes to VeChain’s tokenomics in the next section.

VeChain’s PoA block validation model uses a group of 101 trusted Authority Masternodes (AMs) who will fully transition to Validators under the new Renaissance model by December 2025. Each Authority Masternode is approved by the VeChain Foundation. These nodes are responsible for generating transaction blocks. You’ll need to 

 at least 25 million VET to participate in block production, which occurs in fixed 14-day cycles.

Under the platform’s pre-Renaissance model, there are two more types of specialized nodes — Economic and X-Nodes — who stake their tokens to a selected AM/Validator and participate in 

 on the platform. After the Renaissance upgrade is fully rolled out, Economic nodes and X-Nodes will be replaced by a tiered system of Delegator nodes.

Delegators will need to stake a certain amount of VET tokens to mint Delegator 

, which will entitle them to different grades of staking reward multipliers. The more you stake, the higher grade of NFT you receive, and the higher your staking rewards will be. When blocks are produced, AMs/Validators will receive 30% of the total block reward, with the remaining 70% going to holders of the Delegator NFTs.

The image below shows the new Delegator NFT–tiered model, with minimum VET staking requirements and reward multipliers.

While the VeChainThor network is EVM-compatible, there are still differences between its technical parameters and the standard EVM used by Ethereum. For this reason, the Renaissance upgrade aims to reach full EVM compatibility, including implementing the JSON-RPC (

remote procedure call) extensively employed within the Ethereum blockchain.

As part of the Renaissance upgrade, the project will also introduce a new set of tools to achieve more seamless cross-chain capabilities. This will involve integrating new 

The VeChain token model has always been based on two cryptocurrencies: VET and VTHO. VET is the 

 that acts as the main means of value storage and transfer on the platform, while VTHO is used to pay for gas. Now, the Renaissance upgrade also changes the way the dual-token mechanism operates.

Before the upgrade fully kicks in, VTHO is still generated by simply holding VET. After the Renaissance, only staked VET will generate new VTHO for the holder. This should better align VTHO with the active participation of users on the platform. VTHO's inflation rate will also be cut by over 70%, as its issuance will be aligned to a new emission model that considers the total amount of VET staked on the platform.

To further reduce the inflationary properties of VTHO, 100% of all base transaction fees on the network, which are all paid with VTHO, will be 

VET is the platform’s value transfer and storage token. It’s also used for governance and access to various features and apps on the network. VET is a supply-capped token with a max supply of just over 86.7 billion. These properties will not change following the Renaissance upgrade.

VTHO, which is used to pay for gas fees on VeChainThor, is an inflationary token with an uncapped supply. It currently has a total supply of almost 88,7 billion. As noted above, after Renaissance, VTHO will be generated via staking only, and will feature a burn mechanism to reduce its inflation rate.

t as a swap pair with USDT, and on the Derivatives market as the 

In addition, you can take advantage of Bybit’s event dedicated to the VET token to grab a share of a 

. New users can earn VET rewards by accumulating a deposit volume of at least 5,000 VET, or by depositing at least 100 USDT and trading 100 USDT worth of VET via their first Spot trade using their Bybit account. Meanwhile, existing users can also qualify for rewards by trading at least 500 USDT worth of VET on the Bybit Spot market. The event runs through Apr 28, 2025, 9AM UTC.

As of Apr 23, 2025, the VET token is trading at $0.02576, which is 90.8% lower than its ATH of $0.281 on Apr 19, 2021, and 1,243.2% higher than its ATL of $0.001917 on Mar 13, 2020.

Long-term price forecasts for VET are mostly bullish. DigitalCoinPrice 

 of $0.088 in 2027 and $0.14 in 2030, while PricePrediction 

In the long term, VET might even rise to $1, at least according to PricePrediction’s forecast. Its portal is highly optimistic, estimating that VET will hit the $1 mark in 2034.

You might consider investing in the VeChain token VET based on the following:

When Sunny Lu created VeChain in 2015, his vision focused on sustainability issues. VeChain's work in this area has led to the creation of the first decentralized network truly dedicated to making a tangible environmental impact. The entire VeChain ecosystem — including the VeChainThor blockchain platform, VeBetterDAO and VeChain Toolchain — continues to serve as a significant enabler of sustainable technology in the business world.

Now, with the Renaissance upgrade being rolled out for the duration of 2025, VeChain aims to solidify its leadership in this sphere. With the Renaissance upon us, it's hard to see any blockchain platform that could challenge VeChain in the area of sustainability anytime soon.

Intermediate

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What is VeChain (VET): Building a sustainable future for all

StablR USD (USDR) is a MiCA-compliant stablecoin, fully backed 1:1 with USD, offering secure, transparent digital payments in the European economy.

 continues to gain ground in the crypto world, most countries are leaning toward having a framework to govern and regulate these digital assets. One such framework is the Markets in Crypto-Assets Regulation (MiCAR, or MiCA for short), the European Union’s gateway for regulating digital assets that aims to provide legal clarity, consumer protection and financial stability.

 — particularly those pegged to fiat currencies — must meet strict standards for transparency, reserve backing and operational governance to be approved for circulation in the EU.

StablR USD is a fully MiCA-compliant, eurozone-issued stablecoin pegged 1:1 to the United States dollar. Built with regulatory alignment at its core, StablR offers a transparent, secure and compliant digital dollar solution tailored for the European market, making it a key player in the future of regulated digital finance.

Let’s learn more about this electronic money token and stablecoin.

 is a company that offers MiCA-compliant electronic money tokens (EMTs) pegged to the dollar at a ratio of 1:1 to each of its fiat equivalents. 

 to provide transparent, secure and regulatory-compliant EMTs that fuel the global economy.

The Malta-based Dutch company currently offers two MiCA-compliant stablecoins: EURR and USDR. EURR is a fiat-backed stablecoin, pegged to the euro 1:1, that runs on the Ethereum blockchain. Meanwhile, USDR is its US dollar–backed stablecoin counterpart that can be redeemed for its fiat equivalent at any time.

StablR is keen on transparency, providing a 

 (PoR) page that shows the current supply and reserves available for its stablecoins. The company leverages a trusted banking custodian to ensure the reserves match or exceed the issued stablecoins.

StablR USD (USDR) is a eurozone-issued, MiCA-compliant 

 fully backed 1:1 with US dollar reserves held in EU-regulated financial institutions. Designed for stability, transparency and regulatory alignment, it offers a secure and compliant gateway to digital finance within the European Union (EU).

Importantly, StablR USD (USDR) isn’t the same as Real USD (USDR), a separate token that recently experienced a significant depeg. StablR USD maintains full transparency and stability, offering real-time reserve attestations, strict compliance with MiCA regulations and the right of redemption for authorized users. This ensures that each USDR can always be redeemed for $1. 

With its strong regulatory foundation and commitment to transparency, StablR USD is positioned as a trusted stablecoin for the future of tokenized finance in Europe.

An electronic money token (EMT) is a type of crypto asset defined under MiCA. EMTs are digital representations of fiat currency — just as the euro or StablR USD (USDR) is a eurozone-issued, MiCA-compliant stablecoin fully backed 1:1 with US dollar reserves held in EU-regulated financial institutions. Essentially, EMTs are a form of stablecoins, and are digital versions of traditional e-money, combining the speed and efficiency of blockchain with the reliability of government-issued currencies.

To be classified as an EMT under MiCA, a stablecoin must meet strict regulatory requirements, including full reserve backing, daily redemption rights and transparency around reserve holdings. Issuers must also be authorized by an EU financial authority, and comply with ongoing audits and consumer protection measures.

EMTs are designed to enable everyday payments, digital commerce and cross-border transactions, offering a compliant and stable alternative to more volatile crypto assets.

You can buy USDR on Bybit’s Spot trading platform (Netherlands only), where it's available as part of two pairs, USDR/USDT and BTC/USDR.

To celebrate the listing, Bybit is holding three special events 

 that will run through May 11, 2025, 9AM UTC. You need to register for the events to get started.

As MiCA regulations take hold, StablR USD (USDR) is leading the way in trustworthy, tokenized value powered by blockchain technology. Its diverse range of use cases, from payments to DeFi, position it as a cornerstone for compliant digital finance. A reliable, MiCA-compliant stablecoin that’s purpose-built for the European digital economy with full 1:1 USD backing held in regulated EU financial institutions and the right of redemption, StablR delivers trust and security in the rapidly evolving stablecoin market.

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StablR USD (USDR): A trusted digital dollar for a borderless economy

In this article, we cover key economic releases amidst Trump's tariff hikes and resulting recession fears. We also look at what investors are watching leading up to the May 6 FOMC meeting, and how it might affect global markets and Bitcoin.

It's a tricky time for global financial markets, with worries swirling around US trade policy and its potential economic effects. Big tariff hikes in the ongoing US-China trade war have made the future feel uncertain, shaking things up for traders and investors.

As everyone tries to make sense of it all, key economic reports are giving us clues. Meanwhile, all eyes are on the upcoming Federal Open Market Committee (FOMC) meeting on May 6-7, 2025, for hints about where interest rates might be headed. Let's break down the latest data and look ahead to what the Fed might say.

Economic numbers released so far in April have significantly influenced market sentiment amid trade tensions and policy questions. These reports offer a snapshot of the US economy's health just before the newest tariffs start making their mark.

The US job market is still holding up, though some details suggest caution. Initial jobless claims for the week ending April 12 

. That's the lowest since February, and better than the 225,000 applications economists predicted, suggesting companies didn't immediately cut jobs after US president Donald Trump's 

However, continuing claims — the number of people receiving unemployment benefits after the first week — edged up slightly to 1.89 million for the week ending April 5. While new claims are low, higher continuing claims compared to a year ago suggest it might be getting tougher for laid-off workers to find new jobs. A strong job market could mean the Fed feels less pressure to cut interest rates, potentially helping the US dollar but weighing on riskier assets like stocks and crypto.

Good news arrived with the Consumer Price Index (CPI) report 

, showing inflation cooled more than expected in March. Headline CPI dipped 0.1% from the previous month, pulling the yearly rate down to 2.4% (from 2.8% in February), below the 2.6% Wall Street forecast.

More importantly for the Fed, core CPI (excluding food and energy) only nudged up 0.1% monthly. This brought the annual core rate down to 2.8%, its lowest since March 2021 and better than the 3% forecast. Lower energy costs — especially gas (−6.3% MoM) — played a big part. While softer inflation usually supports rate cuts, the looming impact of tariffs complicates things, as these duties are expected to push prices higher.

Following the encouraging CPI numbers, the Producer Price Index (PPI) on April 11 also pointed to easing costs for producers. Headline PPI 

 in March against forecasts of a 0.2% rise, slowing the annual rate sharply to 2.7% from 3.2%. Core PPI also fell 0.1% month-over-month, bringing its yearly rate to 3.3%.

Falling energy prices were again a major factor. But the report wasn't all positive — it showed early signs of tariffs hitting, with wholesale iron and steel mill prices jumping 7.1% in March, the biggest monthly leap since April 2021. If these input costs keep rising due to tariffs, it could squeeze company profits and push bond yields higher.

Markets have been volatile, reacting to economic data and trade policy shifts. US stocks saw big swings, with the S&P 500 reacting to both tariff fears and inflation news. When Trump 

 (excluding China) on April 9, it sparked a major relief rally. The S&P 500 had its 

, gaining 9.5% following the news, but overall uncertainty still lingers.

Bitcoin's price certainly reflected this turbulence. Following the April 1 JOLTS report

 from $82,563 to hit a recent high of $86,891 on April 2. However, the gains didn't last, as the price subsequently fell to $74,830 by April 7 amid intensifying US-China trade war tension. 

A recovery brought BTC back to $83,020 by April 10, but it dipped again before getting a boost from the better-than-expected core PPI report on April 11. This pushed the price up from $79,664 on April 11 to $84,074 by April 17. As of April 22, 2025, Bitcoin is trading at around $88,000.

As the US dollar weakened and recession worries grew, gold prices 

, hitting record highs as investors sought safety in the precious metal.

Fed FOMC on May 6–7: What are investors watching?

The upcoming FOMC meeting on May 6–7 is a key focus for traders seeking clarity on interest rates. Markets widely expect the Fed to keep the federal funds rate steady at 4.25%–4.50%. Although March's inflation cooled somewhat, it's still above the Fed's 2% target. Officials have signaled patience, especially with the job market looking stable — something Fed Chair Jerome Powell recently described as being in 

Most investors will watch the FOMC's statement and Powell's press conference for changes in tone, especially regarding tariffs. Fed officials like New York Fed President John Williams have acknowledged tariffs will likely boost inflation and slow growth.

 GDP growth could fall below 1% and inflation could rise to between 3.5% and 4% this year, due to tariffs and less immigration, stating it's "simply too early to know the answers" because of the uncertainty. Powell himself also noted signs the economy might have slowed in the first quarter.

While a May rate cut looks highly unlikely — the 

 shows slim odds — investors will listen for hints about when future cuts might occur. Market analysis suggests a cut at the June 18 meeting is more likely than not. Further out, markets might be pricing in about 

, but predictions vary (from one cut to five). Any sign that cuts could be delayed beyond June, or that the Fed is more worried about inflation, could negatively impact risk assets such as crypto.

Current market sentiment has sunk to extreme fear territory for the past month. Tariffs and recession fears drove a sharp sell-off in global markets and crypto, while economic data is sending mixed signals — a strong job market alongside cooling March inflation right before new tariffs hit.

The upcoming FOMC meeting is pivotal. A rate hold is expected, but the Fed's view on tariff impacts and future rate cuts will be critical. Crypto and equity traders should pay close attention to Fed communications and economic data in order to navigate the uncertainty and adjust their strategies.

If you're looking to diversify or manage risk across different assets, 

 makes it easy to trade gold, forex and other traditional finance markets alongside crypto via our

. You can trade over 100 pairs with features like tight spreads, tailored fees, top-tier liquidity and up to 500x leverage. 

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Macro this week: Tariffs, recession fear and the Fed’s next move ahead of May 6 FOMC meeting

BTC's price moves in response to the Fed's announcements, as its decisions on interest rates, inflation and liquidity impact investor sentiment and risk appetite.

 might be decentralized, but its price movements are influenced by global events, including US monetary policy. Every time the US Federal Reserve makes a statement or shifts its tone, Bitcoin traders react swiftly. Why does a traditional institution such as the Fed have such a strong grip on the crypto market? This article examines how and why BTC’s price responds to Fed announcements, from interest rate decisions to inflation outlooks.

​The Federal Reserve (the Fed) is the independent central bank of the United States, tasked with managing monetary policy to promote maximum employment and stable prices and to moderate long-term interest rates. Its decisions ripple through every financial market, including cryptocurrencies such as Bitcoin.

The Fed’s primary functions include the following:

The Federal Open Market Committee (FOMC) is the Fed’s policy‑making body, 

 of the Board of Governors, the president of the New York Fed and four rotating presidents of regional Federal Reserve Banks. They meet eight times a year to review economic conditions and set policy.

Decisions made during these meetings — especially regarding interest rates — are highly anticipated by financial markets. Traders analyze not only rate decisions but also the tone of the Fed’s statements. A "hawkish" tone signals higher rates to fight inflation, while a "dovish" tone suggests looser policy that aims to stimulate growth.

As the issuer of the world's primary reserve currency, the Fed's policy decisions have global ramifications, influencing borrowing costs and impacting assets such as bonds, equities, commodities and even cryptocurrencies like Bitcoin. This global impact explains why traders and investors closely analyze these statements and adjust their strategies accordingly. 

Key Fed events that have triggered BTC volatility

From interest rate decisions to inflation commentary and economic outlooks, key communications from the Fed often lead to sharp swings in BTC’s price.

Why does BTC’s price move every time the Fed speaks?

BTC’s volatility in response to Fed speeches boils down to macroeconomic influence. Fed announcements shape expectations for inflation, interest rates and liquidity, which are key factors for crypto markets. Following are some real-world reactions.

September 2024 — Fed cuts rates by 50 bps

 its benchmark interest rate by half a percentage point. This move was more aggressive than the 25 bps cut many investors had anticipated.

Following the announcement, Bitcoin's price surged toward $61,000. The larger-than-expected rate cut signaled increased liquidity and a more accommodative monetary policy, boosting investor confidence in risk assets such as cryptocurrencies. 

 at 4.25%–4.50% while tapering quantitative tightening, announcing a reduction in Treasury rolloffs from $25 billion to $5 billion per month. Despite downgrading growth forecasts, the Fed maintained three rate cuts in its 2025 projections, and avoided hawkish rhetoric on inflation overshoot. 

Bitcoin responded by skyrocketing 20% to $86,000 with traders interpreting these signals as sustained monetary support. This surge demonstrated how a dovish hold — coupled with clear guidance on balance sheet policy — can unleash rapid risk‑asset appreciation.

On Apr 16, 2025, Fed Chair Jerome Powell 

 that Trump’s new tariffs could drive inflation higher while choking off growth, mirroring 1970s‑style stagflation. He said the Fed would “wait and see” before shifting interest rates. Bitcoin briefly jumped toward $86,000 as traders eyed it as an inflation hedge, but then tumbled about 2.5% to roughly $83,700 within minutes, mirroring a broader stock sell‑off. By the next day, BTC had climbed back near $85,000 as markets digested the news.

Powell’s comments added uncertainty to the Fed’s policy outlook. While some view Bitcoin as a hedge against inflation and a way to escape traditional financial risks, it still tends to move with risk assets like stocks, often falling on poor economic news.

What traders and investors are really reacting to

When the Fed speaks, crypto traders read between the lines. Every speech, press release or policy statement is scrutinized for forward guidance.

Trading Bitcoin around major news — especially when it comes to the Fed — requires a disciplined approach.

The bigger picture: Is BTC becoming more macro sensitive?

Yes. Bitcoin's price is becoming more influenced by broader economic trends, such as monetary policies and financial market dynamics. In its early years, Bitcoin's value was driven mainly by internal factors like technological advancements and crypto-specific sentiment. However, with growing institutional adoption, Bitcoin has become more tied to traditional financial markets.

For instance, in March–April 2024, BTC 

, echoing similar rallies in stocks and bonds. This move demonstrated how Bitcoin’s price is now closely tied to macro liquidity and institutional trading flows, behaving more and more like a high-risk asset.

Predicting BTC price via the Bybit FOMC Brawl

Think you’ve got a read on how Bitcoin will react to the next Fed move? Put your prediction to the test with Bybit’s FOMC Brawl — a price prediction event that makes macro-driven trading fun, easy and potentially rewarding, with a total 20,000 USDT prize pool up for grabs through May 7, 2025, 10AM UTC.

 events. The first one splits users into two groups:

) expiring by May 9, 2025, and you’ll automatically be placed in the corresponding camp. The team with the highest trading volume wins, with the 18,000 USDT prize pool to be split proportionally among participants.

There’s also a second event with a prize pool of 2,000 USDT, exclusively for new users who sign up for the event and buy BTC Call or Put Options with an expiration on or before May 9, 2025 and achieve an effective USDT Options trading volume > 0. 

Bitcoin’s price reacts to Federal Reserve announcements because the Fed’s policies on interest rates, inflation and liquidity directly impact investor risk appetite and market dynamics. Rate hikes or cuts alter the appeal of risk assets such as BTC, while inflation fears or economic uncertainty drive demand for alternatives. Traders monitor Fed signals to anticipate liquidity changes and adjust strategies, cementing BTC’s role as a macro-influenced asset. As institutional adoption grows, Bitcoin increasingly mirrors traditional markets’ sensitivity to macroeconomic shifts.

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Explainer: Why does BTC’s price move every time the Fed speaks?

From Pak's "The Merge" to Beeple's "Crossroads", find out all about the most expensive NFTs in the world and why they are so expensive.

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Non-fungible tokens, or NFTs, have been making headlines lately as their prices have soared to astronomical heights. They've changed the way people view art — and investors have noticed. In 2021, the NFT market generated 

. While the hype has died down a bit in the last few months, the market is still going strong.

So, what exactly are NFTs? Simply put, they’re unique digital assets that cannot be replaced. That's because each NFT is stored on a blockchain, a decentralized ledger that records all transactions. This makes NFTs immutable, meaning they cannot be altered or duplicated.

Will the NFT market continue to grow? Only time will tell. For today, we’ll look at the 17 most expensive 

Before we move on to the list, we should answer one frequently asked question: Why are NFTs so valuable?

First and foremost, they're unique. For instance, the first-ever tweet was minted and sold for a 

 — although it didn't even crack our list. The person who bought it, businessman Sina Estavi, said, "

" For Estavi, it's a piece of history and it's worth every penny.

Another reason ‌NFTs are valuable is that they're scarce. For example, CryptoKitties only has a limited supply of digital cats, so when someone buys one of these kitties, the floor price rises because there are fewer kitties available for purchase.

Of course, it's also a matter of status. If the NFT you're buying is rare or made by a popular artist, you're going to have to pay a premium. After all, not everyone can say they own a Beeple NFT.

Additionally, keep in mind that not all NFT art is expensive. An average NFT 

. We only get to hear about NFTs whenever there's been a major sale because, well, it's newsworthy.

It's the same with physical art. You only hear when someone has paid multiple millions for an art piece, and never hear about the sales that were made for a few hundred bucks.

The NFT space is still in its infancy. It will continue to grow and go through changes. That means record sales will be broken, and new artists will emerge. So this list is subject to change!

But for now, these are the 17 most expensive NFTs ever sold.

1. Larva Labs: "CryptoPunk #9998" (Sold for $529.77 Million)

Technically, this Punk is the most expensive piece of NFT art ever sold. However, some people don't consider the sale valid. 

In October 2021, the owner of #9998 bought the Punk from himself using a 

. He then used the same transaction to repay the loan. This incredible transaction is akin to a 

 in a conventional securities market. While technically valid, the Larva Labs website announced that they had rejected the bid.

2. Pak: "The Merge" (Sold for $91.8 Million) (The Actual Top-Selling NFT)

For many years, Pak has been one of the biggest names in the industry, selling thousands of NFTs on platforms like SuperRare, Sotheby's and Nifty Gateway. So it’s not surprising that 

 broke the record for the largest-ever NFT sale by a living artist. It was sold for $91.8 million on Nifty Gateway in December 2021.

The Merge collection showcases the use of blockchain technology to create digital art. Powered by Gemini, its unique 

mechanism rewards collectors who bought multiple units of “mass” during the sale period of two days, an NFT that grows bigger when more “mass” is consolidated. 

More than 28,000 collectors gathered to purchase over 312,000 units of "mass" that were later merged to create the final NFT.

3. Beeple: "Everydays: the First 5000 Days" (Sold for $69.44 Million)

You surely knew that this one was coming. The dynamic NFT by Beeple is the third most expensive NFT ever sold. It comprises 5,000 different images.

Beeple started working on the piece in May 2007. He posted single pieces continuously for the next 13 years. The art was bought by a crypto entrepreneur and investor, MetaKovan, for over $69 million at Christie's.

Following the sale, Beeple became a huge celebrity, gaining 1.8 million Instagram followers and collaborating with brands like Louis Vuitton and Nike.

4. Pak x Assange: "Clock" (Sold for $52.7 Million)

"Clock" is an NFT that came from the “Censored” NFT collection, a collaboration between the anonymous artist Pak and Julian Assange, the incarcerated creator of WikiLeaks. The NFT counts down the number of days Assange has spent in prison.

In February 2022, it was bought for nearly $53 million by 10,000 members in the 

. The AssangeDAO was established in December 2021 to free Julian Assange, who faces extradition to the U.S. and a possible life sentence. 

5. Beeple: "HUMAN ONE" (Sold for $28.9 Million)

 is one-of-a-kind. A physical/digital hybrid, it was the first NFT sold by a major auction house, Christie’s, during Christie’s 21st Century Evening Sale in November 2021. 

17 Most Expensive NFTs Ever Sold

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