Artist Pak sells 266,445 NFTs for one (evolving) work The Merge for $91.8M on Nifty Gateway

  • Pak, the pseudonymous artist, may have wrested the title of the highest sale for a NFT-based artwork, although it’s unclear how to view it.
  • Mike Winkelmann, aka Beeple, holds the record for the highest NFT sale at $69M for Everydays: The First 5,000 Days, which sold this past March 2021 at a Christie’s auction.
  • Pak’s work was sold on Nifty Gateway as 266,445 NFTs obtained by 26,000 people.
  • But this was no ordinary sale. Each NFT called a “mass token” combined–or “merged” with other NFTs in digital wallets of the buyers. As Gotham describes: “If collectors bought enough NFTs from the collection, the digital files begin to interact and combine in the user’s digital wallet. This process then creates a new and totally-unique NFT from the previously existing units. The more collectors bought, the more the pieces ‘merged,’ creating completely new files that wouldn’t be found anywhere else.”
  • Plus, it sounds like The Merge will change afterwards, but it’s hard to tell how.