Not all NFTs are avatars — Here are 8 other digital projects that raised millions last week

• Non-fungible tokens (NFTs) are more than pixelated 'generative' avatars sold at exorbitant prices for their rarity.
• This last week saw Beeple’s artwork selling for $29 million and Silk Road founder Ross Ulbright’s ‘Perspective’ went for $6.2 million.
• Big wig companies, like Pepsi and Sequoia, are also dipping their toe in the poll with their own NFT projects.

Non-fungible tokens (NFTs) have been selling for millions of dollars this year. However, this past one week saw an exceptional surge in the value of digital art.

The pixelated CryptoPunk #4156 sold for $10.22 million on December 10 — making it the most expensive NFT in the last week, according to CryptoSlam. Earlier today, December 13, CryptoPunk #2964 sold for $1.5 million, while Bored Ape #9452 sold for $1.4 million.

Both of these projects are ‘generated’ collections of ‘punks’ and ‘apes’ — there are only a set number of avatars within each, and their rarity or value is determined by their characteristics. For instance, there are only 10,000 CryptoPunk avatars in circulation. While they’re all similar, there are only around 250 avatars with ‘male big shades’ while there are at least a thousand ‘male’ avatars.

However, there is more to this niche section tucked away in the world of cryptocurrency. As with traditional art, NFTs can be a truly unique work by the artist. Or push the boundaries of vision, helping us see mundane things in a new light. Yet others summon the nostalgia of days bygone, remind us of an event we attended, charitably help a person who believes they are wrongly imprisoned, or simply raise money for a cause one believes in.

With usage rising continuously, here are eight innovative uses of NFT technology seen in the last seven days: