EtherRock: An NFT Sells for 400 Ether… That’s About AU$ 1.7 Million
It’s a picture of a rock
EtherRock is a brand of crypto collectible which has been around since 2017. It is one of the oldest NFTs on the block. It made an interesting sale recently. It sold the clip art of a rock for 400 ether that comes around AU$ 1.7 million.
Just spent half million dollars on a rock 😂 pic.twitter.com/4zDmDgzERz
— Justin Sun 🅣🌞 (@justinsuntron) August 22, 2021
EtherRock
As the name indicates, EtherRock is a JPEG of a cartoon rock that was built and sold on the ethereum blockchain. The main reason for the high price of EtherRock NFT is the fact that about 100 are present, and hence, they are scarce.
Explaining the high prices, the EtherRock website states, “These virtual rocks serve NO PURPOSE beyond being able to be brought and sold, and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game :).”
This sale has been beneficial for the EtherRock NFT. The floor price is now at AU$ 1.65 million. Interestingly, the cheapest rock available two weeks back was AU$ 420,000, and two weeks before that, it was AU$ 135,000.
Current #EtherRock Price Floor: Ξ305 Ether ($1,018,898.25)
Rock ID 62 Ξ305 Eth
Rock ID 57 Ξ325 Eth
Rock ID 89 Ξ333 Eth
Rock ID 38 Ξ345 Eth
Rock ID 48 Ξ666 Eth
Rock ID 66 Ξ666 Eth
Rock ID 77 Ξ777 EthRecent Sales
Ξ400 Eth 25 mins ago
Ξ250 Eth 16 hrs agoATH
Ξ400 Eth 25 mins ago pic.twitter.com/CwXAxtJHW8— EtherRock Price (@etherrockprice) August 23, 2021
The increase in sales prices is happening alongside the recent increase in NFTs that are blockchain-based tokens which signify the ownership of a digital asset. For instance, people are buying digital images of apes and replacing their Twitter images to signify that they are members of the Bored Ape Yacht Club.
The overall NFT market has seen an amazing comeback. There was a dip in demand a few months back, but the comeback began somewhere at the beginning of June. For instance, data says that the NFT marketplace OpenSea was up 286% from July.
Even bigger brands have joined in the NFT craze. The Visa Cryptopunk NFT purchase is something you might have heard of recently. You should also know that the EtherRock project was inspired by the Pet Rock trend that happened way back in the 1970s. Andrew Kang, an NFT collector, recently tried to explain why it happened. He said that “the ownership of something so utterly useless is a quintessential example of a flex.”
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