Picture Of A Rock Just Sold For $235,000 On Ethereum

An image of a rock, present as an NFT on Ethereum, has been offered for 139 ETH, Etherscan data on February 16 reveals.

EtherRock NFT Bought For $235,000

On the time of shopping for, the 139 ETH used to buy the NFT translated to round $235,000. For this transaction, the client paid 0.003672481899086462 ETH, or roughly $6, on the time. 

Described as “EtherRock,” the NFT is among the many earliest in Ethereum and throughout the NFT ecosystem. Solely 100 of those NFTs had been minted, and so they have been altering palms since then.

Most significantly, the creator says they had been created across the identical time the CryptoPunks had been minted on Ethereum. There are 10,000 CryptoPunks in circulation. Through the years, CryptoPunks have remained a number of the costliest and coveted NFTs in Ethereum and throughout the ecosystem.

The issuer of EtherRock claims that with each new virgin rock being minted, the worth of every rock will solely develop into costlier. As issues stand, no “virgin” rocks shall be minted because the final 100 NFTs had been all issued. collectors can as an alternative select to purchase “non-virgin” rocks. All EtherRock NFTs are trustlessly managed by way of an audited good contract and are deployed solely on the Ethereum blockchain. 

NFT With out Any Utility

It isn’t instantly clear who the client of the NFT is. What’s evident is that EtherRock NFTs don’t have a selected use case. They’re created to exist as “pets on the blockchain.” What holders can do, nevertheless, is to commerce the token. The unique proprietor will revenue if a purchaser is prepared to amass the NFT at the next value.

Presently, there are a number of EtherRock NFTs that may be bought. Even so, it can’t be instantly decided which NFTs accessible had been acquired from the lower than 30 accessible for buying, per EtherRock checklist. 

There are solely two homeowners of EtherRock on OpenSea. These NFTs have a 0.4 ETH in buying and selling volumes and a flooring value of 0.1 ETH. 

In the meantime, on the official EtherRock web site, the proprietor of the primary EtherRock is promoting the NFT for 10,000 ETH. Many of those NFTs are additionally not accessible on the market. Even the most affordable EtherRock accessible is listed for 235 ETH.

The acquisition of the EtherRock comes at a time when the broader DeFi, crypto, and NFT markets are recovering after final yr’s winter noticed buying and selling volumes drop by over 90%.

Function picture from nftplazas.com, Chart from TradingView.