The most expensive EtherRock up for resale is priced at a whopping $1.9 billion.
The latest craze to resurface in the effervescent nonfungible token (NFT) scene is a collection of digital pet rocks from 2017 dubbed EtherRocks.
On August 8, a single EtherRock sold for a whopping 45 ETH — worth roughly $135,240 at the time.
EtherRock #21 purchased for Ξ45 Ether ($135,240.03)
30 mins ago (Aug-08-2021 05:17:15 PM +UTC)
Txn: https://t.co/1zx7A3jkyS#EtherRock #EtherRocks pic.twitter.com/UNAUlhDWrW
— EtherRock Price (@etherrockprice) August 8, 2021
EtherRock was one of the first crypto collectible NFTs issued on the Ethereum blockchain, following shortly after CryptoPunks’ June 2017 launch. Every EtherRock showcases a still image of a stone, with each token donning a unique color bu being identical in shape and size.
Only 100 EtherRocks will ever be minted, with the project’s smart contracts having been deployed on December 25, 2017. According to Etherscan, the first EtherRock appears to have been sold on 26 December 2017 for 0.099 ETH (worth roughly $300 at the time).
Etherscan shows that only about 20 more rocks were sold in the first three years of the game’s existence, fetching prices between 0.1 and 0.36 ETH. After slow but steady sales during the first half of 2021, the recently bubbling NFT market inspired investors to rush the remaining EtherRock supply — causing prices to surge.
With each of the 100 EtherRocks having sold off, many of the tokens have been put up for resale on popular NFT marketplaces. Secondary prices range from 31 ETH ($96,100) up to a staggering 626,262 ETH (roughly $1.9 billion).
Physical pet rocks were first launched back in 1975 as a collectible toy by advertising executive, Gary Dahl.
Related: Tales from 2050: A look into a world built on NFTs
Offering tongue-in-cheek comment on the surging popularity of the tokenized pet rocks, Ran Neuner, co-founder and CEO of Onchain Capital, Ran Neuner, tweeted that the NFTs comprise the ultimate store of value and inflation hedge on August 10:
“There are 7bn people in the world, 21m Bitcoin – But only 100 Rocks in the world. Can you imagine what happens when institutional money starts flowing into rocks? It’s a matter of time until a Rocks ETF is approved.”
CryptoPunks have been one of the biggest successes in the world of NFT collecting, with the tokens regularly fetching six-figure prices. As reported by Cointelegraph on August 4, a crafty collector recently made $80K profit in a CryptoPunk resale after purchasing the token for virtually nothing.
The post Investors are shelling out six figures for pet rock NFTs appeared first on BTC Ethereum Crypto Currency Blog.
The most costly EtherRock up for resale is priced at a whopping $1.9 billion.
The newest craze to resurface within the effervescent nonfungible token (NFT) scene is a set of digital pet rocks from 2017 dubbed EtherRocks.
On August 8, a single EtherRock bought for a whopping 45 ETH — value roughly $135,240 on the time.
EtherRock #21 bought for Ξ45 Ether ($135,240.03)
30 minutes in the past (Aug-08-2021 05:17:15 PM +UTC)
Txn: https://t.co/1zx7A3jkyS#EtherRock #EtherRocks pic.twitter.com/UNAUlhDWrW
— EtherRock Worth (@etherrockprice) August 8, 2021
EtherRock was one of many first crypto collectible NFTs issued on the Ethereum blockchain, following shortly after CryptoPunks’ June 2017 launch. Each EtherRock showcases a nonetheless picture of a stone, with every token donning a singular coloration bu being similar in form and measurement.
Solely 100 EtherRocks will ever be minted, with the venture’s sensible contracts having been deployed on December 25, 2017. In accordance with Etherscan, the primary EtherRock seems to have been bought on 26 December 2017 for 0.099 ETH (value roughly $300 on the time).
Etherscan reveals that solely about 20 extra rocks had been bought within the first three years of the sport’s existence, fetching costs between 0.1 and 0.36 ETH. After gradual however regular gross sales in the course of the first half of 2021, the not too long ago effervescent NFT market impressed buyers to hurry the remaining EtherRock provide — inflicting costs to surge.
With every of the 100 EtherRocks having bought off, lots of the tokens have been put up for resale on common NFT marketplaces. Secondary costs vary from 31 ETH ($96,100) as much as a staggering 626,262 ETH (roughly $1.9 billion).
Bodily pet rocks had been first launched again in 1975 as a collectible toy by promoting govt, Gary Dahl.
Associated: Tales from 2050: A glance right into a world constructed on NFTs
Providing tongue-in-cheek touch upon the surging recognition of the tokenized pet rocks, Ran Neuner, co-founder and CEO of Onchain Capital, Ran Neuner, tweeted that the NFTs comprise the last word retailer of worth and inflation hedge on August 10:
“There are 7bn folks on this planet, 21m Bitcoin – However solely 100 Rocks on this planet. Are you able to think about what occurs when institutional cash begins flowing into rocks? It’s a matter of time till a Rocks ETF is accredited.”
CryptoPunks have been one of many largest successes on this planet of NFT gathering, with the tokens commonly fetching six-figure costs. As reported by Cointelegraph on August 4, a artful collector not too long ago made $80K revenue in a CryptoPunk resale after buying the token for just about nothing.
The publish Buyers are shelling out six figures for pet rock NFTs appeared first on BTC Ethereum Crypto Forex Weblog.
