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

NFT

An image of a rock, current as an NFT on Ethereum, has been bought for 139 ETH, Etherscan information 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 customer 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 have been minted, and so they have been altering arms since then.

Most significantly, the creator says they have been created across the similar time the CryptoPunks have been minted on Ethereum. There are 10,000 CryptoPunks in circulation. Through the years, CryptoPunks have remained a few 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 value of every rock will solely grow to be dearer. As issues stand, no “virgin” rocks shall be minted because the final 100 NFTs have been all issued. collectors can as a substitute select to purchase “non-virgin” rocks. All EtherRock NFTs are trustlessly managed through an audited good contract and are deployed completely on the Ethereum blockchain.

NFT With out Any Utility

It’s not instantly clear who the customer of the NFT is. What’s evident is that EtherRock NFTs don’t have a particular use case. They’re created to exist as “pets on the blockchain.” What holders can do, nonetheless, is to commerce the token. The unique proprietor will revenue if a purchaser is prepared to accumulate 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 obtainable have been acquired from the lower than 30 obtainable 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 ground 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 obtainable on the market. Even the most affordable EtherRock obtainable 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 12 months’s winter noticed buying and selling volumes drop by over 90%.

Function picture from nftplazas.com, Chart from TradingView.