On the 29th of April, an unknown buyer has picked up a unique pet rock. The rock is a NFT on the Ethereum blockchain, and the NFT is one of the many NFTs being sold on the Ethereum auction platform called “Ethbits”. The rock is being sold at the slightly high price of $116K, which is more than double the current market value of Ethereum.
A new craze has caught on in the Ethereum community: ‘Ethereum Pet Rock’ NFTs. These virtual items, produced by an in-game item maker by the name of Ethonaut, are in high demand. The rarest and most expensive one is selling for more than $100,000!
The Ethereum community are up in arms again because someone has decided to sell an Ethereum pet rock for more than $100,000.. Read more about what are nft tokens and let us know what you think.
On the Ethereum blockchain, EtherRock is a sequence of 100 NFT rock images. They are all inspired by the renowned Pet Rock toy craze that exploded at the end of 1975, with the exception of color variations. They aren’t new, and they aren’t meant to poke fun at this year’s NFT craze. Despite the fact that it was just published for the first time towards the end of 2017, it was a huge success.
However, they were not well-liked at the time. And the vast majority of NFTs have remained unclaimed for years. The abandoned early NFT project was discovered and steamed last week when Ethereum users minted the remaining stones. Even Gary Vaynerchuk, a social media influencer and NFT entrepreneur, tweeted about the benefits of an early NFT initiative in terms of added value.
Secondary market values are suddenly skyrocketing. EtherRock #21, which sold for 45 ETH (or $135.240) on Sunday, was one of two Ether Rocks that sold Ethereum worth over $100,000 over the weekend. In addition to the $100,000 threshold’s confirmed sales. The cheapest EtherRocks on the market are now just a fraction of that price.
The Growth of NFT Over Time
An NFT is used to prove ownership of a digital item. It doesn’t matter whether it’s a video clip, a piece of digital art, or a rock drawing. Despite the fact that certain NFTs offer additional functional capabilities such as interactive video game elements, they lack EtherRocks.
The official website states, “These virtual rocks serve NO PURPOSE other than being able to be [purchased] and sold, and giving you a great feeling of pride in being an owner of 1 of the only 100 rocks in the game.”
CryptoPunks was one of the biggest beneficiaries of the NFT surge this year. The collection’s pixelated avatars have considerably grown. According to the Larva Labs official tracker, CryptoPunks’ market floor first hit Ethereum at $100,000 last week and is currently over $131,000 this week.
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