With the NFT boom this year in cryptomarket, EtherRock is one of the latest projects to benefit from this boom. On August 8, a single EtherRock sold for a whopping 45 ETH – worth roughly $ 135,240 at the time.
EtherRock is a series of 100 NFT images of rocks issued on an Ethereum blockchain. Every EtherRock showcases a still image of a stone, with each token unique color being identical in shape and size. They were first launched in late 2017.
A digital painting of Grey-coloured rock, part of a pet-project from 2017, has sold for an outrageously high price. These rocks are one of the first-ever NFT collectible projects on the Ethereum Blockchain. Ethereum users minted these rocks as they came into light. Investors, social media influencer, and NFT entrepreneur Gary Vaynerchuk tweeted about this.
The Ether Rock website says, “These Virtual rocks serve NO PURPOSE beyond being able to be bought and sold and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game.”
The rocks were created via smart contract and deployed on the Ethereum blockchain on December 25, 2017. The contract allows for the minting of 100 total rocks, making rocks one of the earliest. The first Ether Rock was sold the same month for ETH 0.0999 ($289 or), according to Etherscan. In the first three years of the project’s existence, only 20 more rocks were sold. About 10 more were purchased during this year.
“As we get into an age of digital collectibles, being one of the earliest forms of the art and the first [to] do something gives them provenance that is valuable. There is also a nostalgia aspect, collectors will seek early pieces with historical significance.” wrote Degen Harambe.
CryptoPunks has been one of the biggest beneficiaries of this year’s NFT boom. Its collection of pixelated avatars have dramatically risen in value. Recently, one of the rare CryptoPunk NFT listed for $90.5 million, which was previously sold for $7.6 million.
