An image of a rock, current 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 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, they usually have been altering palms 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 worth of every rock will solely turn out to be dearer. As issues stand, no “virgin” rocks will probably be minted because the final 100 NFTs have been all issued. collectors can as an alternative select to purchase “non-virgin” rocks. All EtherRock NFTs are trustlessly managed through an audited sensible contract and are deployed completely on the Ethereum blockchain.
NFT With out Any Utility
It isn’t instantly clear who the customer 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, 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 out there have been acquired from the lower than 30 out there for buying, per EtherRock listing.
There are solely two house owners 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 out there on the market. Even the most cost effective EtherRock out there 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.