An Individual Recently Spent $498,000 on an EtherRock NFT
EtherRock, a non-fungible token (NFT) project, has achieved another significant sale. According to on-chain data, an EtherRock NFT was recently sold for 200 ETH, equivalent to approximately $498,000.
EtherRock, also known as EthRock, was launched in December 2017 as one of the earliest NFT projects. It features a collection of limited-edition rocks, all with the same shape and size but in 100 different colors. The collection is deployed on the Ethereum blockchain, allowing for tradeability on NFT marketplaces like OpenSea.
The recent sale of EtherRock #46 for nearly half a million dollars is not entirely surprising, given the project’s history of high-cost sales. The rarity of these digital tokens contributes to their value. For instance, just hours before, EtherRock #74 was sold for 180 ETH. In June 2023, an EtherRock was sold for 130 ETH, valued at around $248,000 at the time. In August 2021, an EthRock fetched a staggering $1.3 million, equivalent to 400 ETH, marking the highest sale price for this rock-themed collectible.
These impressive sales have raised the current floor price of EtherRock to 239 ETH, worth over $593,900 at the time of writing. The success of EtherRock has also inspired NFT creators to emulate the project on the Bitcoin network. Last year, Bitcoin Rocks achieved a sale of one of its rock-themed artworks for 3 BTC, valued at over $110,000 at that time.
Contrary to sentiments suggesting the demise of NFTs, this latest sale proves that the NFT industry is far from dead. The industry’s vitality has been questioned in recent months, with some claiming that the NFT market has lost its appeal. However, the continued success of projects like EtherRock and the frequent sales of NFTs from other popular collections indicate that the industry is still thriving. In fact, certain projects like Pudgy Penguins NFTs are even experiencing value increases.
Tags: NFTs
