- EtherRock #33 sells for 33 ether or $100K (approx.).
- The stones are collectible NFTs from one of the earliest NFT projects on Ethereum.
- So far, NFTs are notorious for ridiculously high prices, with the most expensive being worth $69 million.
The latest artwork to make it to the list of ‘Non-Fungible Tokens sold for outrageously high prices’ is the picture of a rock.
EtherRock #33, the JPEG of a grey-colored rock, has sold today for the amount of approximately 33 ether, the equivalent of $100,000. Notably, the rocks are one of the first crypto collectible NFT-type projects on the Ethereum blockchain. They launched shortly after CryptoPunks in 2017.
The NFTs have a total supply of 100, and each of them is already sold.
The news was shared by the host of the popular ‘What Bitcoin Did’ podcast which has an impressive 5 million downloads to boast about. Peter McCormack tweeted:
Or 2.3 BTC…for a JPEG of a rock. https://t.co/X2y4POZ0Uc
— Peter McCormack (@PeterMcCormack) August 8, 2021
Owning up to their self-proclaimed title of ‘collectibles’, the scarcity of the rocks has pushed their prices very high. In fact, many NFTs have adopted a similar strategy to reach high prices. Others are coveted for their uniqueness or complexity.
For example, take Paris Hilton and Blake Kathyn, who worked together to launch the ‘Iconic Crypto Queen’ NFT. Paired with the tag line “(Virtual) blondes have more fun, right?”, the NFT’s value is $1.111211 million. Another is Quantum, by Kevin McCoy. He minted the first-ever NFT, Quantum, which is worth a whopping $1.58 million.
Finally, let’s recall the most expensive NFT to be sold ever: Beeple’s ‘Everydays—The First 5000 Days’. Christie’s auctioned the NFT, which sold for the mammoth price of $69 million, back in March.
In general, NFTs are notorious for ridiculously high prices, a fact that’s encouraged many to jump on the NFT train.