NFT: Spent 400 ETH or $1.3 million on clipart of a rock

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The clipart of a rock from the EtherRock NFT collection has been sold for the “modest” sum of 400 ETH (the equivalent of $1.3 million).

It was announced by one of the most historic brands in the history of NFTs, which also published the transaction on etherscan.

“EtherRock 42 acquired for 400 Ether ($1,326,280.00). 7 minutes ago (08/23/2021 08:31:58 PM +UTC) – Txn: https://etherscan.io/tx/0xd75711c696b5613179dbd4e8972bf2e2fa689e06ac794e1aa73354b3495df739”. 

EtherRock: NFT  of rocks

EtherRock’s collection is 100 NFTs representing a JPEG depicting rocks built and sold on Ethereum’s blockchain. And it may be because of the limited number, but the 2017 brand today saw one of its unique pieces worth over $1 million.

They call it NFT mania, and EtherRock is definitely part of it with its initial distribution of its 100 NFTs dating back to Christmas 2017, with an initial sale worth 0.099 ETH.

Today, the entire collection of the EtherRock 100 is sold out, with only 33 available for resale on the official website. It is estimated that about 20% of the clipart rocks in the collectible token format are in wallets that are no longer used.

The current 400 ETH, and thus $1.3 million spent on the purchase, marks a new record for EtherRock NFT. At the beginning of this August, the record seen was instead “only” $250,000.

NFT mania and its resounding sales

The exploding NFT market is seeing staggering figures. Besides today’s one, marked by EtherRock, there are, in fact, many other unique tokenized pieces that have touched not indifferent figures.

Indeed, there is to distinguish the typology of such NFTs. For example, EtherRock itself defines its rocks as follows:

“These virtual rocks serve NO PURPOSE beyond being able to be brought and sold, and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game.”

However, a different situation is the $69 million spent on Beeple’s infamous NFT ART piece, “EVERYDAYS: THE FIRST 5000 DAYS, 2021” or Jack Dorsey’s first tweet issued in the NFT format, which later sold for $2.5 million.

In these cases, as much as the works remain digital, their meaning could be attributed precisely to the authors, thus becoming valuable unique pieces.

But what happened with EtherRock, is part of a different category of NFT, one that might include brand “historicity.” And so, CryptoPunks (born in 2017) can’t help but be named with its NFTs representing humans, zombies, monkeys, and aliens in a multiplicity of versions.

In fact, earlier this month, CryptoPunks put its CryptoPunk 3100 up for sale at $90 million and CryptoPunk 7804 at $357 million. These figures are possible after both were sold on March 11, 2021, for 4,200 ETH ($7.58 million).

NFT market: a new attraction even for giant innovators

The continued growth of the NFT market is also welcoming new giants from different sectors that call themselves true innovators.

Such is the case with Visa, which this month jumped right into buying a CryptoPunk. Specifically, Visa is now the owner of the NFT CryptoPunk 7610, purchased at 49.50 ETH (about $150,000).

Not only that, even in fashion, the famous brand of Dolce&Gabbana has landed in the world of NFTs. In a few days, exactly on August 28, 2021, during the Alta Moda fashion show in Venice, D&G’s first NFT “Collezione Genesi” auction will start on the luxury marketplace UNDX.

 

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