WTF are Ether Rocks? Everything you need to know
What are Ether Rocks? Ether Rocks or ETHRocks was one of the first NFT collectibles to be released on the Ethereum blockchain network, in the crypto space. It was launched in December, 2017. Ether Rocks are an early-form NFT that tokenize art, mostly clip art of pet rocks. The digital collectible is only a bit younger than CryptoPunks, which is widely considered as the first NFT to ever exist.
They are known to be extremely valuable as virtual assets but they do not serve any specific purpose, beyond the fact that they are regular NFTs that can be bought and sold on a NFT marketplace, they provide a strong sense of pride and ownership as there are only 100 rocks available in the game, around the globe.
Ether Rock: History & Popularity
The NFT comprises of still images of a “rock”, that are designed identically with the same shape, but are colored with varying tones. The creation of the Ether Rocks was largely inspired by the Pet Rock toy craze which took place around 1975.
The first Ether Rock was sold for 0.0999 ETH, that was equivalent to around $300 USD at that time. The other rocks were sold for between 0.1 ETH and 0.36 ETH. The price steadily rose as new rocks were being minted. During its initial three years of the launch, only 20 out of the total 100 rocks were sold, leaving the other 80 odd rocks unclaimed.
But, as of recently Ether Rocks have received a huge amount of hype and attention as NFTs, which has spiked the value of these virtual rocks drastically. Currently, all of the Ether Rocks have been successfully minted and majority of the rocks are put up for sale, via the Ether Rocks NFT marketplace.
How much are Ether Rocks valued at currently?
The rocks are currently valued at sale price from a range of 31 ETH (nearly $104,000 USD, at the time of writing) to a whopping 626,262 ETH (approximately $2.1 billion USD) per one, and these rocks are in high demand for purchasing, at the moment. Only a few weeks ago, ETHRock number 21 was sold for 45 ETH, equivalent to about $134,240 USD, at the time.
This craze to own one Ether Rock is causing the prices to spurge even higher. The cheapest rock in the Ether Rocks marketplace is currently valued at 95 ETH ($305,000 USD). Some of the rocks have been sold for $612,00 USD, $642,000 USD, $714,000 USD, and even $837,000 USD over the past few days.
The ETH Rocks can be put up for sale only on its marketplaces, unlike other popular NFT collectibles.
When the article was written, the most expensive Ether Rock was sold for nearly $1.3 million USD or 400 ETH. Moreover, the leading figures of the crypto industry hopped onto this trendy craze where TRON’s founder, Justin Sun, purchased an Ether rock for $500,000 USD.
What is the actual value of Ether Rocks?
In real life, Ether Rocks have no value. The website claims that “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.”
Buyers of ETHRocks state that they wish to spend a large amount of money to purchase the NFT that has no value in the real world, is to claim ownership of the second-best historical NFT left in existence, after CryptoPunks.
Instead of the monetary benefits or external utilities bound to these rocks, buyers enjoy the nostalgia tied to these historical NFT collectibles.
A few speculators claim that the prices of EtherRocks will continue to increase for a while. Rumors reporting involvement of institutions in Ether Rocks has further attracted buyers to buy the rocks, and patiently wait for the right opportunity to sell the rocks and cash out in millions of dollars.
How to buy Ether Rocks?
Similar to other dApps on the Ethereum network, users are required to connect their web extension wallet such as MetaMask to Ether Rock’s official website. Tap on the “Connect to MetaMask” button. Follow the instructions on the MetaMask extension, allowing the wallet to integrate with the 2017 original, Ether Rock website.
Ensure that you have sufficient ETH funds in your balance, you can now explore the marketplace and search for available rocks with a simple BUY button, right below that particular rock.
Note that, all the existing 100 rocks have been sold. Ether Rock enthusiasts can however, buy non-virgin rocks, if they have been listed for sale by their particular owners. Beware of any other projects claiming to sell rock NFT’s, which may turn out to be fraudulent or sites that employ buggy exploited contracts, for example ‘etherrockoriginals’.
How to check Ether Rock Price?
To check the price and latest Ether Rock sale, head over to Twitter @etherrockprice
https://twitter.com/etherrockprice
Current #EtherRock Price Floor is 730 Ether ($2,274,140)
Conclusion
NFTs are super hyped now. The craze and traction NFTs have been receiving as of lately, has also aided in pushing this craze further.
Currently, the value of these virtual rocks is rising by every passing minute and smart investors are cashing out, while they can. We cannot determine if we will lose Ether Rocks to history, along with the long lost ICOs or whether they form a significant part of the crypto industry.
To check out for more updates on Ether rocks follow their Twitter handle.
NFT Sprites is an NFT project launched in March 2021 by the same developer as Etherrocks. So cou;d NFT Sprites be the next Etherrock?
Read more: https://cryptobullsclub.com/ether-rocks/?utm_source=rss&utm_medium=rss&utm_campaign=ether-rocks
Text source: Crypto Bulls Club
