Ethereum whales are spending $ 100,000 on digital rocks

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An early NFT project called EtherRocks rose in value this weekend, with the reserve price more than doubling in 48 hours.

EtherRocks sell for $ 100,000

EtherRocks is the latest project to take advantage of the current NFT mania.

The digital rock trade soared this weekend, and many are now selling for more than $ 100,000. Just two days earlier, EtherRocks sold for just under $ 50,000.

Current # EtherRock floor price: Ξ35 Ether ($ 105,070)

Fels ID 95 Ξ35 ETH
Fels ID 46 Ξ37.68 ETH
Rock ID 81 Ξ39 ether
Rock ID 5 Ξ42 ether
Rock ID 25 Ξ42 ether
Rock ID 59 Ξ42.22 ether
Rock ID 27 Ξ50 ether

Last purchases
Ξ45 ether 1h ago
Ξ33 Ether 12h ago #EtherRocks

– EtherRock Prize (@etherrockprice) August 8, 2021

Launched shortly after the NFT forerunner CryptoPunks in 2017, EtherRocks are another early example of NFTs built on top of the Ethereum network. Only 100 were ever created, with each subsequent mint becoming more expensive. Coupled with the fact that many stones seem to have been lost in the four years since the project began, EtherRocks have become a very limited collection.

On the EtherRocks website, the creators of the project state that the virtual rocks are “FOR NO PURPOSE except that they can be bought and sold and give you a strong sense of pride in being an owner of 1 of the only 100 stones in the game.” to be”. Even so, due to the age of the project and the limited collection, NFT collectors and speculators see value in the rocks.

Additionally, not all EtherRocks were created equal, with some colors being rarer than others. While most of the rocks appear in shades of gray, four have a rare shade of blue, which makes them highly sought-after. The owners of Blue Rocks are pricing them at well over $ 1 million; however, no one has ever sold for that much.

Blockone processing

I moved my blue ether rock to $ 500 ETH because institutions are coming to buy the stones

And @ 0xSisyphus is now an 8% owner of my rock

– LilMoonLambo (@LilMoonLambo) August 7, 2021

The EtherRocks hype is further proof of the mania around what some refer to as “NFT summer”. Over the past month, NFTs have grown in popularity on the Ethereum network with massive price increases for the most coveted projects. At the top of the buzz are CryptoPunks, which jumped in value last weekend when an anonymous whale bought 88 punks in a single transaction and raised the reserve price to over $ 100,000. Other projects like the Bored Ape Yacht Club and Art Blocks also sell the most valuable pieces for more than $ 500,000.

Disclaimer: At the time this feature was created, the author was owned by BTC and ETH.

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