EtherRock, a non-fungible token (NFT) project, has recently achieved another significant NFT sale. According to on-chain data, an EtherRock NFT was sold for 200 ETH, which is 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 of which have the same shape and size but come in 100 different colors. The collection is deployed on the layer-1 Ethereum blockchain and can be traded on NFT marketplaces like OpenSea, like most other NFT collections.
The recent sale of EtherRock #46 for nearly half a million dollars is not entirely surprising, considering the project has witnessed other high-cost sales in the past. The scarcity of these digital tokens contributes to their high value. Just a few hours ago, EtherRock #74 was sold for 180 ETH. In June 2023, an EtherRock was sold for 130 ETH, equivalent to around $248,000 at the time. In August 2021, an EthRock achieved a staggering sale of $1.3 million, worth 400 ETH, marking the highest sale for this rock-themed collectible. These expensive sales have driven EtherRock’s current floor price to 239 ETH, which is worth over $593,900 at the moment.
The success of EtherRock has likely inspired NFT creators to replicate the project on the Bitcoin network. Last year, Bitcoin Rocks recorded a sale of one of its rock-themed artworks for 3 BTC, which was valued at over $110,000 at that time.
The recent sale of an EtherRock NFT contradicts the sentiment that NFTs are dead. The vitality of the NFT industry has been questioned in recent months, with some claiming that the market is dead while others argue that it is still thriving. While it is true that the hype around NFTs has diminished, sales like the one achieved by EtherRock help reignite hope that the industry is far from dead.
Furthermore, the frequent sales of NFTs from other popular collections and the increasing value of projects like Pudgy Penguins NFTs indicate that the NFT industry is still very much alive.
Tags: NFTs
