If you think spending $836,925 for a painting with a painted stone is insane, have a seat. After all, the EtherRock project’s NFT was purchased today at this price!
With the introduction of non-fungible tokens, the number of impulse purchases in the cryptocurrency market increased rapidly. The picture of a stone was one of these for someone. In just a few weeks, the price of the cheapest EtherRock token has risen by an incredible 900 percent. The cheapest of the offered stones went for $305,000 yesterday, while one stone sold for $100,000 a week ago.
Many of you have undoubtedly concluded that this is another “hype” idea, conceived “on the spur of the moment” only a few days ago. EtherRock’s NFT collections, on the other hand, were created in 2017, making them one of the “oldest” non-fungible tokens. The project’s pictures were sourced from a free clip art resource and were inspired by the iconic 1970s toy Pet Rock.
Except for the color variations, all 100 stones offered in the collection are nearly identical. EtherRock 55, for example, which sold for $409,000 yesterday, is blue, as are the other three stones in the NFT collection.
Justin Sun, the CEO of TRON, is known for his bold cryptocurrency purchases. As a result, he couldn’t pass up the opportunity to invest $580,000 in one of the EtherRock stones. It’s amusing that a bot that automatically reports when someone purchases an NFT from the EtherRock collection was ahead of him in posting this information. Only two hours later, Sun himself wrote about it.
Many non-fungible token specialists think that the EtherRock acquisition is nothing more than a method to flex, which is why they’re so popular in this chaotic era of non-fungible tokens. The stones serve no use other than purchasing and selling, and realizing oneself as the owner of one of the hundreds of NFT stones manufactured is even stated on the project’s website.
Earlier this spring, the creator of EtherRock announced the debut of another NFT Sprites project, which merged multiple technological advancements simultaneously, including deepfakes and blockchain. Artificial intelligence built 100 avatars, with the cheapest costing 1.9 ETH, or $6342 on Huobi.