Crypto News

Ethereum Rock JPEG Sells for $600k

“The price for the cheapest available EtherRocks has jumped by 900% in just two weeks.

In brief

  • EtherRocks consists of rock JPEGs that have no function other than being traded.
  • TRON CEO Justin Sun claims to have bought one for half a million dollars this morning.
  • The cheapest rock available for sale is now $1 million.”

$608,000 for a picture of a rock might sound too wild to be real. But today, one crude illustration from NFT project EtherRocks sold for just that.

Now sellers want even more for the flashy JPEGs. The cheapest pet rock sells for $1 million. Just yesterday, the cheapest rock was priced at $305,000, and only two weeks ago, one sold for $100,000.

The buyer of yesterday’s cheapest rock could have made $400,000 if they sold at today’s market rate.

The rocks are NFTs, or non-fungible tokens: blockchain-based tokens that demonstrate ownership over digital items, such as images or video files, or physical assets.

There are 100 EtherRocks, each created in 2017—ancient for an NFT project. The illustrations come from a royalty-free clip art database and were inspired by the Pet Rock toy craze of the 1970s.” Decrypt

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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