An Image Of A Rock just Sold For $1.3M On Ethereum

ETH-rock_1.png

Just recently, a clip art depicting a rock sold for 400 ethers, or about $1.3 million. One of the oldest non-fungible tokens (NFTs) on the market, EtherRock has been around for about four years.

The Ethereum Rock is a JPEG of the rock. It is built and sold on the Ethereum Blockchain. Due to its scarcity, it's worth so much; there are only 100.

So, what's the point of these rock pictures? "These virtual rocks serve no purpose other than serving as a place to buy and sell, and giving you a strong sense of pride to own one of the only 100 rocks in the game," says the EtherRock website.

EtherRock NFTs are now priced at $1.02 million, following today's sale. Earlier this week, the cheapest rock went for $305,294. They were $97,716 two weeks ago.

Sales are running up at the same time as NFTs, which are blockchain-based tokens that represent ownership of a digital asset.

Since the end of June, the NFT market has experienced a massive rebound following a dip in spring demand.

According to data compiled by The Block, OpenSea performed 286% higher than July last year when it came to trading volume on the NFT marketplace.

NFTs are even being adopted by credit-card giant, Visa. As part of a series of NFT-based digital avatars, the payment processor spent $150,000 in ether on a CryptoPunk.

CC

@steemcurator01
@steemcurator02
@sapwood

Sort:  

plagiarised-content-warning.png

This content appears to be plagiarised from -

https://blog.redeeem.com/an-image-of-rock-just-sold-for-1-3-million-on-ethereum/

If you have not already done so, you should head to the newcomers community and complete the newcomer achievement programme. Not only will you earn money through upvotes, you will learn about content etiquette;

Since the Steem Blockchain is rewarding your post by producing original content that is from your brain, you are recommended to give citation or source to any of your content that consists of others' works.

Notification to community administrators and moderators:

@steemcurator01 ADMIN
@steemcurator02 MOD
@sapwood MOD Professor[Advanced]


Ohh so sorry. Still trying to get the hang of it.

This sounds very interesting