Ether Rocks have existed for years, but they only became popular amid last year's NFT frenzy. The NFT space has taught us time and again that anything can become valuable—even a collection of digital rocks!
Let's take a closer look at what Ether Rocks are and why they are valuable.
What are Ether Rocks?
Ether Rocks are NFTs (non-fungible tokens). The collection consists of digital images of rocks tokenised on the Ethereum blockchain. The “rocks” are all identical in design and shape, but each has a slightly different colour tone. Ether Rocks were inspired by the “Pet Rock” toy craze of 1975. Only 100 ETHRocks will ever exist!What does an Ether Rock cost?
Ether Rocks launched in December 2017. The first rock sold for 0.0999ETH, or about $300 at the time. During the first 3 years of its launch, only about 20 out of 100 rocks were sold! In August 2021, one rock sold for a staggering 400ETH (or around $1.3 million!) Why are EtherRocks valuable? Most buyers state that their motive for spending such huge sums is to own one of the best historical NFTs.Avid collector, Andrew Kang tweeted his rationale for buying the rocks:
"For some NFTs, you can make the argument that they are aesthetically pleasing, they have an amazing origin/generative story, they can be used in a game, etc, none of these are currently the case for rocks." Kang says, “The ownership of something so utterly useless is a quintessential example of a flex.”
Even the project's site states:
“These virtual rocks serve NO PURPOSE beyond being able to be brought [sic] and sold, and they give you a strong sense of pride in being the owner of 1 of the only 100 rocks in the game :)”
To learn more about NFTs, read our Pro journal NFTs: Weird, Wonderful & Worth a Lot!
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