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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Picture Of A Rock Just Sold For $235,000 On Ethereum

Dalmas Ngetich
Dalmas Ngetich
2 years ago
2 mins read
Etherrock

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A picture of a rock, existing as an NFT on Ethereum, has been sold for 139 ETH, Etherscan data on February 16 shows.

EtherRock NFT Sold For $235,000

At the time of buying, the 139 ETH used to purchase the NFT translated to around $235,000. For this transaction, the buyer paid 0.003672481899086462 ETH, or approximately $6, at the time. 

Ethereum Price On January 17
Ethereum Price On January 17| Source: ETHUSDT On Binance, TradingView

Described as “EtherRock,” the NFT is among the earliest in Ethereum and across the NFT ecosystem. Only 100 of these NFTs were minted, and they have been changing hands since then.

Most importantly, the creator says they were created around the same time the CryptoPunks were minted on Ethereum. There are 10,000 CryptoPunks in circulation. Over the years, CryptoPunks have remained some of the most expensive and coveted NFTs in Ethereum and across the ecosystem.

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The issuer of EtherRock claims that with every new virgin rock being minted, the price of each rock will only become more expensive. As things stand, no “virgin” rocks will be minted since the last 100 NFTs were all issued. Interested collectors can instead choose to buy “non-virgin” rocks. All EtherRock NFTs are trustlessly managed via an audited smart contract and are deployed exclusively on the Ethereum blockchain. 

NFT Without Any Utility

It is not immediately clear who the buyer of the NFT is. What’s evident is that EtherRock NFTs don’t have a specific use case. They are created to exist as “pets on the blockchain.” What holders can do, however, is to trade the token. The original owner will profit if a buyer is willing to acquire the NFT at a higher price.

Presently, there are several EtherRock NFTs that can be purchased. Even so, it cannot be immediately determined which NFTs available were acquired from the less than 30 available for purchasing, per EtherRock list. 

There are only two owners of EtherRock on OpenSea. These NFTs have a 0.4 ETH in trading volumes and a floor price of 0.1 ETH. 

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Meanwhile, on the official EtherRock site, the owner of the first EtherRock is selling the NFT for 10,000 ETH. Many of these NFTs are also not available for sale. Even the cheapest EtherRock available is listed for 235 ETH.

The purchase of the EtherRock comes at a time when the broader DeFi, crypto, and NFT markets are recovering after last year’s winter saw trading volumes drop by over 90%.

Feature image from nftplazas.com, Chart from TradingView.
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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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