13/08/2021 People are buying $200,000 NFT rocks

Prices for NFTs have skyrocketed this summer, and crypto enthusiasts have invested exorbitant amounts of money in everything from digital trading cards to virtual property.

Now you can add digital rocks to the mix as well.

Bored Apes' floor price hits lowest point since 2021, down more than 90% from all-time high
7-Day NFT Sales Increase by 37%, Bitcoin-Based Collections Lead
NFTs In Music: Watch The Most Recent Pro>Sessions Installment To Learn About How You Can Use Your Art To Digitally Capitalize

Prices doubled over the weekend and then again on Monday for EtherRocks, an early NFT project consisting of identical digital rocks that come in different colors, with some selling for more than 69 Ether, according to the Twitteraccount @EtherRockPrice, which tracks the rocks’ prices.

This means some rocks are selling for more than $200,000, and the price floor is more than $100,000 based on the price of Ether as of publication. Three days ago, the rocks were selling for around $50,000.

Although NFTs have been around for years, they exploded in popularity earlier this year during the pandemic and following the $69.3 million sale of an NFT collage at Christie’s by digital artist Beeple.

NFTs can be purchased on different third-party exchanges, one of the most popular of which is OpenSea.io. As for the EtherRocks, they can only be purchased on the project’s website.

The NFT rocks have been around since 2017, and were created around the same time as CryptoPunks, one of the earliest NFTs on the Ethereum blockchain.

On the EtherRocks website it states that the NFTs “serve NO PURPOSE beyond being able to be brought [sic] and sold, and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game :).”

Some of these 100 EtherRocks have been lost over time, according to CryptoBriefing, and the limited quantity has caused the price of the rocks to soar. Collectors are especially keen on rocks of different hues, including four rare bluish rocks, which contrast with the gray shades of most of the others.

One owner of a bluish NFT rock, who goes by @LilMoonLambo on Twitter, has listed it for 500 ETH, or more than $1 million. The rock has not yet sold.

They said they purchased the rock because in their opinion it is the second best historical NFT behind Larva Labs’ CryptoPunks.

“We live in the meme economy, and right now jpeg rocks are outperforming gold,” they told Fortune via Twitter DM. “Digital scarcity is the trend in a world of inflation.”

LilMoonLambo said the rocks have more value because of the scarcity compared with the CryptoPunks NFTs, of which there are thousands in existence.

“500 ETH is a drop in the bucket in the crypto art space,” they said.

Arts

https://fortune.com/2021/08/10/nft-rocks-200000/

Interesting NFTs
Magnetic Forces v3
"El imán humilla al hierro. Es una teoría sobre el amor. Magnets humiliate iron. It's a theory about love." --Marco Denevi
Basic Mint
Hey cutie! I'm Basic Mint. I want to live in a world where people believe that one day cats will rule this planet. I once dreamed of being a Spin Instructor . Now I can be found running a podcast all day. Let's get busy!
Genesis
José Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
#3959
By OthersideDeployer
CryptoPunk 9998
One of 3840 Female punks.