Someone Just Splashed $498,000 on This EtherRock NFT

Non-fungible token (NFT) project EtherRock has recorded another large NFT sale. This time, on-chain data reveals that an EtherRock NFT was sold for 200 ETH (worth approximately $498,000).

Launched in December 2017 as one of the earliest NFT projects, EtherRock (also called EthRock) portrays a collection of limited-edition 100-coloured rocks with the same shape and size. The collection was deployed on the layer-1 Ethereum blockchain. Like most NFT collections, the EtherRock collectibles are tradeable on NFT marketplaces like OpenSea.

NFT Sold for Half A Million Dollars

EtherRock #46 sold for nearly half a million dollars on the market. The expensive sale is not entirely surprising because the NFT project has seen other high-cost sales in the past. These big-budget sales are partly driven by the scarcity of the digital tokens.

Hours ago, EtherRock #74 sold for 180 ETH. In June 2023, Coinfomania reported the sale of an EtherRock for 130 ETH, valued at about $248,000 at the time. In an August 2021 report, an EthRock sold for a whopping $1.3 million, worth 400 ETH. The sale marked the highest sale for the rock-themed collectible.

These expensive sales have brought EtherRock’s current floor price to 239 ETH, worth over $593,900 at press time.

The success recorded by EtherRock has likely moved NFT creators to mimic the project on the Bitcoin network. Late last year, Bitcoin Rocks recorded a sale of one of its rock-themed artworks for 3 BTC, worth more than $110,000 at the time.

Are NFTs Dead? Records Say No

The latest NFT sale defies sentiments that NFTs are supposedly dead. The liveness of the NFT industry has been questioned over the past months. While some claim that the NFT market is dead, others argue that the industry is still alive and running.

Admittedly, the hype around the industry has reduced. Still, sales like the latest EtherRock NFT sale help the public to revive hopes that the industry is not dead.

Other metrics, such as the frequent sales of other NFTs from other popular collections, demonstrate that the industry is not dead. Some projects, like Pudgy Penguins NFTs, are even seeing value increases.