Investors are allocating six figures for Pet Rock NFT

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The most expensive EtherRock on sale is priced at US$1.9 billion.

The latest craze that has re-emerged in the field of effervescent non-homogeneous tokens (NFT) may be the various digital pet rocks called EtherRocks in 2017.

On August 8, an EtherRock sold out for 45 ETH-the price at the time was approximately $135,240.

Shortly after the launch of CryptoPunks in June 2017, EtherRock was one of the main crypto collection NFTs issued on the Ethereum blockchain. Each EtherRock displays a still image of a stone, and each token has a novel color due to its similar shape and size.

Only 100 EtherRock can be minted, and the good contract for this project was deployed on December 25, 2017. Consistent with Etherscan, the main EtherRock seems to have been sold out on December 26, 2017, at a price of 0.099 ETH (worth about $300 at the time).

Etherscan shows that within the third year of the game’s existence, nearly 20 rocks were sold out at a cost of between 0.1 and 0.36 ETH. Due to slow but steady sales throughout the first half of 2021, the recent booming NFT market has inspired investors to rush to provide the remaining EtherRock quotes-leading to soaring costs.

As each of the 100 EtherRocks sold out, some of these tokens were placed for sale on the common NFT market. The secondary cost ranges from 31 ETH (96,100 USD) to an astonishing 626,262 ETH (approximately 1.9 billion USD).

The physical pet stone was first introduced as a collectible toy by the advertising government Gary Dahl in 1975.

On August 10, Ran Neuner, the co-founder and CEO of Onchain Capital, tweeted that NFT is the last sentence of stored value and inflation hedge:

“There are 7 billion people in the world, 21 million bitcoins-but there are only 100 stones in the world. Can you imagine what happens once institutional cash starts to flow into the rocks? It is only a matter of time before the Rocks ETF is approved.”

CryptoPunks is one of the biggest successes in the NFT assembly world, and tokens often cost six figures. According to a report by Cointelegraph on August 4, a cunning collector recently made a profit of $80,000 in a CryptoPunk sale, when he spent almost no money to buy tokens.