EtherRocks are enjoying a resurgence in popularity in recent weeks. The non-fungible tokens (NFT) with meme status are currently trading for several hundred thousand dollars. Let’s take a closer look at their return to favor
EtherRocks are enjoying a resurgence in popularity
EtherRocks are among the “ancestors” of non-fungible token collections (NFTs), having been created back in 2017. Based on a pebble clipart declined in different shades, they represent a certain absurdity… But they’ve also become particularly popular. There are only 100 of them, and the collection hasn’t changed since its creation.
EtherRocks NFTs are currently making a comeback, and are being traded for huge sums of money. Yesterday, pebble number 19 traded for 279 ETH, or $739,000 at the time of sale:
EtherRock 19 purchased for 279 ETH ($739,015)
21 mins ago (Feb-13-2024 05:27:59 AM +UTC)
Txn: https://t.co/aADiwCdMmoEtherRock EtherRocks pic.twitter.com/F7WUU3b4HQ
– EtherRock (@EtherRock) February 13, 2024
The collection’s floor price has soared, reaching $600,000 yesterday. How, then, to explain the return to favor of a collection that arouses disdain as much as admiration?
EtherRocks arrive at Sotheby’s
The answer is Sotheby’s. The venerable auction house is offering a sale of some EtherRocks today. It describes the collection as a pioneer among non-fungible tokens, and explains its popularity not least by its rarity:
” The low supply of 100 rocks makes these digital objects desirable. The rocks are identical in shape and size, the only visual difference being color. “
Sotheby’s also highlights the fact that EtherRocks have become indicators of the liquidity present on cryptocurrency markets. When enthusiasm returns, as is the case at the moment, their prices tend to climb. Moreover, the absurdity of the collection was underlined right from the start, in the statement by the collection’s anonymous creator:
“These virtual pebbles serve NO PURPOSE beyond being able to buy and sell them, and giving you great pride in being the owner of one of these 100 collectible pebbles. “
Purposeless pebbles currently trade for over half a million dollars. So their appeal through absurdity seems as powerful as ever.
