NFT of a Rock, EtherRock, Sells for MORE than a Million Dollars—HIGHEST Price for the JPEG Cartoon [UPDATE]

NFT of a rock artwork, EtherRock, just hit another all-time high price by racking up beyond the 1 million dollar mark.

The milestone transaction of EtherRock, a long-time brand of crypto collectibles, marks the highest since its inception in 2017.

It is to note that it is one of the oldest non-fungible tokens of NFTs in the market.

EtherRock has been making waves in the world of NFTs recently, selling only a hundred pieces with a hefty price tag. The latest hype allowed its buyers to own a cartoon of a rock, as the name suggests.

NFT of a Rock, EtherRock, Prices

On Aug. 22, it broke its price ceiling after crypto mogul, Justin Sun, spared more than half a million to buy an EtherRock NFT, as per MorningBrew.

Sun, who goes by the username "justinsuntron," went on to tweet that he "just spent haft million dollars on a rock," or $611,710 to be precise. That same day, the cheapest EtherRock being sold already reached $1.05 million or 321.12 Ether.

It is worth noting that two days ago, the NFT of the rock was only selling for a price starting at $305,294. And two weeks before it, the cheapest option of EtherRock did not even sell that well.

To be precise, it was only sold at $97,716, as per the data of a Twitter account that follows the price of the NFT that goes by the name EtherRock Price.

NFT of a Rock, EtherRock, All-Time High Price

Now, on Aug. 23, someone already bit the hefty $1 million price tag, buying the EtherRock for $1.3 million to be exact, or 400 Ether, according to CNBC.

After the all-time high transaction of $1.3 million, the new price floor of the EtherRock is now at a whopping $1.1 million, whereas the highest price tag is now to the tune of $2.5 million.

EtherRock: Why Buy One

As mentioned, the million-dollar worth rock is not something that you get to hold personally. To be clear, it is an NFT, thus it is a virtual asset inside the Ethereum Blockchain.

To note, the scarcity of the cartoon rock in the JPEG format is partly to blame for the crazy hefty prices that it is recently garnering.

The website of EtherRock admits that the picture of rock clipart "serves NO PURPOSE," noting that it could only be bought and sold, nothing more than that.

The hyped crypto collectible further wrote that owners of the rock could instead boast that they own one of it as it is only available in limited numbers.

Elsewhere, here are some of the top NFT marketplaces to buy and sell.

This article is owned by Tech Times

Written by Teejay Boris