Non-fungible tokens, better known as NFTs, are no longer new to the cryptocurrency market. New NFT collections are added every day and the possibilities are expanding to different blockchains. You can now trade these unique digital assets on Ethereum, Solana, Radix, and much more. But not all are equally special or worth the same amount of money. The same cannot be said for almost ‘primitive’ NFT collections. Discover in this blog All about ether rockshow much are they worth and why are they so special.
What are ether rocks?
Ether Rocks is one of the first NFT collections on the Ethereum blockchain† The collection consists solely 100 Ether Rocks that are almost identical to each other. They have the same shapes and dimensions, but differ from each other by their unique color. No fancy art, no masterpiece in digital design, just simple 2D looking rocks.
Ether Rocks NFT
Perhaps you have been active in the world of cryptocurrencies and NFTs for some time and this term has become part of your daily vocabulary for you. But in early 2017, NFTs were still relatively unknown† Of course, we had the release of CryptoPunks and CryptoKitties in 2017. A unique collection of NFTs, where the CryptoKitties were like Tamagotchi-like creatures that you had to keep alive. A crypto game, based on NFT. Innovative in 2017, in 2022 we see more and more NFT collections with some utility like play to win games. These Ether Rocks, on the other hand, had and still do not have any function. Do not!
Do you want to know more about NFTs? Check out the video below from fellow writer Matt:
The history of ether rocks
The name Ether Rocks comes from the popular game Pet Rock in the 1970s. Why were they so popular? As they themselves say:
Pet Rock is the only pet you’ll ever have that you never need to feed, walk, bathe, groom, or neuter! Pre-trained to “sit” and “stay” and best of all, Pet Rock is the only pet that will never run away!† Pet Rocks can be anything you want it to be as you are only limited by your imagination.
meand having a ‘pet’ you really shouldn’t worry about, purely a gadget† All you need for this Pet Rock is a strong fantasy piece. The benefits, but not the burdens. To what extent can one speak of ‘lust’ here, of course. Why did the founder launch this collection? Yes As a hobbyist programmer, I wanted to delve into the art of web 3.0 and Solidity. The latter is a programming language for both programming and implementing smart contracts on various blockchains, such as the Ethereum blockchain in this case. An experiment with great consequences.
Mint Ether Rocks Price
You must mint each NFT, a non-fungible token. This means that it is going to store a certain digital asset, the image of this stone in this case, on the blockchain. This promotion (unfortunately) is not free. The costs of this minting price differ depending on the project. The The minting price of these Ether Rocks was only 0.1 Eth. This was equivalent to $300 at launch. At that time, a considerable amount for a completely new technology. Interestingly, 3 years after launch, only 20 of these digital bricks were sold. With the increasing popularity of NFTs, it was not long before all the Ether Rocks were sold. The remaining Ether Rocks were sold between 0.1 Eth and 0.36 Eth† Still a bargain considering the current value of these nonsense stones.
What is the value of Ether Rocks?
gary vayner chuckbetter known as GaryVee is no stranger. The Russian-American businessman is practically at the forefront of the development of these NFTs.† He has proven this with his own collection of NFTs called VeeFriends. With a very strong opinion and a loud voice, he also has some influence in the market. That became clear again in August 2021. After his tweet about Ether Rocks, the price surged to unprecedented levels with the cheapest Ether Rock worth $300,000. And that turned out to be just the beginning. Later that year, 3 of these Ether Rocks sold for millions:
- 599 Ether – $2,268,832
- 790 ether – $2,607,584
- 888 Ether – $2,872,733
Still not impressed? The highest amount ever reached was reached in October 2021. With no less than 900 Ether, equivalent to $3.7 million† Again: For a digital image of a stone without any features.
Ether Rock as a store of value
Just as Bitcoin has a store of value, we also see this happen with early NFT collections, such as Ether Rock. One wonders if investors are really interested in this NFT. When we look at Bitcoin as a store of value, we see an entire technological and financial revolution. While the technology behind these NFTs can and will change society as a whole, the intrinsic value of these stones can be disputed.
These Ether Rocks are therefore much more than these stones. It is a store of value and give a certain status. As one of the first major NFT collections with only 100 unique items. Today, NFT collections consist of thousands of items. Simple stones, some of which are worth millions of dollars. The rarer and more unique a collection is, the more this value will increase. After all, who wouldn’t want one of the first NFTs in history? Yes, I say this consciously once, because there will come a time when NFTs will almost overwhelm us and then it is so unique to have one of the oldest in your possession.
Thanks to blockchain technology, everything is decentralized and public. This means that we can see who owns what based on all addresses. One tool to recover this data is EtherScan. You can search and view all transactions on the Ethereum blockchain here. we saw that in On February 16, 2022, an Ether Rock was sold for a whopping 300 Ether, worth $922,920. For the optimistic reader: for a million dollars.
Baby Aether Rock
As many things we have then, often, the feeling that we have missed the boat. Whether it’s with Bored Ape Yacht Club or CryptoPunks, we’re always late. Why not create a new opportunity? So thought the creator of Baby Ether Rock. If a copy of the Ether Rocks, but in miniature version. The collection was launched in 2021 for anyone who wants to own an Ether Rock, but cannot afford it. Like the Ether Rocks, these little variants are also useless. Still, these small variants are less impressive. We see this in both trading volume and minimum price on OpenSea.
OpenSea is the NFT trading platform on the Ethereum blockchain. Virtually all non-fungible tokens that exist on the Ethereum blockchain can be offered here. It is often the place for treasure hunters to hunt for pearls. Are these pearls Baby Ether Rocks? That is debatable. The collection of these small Ether Rocks cannot match the success at the moment. The collection has a minimum price of just 0.19 Ethereum, which, at the time of writing, is equivalent to approximately $600.
The Ether Rocks themselves, on the other hand, can only be traded through their own platform. Curious to find out which Rocks are still for sale and at what price? Connect your MetaMask wallet to the platform and learn more. We see in the following example that most of them are not even for sale. Those for sale are traded for sample quantities.† If you want to buy an Ether Rock yourself, you will have to come from good houses.
EtherRock for pennies?
You should know that in a decentralized environment, no one but you is responsible for all your actions and all your expenses. This means that you need to keep an eye on your MetaMask or other software wallets, and be careful about saving your seed phrase and recovery seed phrase, but also the details of a transaction. Someone who from now on will look askance at these details is Rock Dust.
With each sale you decide how much you want to sell your NFT for. In the case of OpenSea, this is done on the basis of Ether. Each transaction is grouped into a specific block, which is recorded on the blockchain. Depending on the network, this may take some time. That’s why you can choose speed up the transaction if you are willing to pay a higher transaction fee. You can do this by paying additional ‘Wei’.
One Wei is one billionth of 1 Ether. To put it in numbers: 1 Ether = 1,000,000,000,000,000,000,000 whey. Rock Dust wanted to sell his Ether Rock for a modest amount of 444 Ether, maybe 1.14 million dollars, but instead included his unique and valuable Ether Rock for 444 Wei. For the mathematician among you, that’s less than a penny. We see that there are several bots present in such NFT markets to spot these unique opportunities and act immediately. Your NFT was thus bought by the exchange in a few milliseconds. Less to change even.
In March 2021, a new collection of NFTs from the same developer was released. It’s unclear who this mysterious developer is, but it’s clear he’s doing his thing. This NFT Sprites is a collection of 100 NFTs composed of people generated by AI† Not real people, but realized and designed on the basis of artificial intelligence. A dynamic NFT that is very remarkable. The first NFT costs only 0.005 Ether, after which the purchase price increases constantly. Does this NFT have a purpose? Not absolutely not. A soulful person who, at most, can keep you virtual company during lonely nights. Just like Ether Rocks, these NFT Sprites can only be traded on their own website. And unsurprisingly, we see large numbers here as well.
The path that Ether Rocks has traveled is impressive. For years there were not enough investors willing to buy a digital stone, soon after they are worth nothing less than millions. But will it stay that way? With the development of NFT and its associated utility, it is of course becoming more and more difficult to sell purely digital art. Although this still happens, we see a huge difference in quality between the artworks. Stunning visuals, unique skins, or eye-catching clothing. Compared to these 2D bricks, much more interesting of course.
Despite this, the owners of these Ether Rocks hold on to this NFT very well. It’s not so much about this digital stone anymore, but this Ether Rock has become a symbol of the origin of this technology, of the NFT revolution. Few people will be inherently happy when they see this stone, but it does symbolize a certain status. Both precursors of this technical revolution, but also belonging to an exclusive group that owns one of these Ether Rocks.
The comparison can be made with CryptoPunks, among others, although these anarchic, pixelated creatures look a bit more interesting. It basically has no use, no purpose, but it’s just a very valuable device. there’s also no more plans for Ether Rocks, remain pleasingly statistical and aimless, as they always have been. But just as fans seek out early Pokémon cards and older cars, this collection of NFTs will always be extra special.
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