The Ether Rock project sells images of rocks in NFTs, which can fetch up to 6 figures. NFT sauce is bringing Pets Rocks back into the mainstream.
A $100,000 rock
The first Pet Rock, originally an ordinary gray rock considered a pet, was sold by the concept’s creator, Gary Dahl, in 1975. At the time, each Pet Rock sold for $3.95. This innovative or wacky idea made Gary Dahl a millionaire.
And as crazy as it sounds, the trend is still filling the wallets of their holders in 2021. 2 Pets Rocks – in the form of NFTs this time – from the Ether Rock project have indeed sold for over $100,000. One person bought Ether Rock #21 for 45 ETH, or $135,240, on August 8, 2021. Number 33 sold for 33 ETH, or $103,958.
Ether Rock offers a collection of 100 NFT images of rocks with the same design but different color inspired by Pet Rocks. Some of these NFTs were released in late 2017.
Ether Rock: Concrete arguments
Ether Rock clarified on its website that its Pets Rocks “have NO PURPOSE other than to be bought and sold, and to give you a strong sense of pride in owning one of the only 100 rocks in the game.”
Twitto @degenharambe, who claims to have purchased #74 of the collection for 15 ETH, or $46,300, on August 8, 2021, considers his purchase as “one of his best investments” that he has made in the cryptosphere. He offered several reasons why he paid such a large sum for the image of a rock:
“As we move into the era of digital collectibles, being one of the first art forms and being the first [to] do something gives them a provenance that has value. There’s also a nostalgic aspect, collectors will look for old pieces with historical significance.”
Some NFT projects benefit from their fun image, while others benefit from a more serious image, such as those in the luxury or even high fashion sectors. The success of NFTs such as Pets Rocks, whose real value may escape the average person, further questions the sustainability of the NFT boom. Are they just another bubble that will eventually burst?
