Somebody Paid $1.3 Million for a Picture of a Rock

Clip art of a rock just sold for 400 ether, or about $1.3 million, late Monday afternoon. The transaction marks the latest sale of EtherRock, a brand of crypto collectible that's been around since 2017 -- making it one of the oldest non-fungible tokens (NFTs) on the block. From a report: EtherRock is, as the name implies, a JPEG of a cartoon rock, built and sold on the ethereum blockchain. There are only 100 out there, and that scarcity is part of what's driving up its value. So, what are these rock pics good for? According to the EtherRock website, "these virtual rocks serve NO PURPOSE beyond being able to be brought and sold, and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game :)" Following this latest sale, the new price floor for an EtherRock NFT has been raised to $1.02 million. Two days ago, the cheapest rock went for $305,294. Two weeks ago, it was $97,716.

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