Connect with us


The price of Ethereum Pet Rock NFTs Has Surpassed $100,000

One buyer writes, “It’s so stupid that it’s perfect.” Here’s why this 2017 NFT project is suddenly in high demand.



According to critics of NFTs, the current market boom is a fad or a short-lived bubble about to burst. Here’s a mash-up of a supposed trend with one of the best historical examples of a confirmed fad—and these NFT owners are raking in the dough.

EtherRock is a set of 100 NFT photos of rocks that were minted on the Ethereum network. Apart from color variations, they’re all identical in design and were inspired by the iconic Pet Rock toy craze that exploded in late 1975. However, they aren’t fresh new, and they weren’t created as a wink to this year’s NFT market craze: they were initially released in late 2017.

However, they were not well-liked at the time, and most of the NFTs went unclaimed for years. However, the long-forgotten early NFT project was suddenly uncovered and gained traction in the last week as Ethereum users minted the last of the rocks. Even NFT entrepreneur, investor, and social media influencer Gary Vaynerchuk tweeted about it while explaining the added benefits of being an early NFT project.

Secondary market values are now skyrocketing. EtherRock #21, which sold for 45 ETH (or $135,240) on Sunday, was one of two Ether Rocks that sold for more than $100,000 worth of Ethereum over the weekend. Aside from the confirmed sales above $100,000, the cheapest EtherRocks still on the market are priced just below that threshold.

While some NFTs, such as interactive video game elements, have additional, functional utility, the EtherRocks do not. The official website states, “These virtual rocks serve NO PURPOSE other than being able to be [purchased] and sold, and giving you a tremendous sense of pride in being an owner of 1 of the only 100 rocks in the game.”

Over the weekend, one putative EtherRocks owner, who claimed to have purchased #74 in the collection for 15 ETH ($46,300), tweeted about why they believe it will be “one of the best purchases” they have made in the crypto sector.

“As we move into the era of digital treasures, being one of the first kinds of art and the first [to] do something offers them tremendous pedigree. There’s also a nostalgic element to it; collectors will seek out early pieces with historical significance,” degenharambe remarked. “Art’s monetary value is all a ruse. The pet rocks provide the ideal shock value; they’re so ridiculous that they’re great. Fate is a sucker for irony.”

The rapid increase in EtherRocks demand coincides with a late-summer surge in the NFT market. During the first half of 2021, the market generated $2.5 billion in transaction volume, but the excitement surrounding NFTs began to dissipate in late spring and early summer. However, transaction numbers have recently increased, and big-ticket deals have once again dominated the news.

The collection’s pixelated avatars have skyrocketed in value, making CryptoPunks one of the largest benefactors of this year’s NFT surge. Last week, the CryptoPunks market floor surpassed $100,000 in Ethereum for the first time and is now at $131,000, according to designer Larva Labs’ official tracker.

There have also been a few multi-million-dollar CryptoPunk transactions in recent weeks, including one that sold for $5.4 million in ETH in late July and another that Vaynerchuk purchased for $3.7 million around the same time. In addition, a CryptoPunk purchased for just $443 in 2018 was recently sold for approximately $4.4 million in ETH.


Why Afrofuturism will be the Driving Force of NFTs



#nft #nfthours #afrofuturism

Author: @_AdewaleMayowa

A particular group in the world is more excited about the NFT space than most other groups. So, no, it’s not who you think it is. Unless you’re thinking of Black creatives. If so, then you’re right. But why is this group of people so excited? Amongst the many reasons, one of them is because many Black creatives see this as an opportunity to be reimbursed for the works they’ve been doing finally.

Along with the growing numbers of African and African diaspora NFT creatives, another term has been popping up alongside them: Afrofuturism. So it seems a given that Afrofuturism, a concept that merges technology and African culture, is gaining traction in the African NFT creative community. But is that all there is to it?

Author: @Jheytoocool

In 1993, author Mark Dery first coined the word Afrofuturism. Since then, the term has been embraced by many Africans and African diasporas. But even though the term was invented in 1993, the core concept of Afrofuturism has existed for centuries. While some people see Afrofuturism as a mere aesthetic that combines shiny chromes with rustic textiles, others see it more profound. To these people, the essence of Afrofuturism is hope. And it’s this hope that continues to exist in the Black community.

When Africans were forcibly taken and sold to slavery centuries ago, those who survived the brutal process dared to hope for a better future. When African-Americans were segregated and treated as less than a person, they also hoped for a better future. Even in more recent times, when police brutality and institutionalized racism continue to make the lives of Africans and the African diaspora difficult, they continue to hope for a better future.

Author: @mdd_arts

It’s easy to categorize Afrofuturism as a science fiction genre. Dery himself coined the term while discussing why there weren’t more sci-fi works by African American authors. But ask any African creatives, and they will tell you that aesthetics is at the bottom of the list of why Afrofuturism is essential to them. Afrofuturism is not about excellent aesthetics and strong aesthetics. Afrofuturism is about imagining a better future where they or their descendants can live as fully realized beings that no longer have to suffer from the worries of the current world. The aesthetics are just a side effect.

And this brings us back to NFTs.

The decentralized blockchain and NFTs bring a lot of freedom to Africans that may not have had access to that freedom before. As a result, it is easier than ever before to make a living out of making art. They no longer had to deal with government restrictions, unavailable resources, or the difficulty of traveling to sell their creations. As a result, making art is now more lucrative than ever. That’s why Afrofuturism is heavily linked to the NFT movement.

Author: @afroscope_

NFTs offer a glimpse of different and better reality to these Black creatives. This glimpse gives them hope, and this hope drives them to create. It’s a self-fulfilling cycle that will continue for several generations. In a world that feels like everything is against them, NFTs, the blockchain, and the digital future is the silver lining they’ve always longed for. This hope, wrapped up in a blanket called Afrofuturism, will be one of, if not the most significant driving force of Black creatives finally receiving their due in the NFT markets.

Continue Reading


Whitney Houston’s Unreleased Song Demo NFT Sells for Over $1 Million

Whitney Houston’s unreleased track was sold as a non-fungible token for $999,999. OneOf, a music-focused marketplace, was utilized to sell the NFT.



#nft #whitneyhouston #unreleased #demo #nfthours

An NFT based on a previously unreleased Whitney Houston track was sold for $999,999. After first confirming in November 2021 that some Whitney Houston NFTs will be offered, with artwork by artist Diana Sinclair, NFT marketplace OneOf confirmed the sale on December 15. Houston recorded the song when he was 17 years old, but it was never released.

These NFTs have been available for purchase since the opening of Miami Art Week on December 1. Additionally, several NFTs relating to Houston’s career have been launched, and customers can choose which ones they want based on their platform tier.

For example, gold and platinum grade members have access to rare, archive images of the singer. In addition, diamond tier members can get Diana Sinclair’s artwork based on some of Houston’s most well-known tunes.

OneOf is an “eco-conscious NFT platform created exclusively for the music vertical,” according to the company. Quincy Jones, a well-known producer, has lent his support. The platform seeks to list NFTs at fixed costs that are affordable to the general public, and it plans to have thousands of NFTs on its platform.

There has been a lot of talk about how NFTs could change the music industry by raising the amount of money going to artists. This appears to be the reaction of the crypto community to the announcement of the NFT sale in Houston. Indeed, a growing number of musicians and artists in different fields are seriously contemplating collaborating with NFTs.

The NFT format is gaining popularity among artists

Eminem, Grimes, Snoop Dogg, and The Weeknd are just a few artists who have recently released NFTs. The earnings from the purchase of NFTs inspired by musicians are often donated to charitable organizations, such as the Freddie Mercury-themed NFTs launched to aid an AIDS research charity.

It’s easy to see why NFTs would be so popular. Artists are not only paid more, but they are also able to interact directly with their audience. Although NFT adoption is still in its early stages, the music business appears to be on board.

Continue Reading


The Golden State Warriors Basketball Team has Signed an NFT Deal with FTX US



#nft #nba #goldenwarriors #ftx #nfthours

FTX US, a cryptocurrency exchange operating in the United States, said today that it had signed an agreement with the Golden State Warriors professional basketball team. The Warriors will generate and issue non-fungible tokens (NFTs) as part of the partnership, with FTX US serving as the team’s primary digital asset launch hub.

According to a press release, the Warriors based in San Francisco want to launch NFTs FTX US’s NFT marketplace in early 2022. Digital artifacts of the Warriors’ six NBA Championship rings and ten commemorative ticket stubs will be included.

In addition, FTX US will donate one bitcoin to each of three Bay Area charities working to increase diversity in STEM and tech.

In a statement, FTX US President Brett Harrison said, “The FTX US NFT Platform will give a premier, safe, and secure forum for the Warriors international fan base to access rare items from the brand.”

Through its NFT platform, FTX US has made a concerted attempt to grow into sports and entertainment. For example, in November, it inked a contract with the University of Kentucky basketball team to allow players to design and sell their own NFTs.

Continue Reading


Bitcoin (BTC) $ 28,316.59 2.00%
Ethereum (ETH) $ 1,802.53 3.30%
Tether (USDT) $ 1.01 0.38%
Chiliz (CHZ) $ 0.123215 4.62%
Enjin Coin (ENJ) $ 0.403338 3.04%
Decentraland (MANA) $ 0.611760 2.53%
Flow (FLOW) $ 1.05 1.81%
The Sandbox (SAND) $ 0.661983 2.56%
WAX (WAXP) $ 0.070964 0.46%
ECOMI (OMI) $ 0.000859 0.74%