BitTorrent CEO Justin Sun Bought Eth Rock NFT Spending Half A Million

KEYPOINTS

  • The Ether Rock project began in 2017.
  • Ether Rock, which is being sold as NFTs, 
  • It has no other value beyond that of a ‘collectible.’

Cryptocurrency investors are frequently in the news for making large profits or losses. They rarely make a splash by investing in something as inert as a rock. They do now, at least.

A digital painting of a grey-colored rock from 2017 that was part of a pet project has sold for an astronomically high amount. Its non-fungible token (NFT) version was sold for ETH 33 — around $100,000 in today’s money (roughly Rs 75 lakhs).

These pebbles are one of the Ethereum blockchain’s initial NFT collectible projects. There were just 100 of these “pet rocks” made.

“Only 100 rocks can ever be available,” according to the EtherRock website, “and each new virgin rock gets more and more expensive.” All “virgin rocks” have been sold as of this writing. On the EtherRock website, non-virgin rocks can be purchased.

Reacting on this, Tron CEO Justin Sun flaunted his new NFT on twitter.

On Twitter, Sun has triggered a fierce debate. Many people have noted that prominent cryptocurrency speculators appear to have lost touch with reality.

This isn’t the first time Tron’s CEO has stunned his fans with an ill-advised spending spree. A dinner with Warren Buffett cost him $4.5 million (£3.3 million) and took place in February 2020. He also owns a number of additional NFT works, but they have received far less attention in the media.

People started reacting on the news as soon as it spreaded across themicroblogging site.

One of the twitter user mentioned that “Now bricks are being sold for money, that too not the real ones!!”.

The NFT collection is named after entrepreneur Gary Dahl, who made a fortune in 1975 by selling people rocks as pets thanks to his excellent marketing talents.

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