Ether rock… ever heard of that?
Ether rocks are a special type of NFT that is based on Ethereum, a blockchain platform and cryptocurrency. The idea behind these digital artworks is to create unique pieces of art that can only be obtained by owning an ether rock.
The idea behind ether rocks is to create unique pieces of art that can only be obtained by owning an ether rock. It is like a piece of art without artwork.
These NFTs are meant to be collectible, so you will need to hunt down a limited number of them in order to own one.
WTF is Ether Rock: History & Popularity
Ether Rock was one of the first crypto collectible NFT-type projects on the Ethereum blockchain, having launched shortly after CryptoPunks. Only 100 ether rocks can ever be available, and each new virgin ether rock gets more and more expensive.
This game was built entirely on the Ethereum blockchain, with a decentralized smart contract used to manage everything including the buying and selling of the rocks, their prices and owners.
The Ether Rocks were launched in December of 2017, and since then they have grown in popularity. Some people believe that Ether Rocks will become even more popular as more people learn about them and start using them as an alternative to Bitcoin or other cryptocurrencies.
Ether Rocks are the crypto equivalent of a collectible card game, but with a twist. Instead of playing against other players, you play against the blockchain and your opponents.
Ether Rocks are only available on the Ethereum network, which means they can only be purchased using Ether. You will need to get some cryptocurrency before you can buy them though — there are currently two ways to do this(get eth cryptocurrency):
The first way is to exchange your fiat currency (such as Canadian or US dollars) for Ether. The easiest way is probably Coinbase, which allows you to use both credit cards and digital wallets to buy and sell bitcoin and other cryptocurrencies like Litecoin.
The second way is through an exchange that supports Ether like Binance or KuCoin. These exchanges allow you to trade your cryptocurrencies directly for ether without having to convert them into fiat currency first.
How much are Ether Rocks valued currently?
The price of Ether Rocks is not fixed, but it is expected to be pretty high. The rocks are valued in the range of 31 ETH to a whopping 626,262 ETH (approximately USD 2.1 billion) per one, and these rocks are in high demand for purchasing, at the moment. ETHRock number 21 was sold for 45 ETH, equivalent to about USD 134,240, at the time.
The value of Ether Rocks will depend on how much demand there is for them in the future. If people think they are valuable enough to buy them and use them to invest in Ethereum-based projects, that could drive up the price even more.
Leading cryptocurrency industry figures seem to be on this craze as TRON’s founder, Justin Sun, purchased an Ether rock for USD 500,000.
What is the actual value of Ether Rocks?
Ether Rocks is a new cryptocurrency that was created by the Ethereum community. It is not an alternative to Bitcoin and other altcoins, but with its unique features and advantages.
It is not a replacement for Bitcoin because it has different goals and uses. It is also not intended to be used as a payment method for services or products, so it does not have any direct value in itself.
However, Ether Rocks can also be used as an investment vehicle like other cryptocurrencies, especially if you are willing to buy more than one unit at once (which is called buying “Rocks” rather than “Rock”).
So in simple terms, Ether rocks have no value.
The website states that “These virtual rocks serve NO PURPOSE beyond being able to be bought and sold, and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game.”
WTF are Ether rocks: How to play
You must be connected to the Ethereum mainnet to view info on rocks, and some Ether (the currency of Ethereum) to buy a rock. The easiest way to connect to the Ethereum mainnet is to use the MetaMask plugin for Chrome, go ahead and install it. To get Ether you will need to buy some from an exchange like Coinbase.
How to buy Ether
You can buy Ether with fiat currency, cryptocurrency, or a combination of both. Some exchanges allow you to purchase Ether with your local fiat currency.
Ether Rocks are not listed on an exchange and are only available through the blockchain. This means that there is no centralized location where you can find them. However, there are several websites that allow you to buy and sell Ether Rocks directly from other users in exchange for other cryptocurrencies like Bitcoin or Ethereum.
Note that all the existing 100 rocks have been sold. Ether Rock enthusiasts can, however, buy non-virgin rocks, if they have been listed for sale by their particular owners. Beware of any other projects claiming to sell Ether rock NFTs, which may turn out to be fraudulent or sites that employ buggy exploited contracts, for example, ‘etherrockoriginals’.
You can check the price of Ether Rocks listed for sale here on Twitter https://twitter.com/etherrockprice?lang=en
Once you connect to the Ethereum mainnet, information on all the rocks Ethereum users have bought is shown. Any rocks that users have listed for sale could also be shown.
If you are in to get NFTs just for the bragging right of ownership, these ether rocks seem like the perfect place to sink your money as the limitation of just 100 rocks in existence gives you a lot of bragging (and/or probably bargaining) power.
Noting that NFT hype and craze are on a steady increase will help you make better decisions on when and where to invest.