One of the most expensive NFTs ever sold was Ether Rock #8, a digital collectible that represents a virtual rock. The buyer, who goes by the name of 0x650d, paid a whopping 170 ETH (about 372,000 USD) for the rare NFT.
Ether Rock is a project that launched in 2017, making it one of the oldest NFTs on the Ethereum blockchain. There is only 100 Ether Rocks in existence, and each one has a different price based on its creation order. The first Ether Rock was sold for 0.1 ETH, while the last one will cost 100 ETH.
The appeal of Ether Rock lies in its scarcity and its historical significance as an early example of NFT art. According to the project’s website, “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.”
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The sale of Ether Rock #8 was not the only record-breaking transaction in the NFT space that week. On August 10, 2021, CryptoPunk #7523, a pixelated avatar with blue skin and a medical mask, was sold for 11.8 million USD at a Sotheby’s auction. CryptoPunks are another pioneer NFT project that consists of 10,000 unique characters with different attributes and rarities.
The surge in demand and prices for NFTs reflects the growing interest and adoption of blockchain technology and digital art. NFTs are unique tokens that can represent any form of digital content, such as images, videos, music, games, and more. They can be verified and traded on decentralized platforms without intermediaries, creating new possibilities for creators and collectors.
However, not everyone is convinced that NFTs are worth the hype and the money. Some critics argue that NFTs are a bubble that will burst soon, as they have no intrinsic value or utility. Others point out the environmental impact of NFTs, as they require a lot of energy to mint and transfer on the blockchain.
Whether you are a fan or a skeptic of NFTs, there is no denying that they are making waves in the digital world. Ether Rock #8 is just one example of how far people are willing to go to own a piece of history and culture in the form of an NFT.
Avalanche begins buying of Avax Memecoins
Avalanche, the fast and scalable blockchain platform, has announced that it will start purchasing Avax Memecoins, a new class of tokens that are inspired by internet memes and viral trends. Avax Memecoins are designed to capture the attention and engagement of the online community, while also providing utility and value to the Avalanche ecosystem.
According to a press release, Avalanche will allocate a portion of its treasury funds to buy Avax Memecoins from the open market, as well as support the development and marketing of new projects in this space. The initiative aims to foster innovation and creativity among the Avalanche community, as well as attract new users and developers to the platform.
Some of the Avax Memecoins that have already launched or are in the pipeline include:
Avax Doge: A tribute to the original Dogecoin, but with faster transactions, lower fees, and smart contract capabilities on Avalanche.
Avax Shiba: A spin-off of the popular Shiba Inu token, but with a deflationary mechanism that burns a percentage of each transaction, creating scarcity and increasing demand.
Avax Pepe: A homage to the iconic Pepe the Frog meme, but with a social impact twist. A portion of each transaction is donated to environmental causes, such as planting trees or cleaning oceans.
Avax Nyan: A recreation of the famous Nyan Cat animation, but with a gamified element. Users can collect and trade different versions of Nyan Cat, each with unique attributes and rarity.
Avalanche believes that Avax Memecoins have the potential to become a significant part of the crypto economy, as they appeal to a wide and diverse audience, especially younger generations who are more familiar with internet culture and digital art. By supporting Avax Memecoins, Avalanche hopes to create a more vibrant and inclusive community, as well as showcase the versatility and scalability of its platform.