Clip art of a rock sold for 400 ether (about $1.3 million) on 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. 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… would you pay $1.3 million for a JPEG of a cartoon rock?
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About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.