Justin Sun Buys NFT of a Rock for More Than Half a Million Dollars

Posted by Neal Freyman, morningbrew.com

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Actually, 31-year-old crypto mogul Justin Sun spent $611,710 to buy an EtherRock NFT yesterday. And he can’t even take it home and pet it. Because it’s literally just a Clipart of a rock.

What’s going on: EtherRocks are one of the latest crazes in the world of NFTs (non-fungible tokens), which allow people to acquire ownership of digital assets using blockchain technology.

So why would you want to own one? The same reason you’d buy a rare baseball card—the originals are scarce and some people believe they have tremendous value. EtherRock was one of the earliest NFT projects from way back in 2017…read more.