Technically Speaking: “Pet Rocks” & Other Signs Of A Rich Market

“Pet Rocks” first appeared in the mid-70s as a novelty item. Just recently, digital NFT’s of “pet rocks” sold for over $100,000. To wit:

“Rarely do they create waves for investing in something as dead as a rock. Well, they do now. A digital painting of a Grey-coloured rock, part of a pet project from 2017, has sold for an outrageously high price. Its non-fungible token (NFT) version was sold for ETH 33 — equivalent to $100,000 (roughly Rs 75 lakhs). These rocks are one of the first-ever NFT collectible projects on the Ethereum blockchain. Only 100 such “pet rocks” were created.”

Pet Rocks, Technically Speaking: “Pet Rocks” & Other Signs Of A Rich Market

As I noted on my Twitter feed:

“If you don’t know what a ‘pet rock’ is, you are probably too young to have experienced a real bear market.”

Pet Rocks, Technically Speaking: “Pet Rocks” & Other Signs Of A Rich Market

Yes, people really did buy these and as Peter Atwater noted: