Little Jack Ma explains why he spent half a million dollars on a photo of a rock

 Entrepreneur 9x thinks the digital rock EtherRock has an equivalent value as a Picasso painting from 1932.

Last month, Justin Sun, who has been likened to a young version of Jack Ma, bought an EtherRock for $500,000. Blockchain founder TRON believes that this digital art piece resembles a painting by Picasso in 1932.

Sharing during a remote interview with Bloomberg Quicktake on September 4, Sun explained why he spent $500,000 to shop for a painting of the rock.
The amount of cash spent now "doesn't matter in the least ," he said because digital art will become valuable over time, like Picasso's paintings.

"Like Picasso in 1932, it represents the start of numerous works. i feel all of the digital collection in 2017 represents the start of NFT," Justin Sun admitted. determined.

According to Sun, for those outside of the crypto industry, most of them are difficult to know , but he believes that NFTs will become even more valuable within the future, because the field continues to grow.

Justin Sun argues that the bulk of NFTs are created transparently, which makes it difficult for founders and whales to possess a plus over the tiny trader. At launch, collectibles like EtherRock started at around $100.

The young blockchain mogul says there are many good investment opportunities within the cryptocurrency industry, even for the typical trader. Therefore, it's important to remain at the forefront.

According to Cryptopotato, EtherRock is one of the oldest collections of NFTs (non-replicable digital certificates). It started gaining traction earlier this year.

This NFT, launched in December 2017, consists of 100 jpeg images, containing a clipart-style rock, encoded on the Ethereum blockchain.

Shortly after its appearance, EtherRock was sold for 0.0999 ETH, or about 300 USD at the time. However, four years later, these digital art pieces are valued at between $134,240 and $3 million.