MEW introduces ETH block NFTs to honor the history of Ethereum

Source: Adobe / onnarong

MyEtherWallet (MEW), a wallet and interface for interacting with the Ethereum (ETH) blockchain, aims to launch a new collection of non-fungible tokens (NFTs) called ETH blocks to denote certain Ethereum -Blocks to represent.

Blocks are batches of transactions that also contain the hash of a previous block, creating a data chain known as a blockchain.

With MEW’s platform, users should be able to mint ETH blocks and own “a unique, immutable piece” of Ethereum history. Users can choose to emboss blocks that have a special meaning to them, such as: B. involve a significant transaction or represent a milestone in the history of Ethereum.

However, not all blocks will be available for embossing. Blocks 1 through 10 will be reserved for Ethereum founders and developers, and a further thirteen blocks, which will mark “crucial moments in Ethereum’s history, will be pre-minted and put up for auction on November 11”. The proceeds will be donated to charitable organizations.

“ETH blocks represent belonging to a broader Ethereum community, much like NFT avatars have become a symbol of belonging to the NFT community,” said Kosala Hemachandra, founder and CEO of MEW.

In the meantime, the platform would give early adopters a discount. The minting price for the first 100 blocks is ETH 0.01 (USD 47), the next 500 blocks ETH 0.03 (USD 142) and then a flat fee of ETH 0.05 (USD 236) for minting ETH block NFTs.

Each of these NFTs is assigned an image that is generated based on the data of this block.

“We wanted to give users the ability to see key Ethereum-related milestones, and instead of owning ETH or an Ethereum-based asset, they can now get immutable and beautiful proof of ownership of the entire Ethereum block,” said Hemachandra .

Once minted, users can put their block NFTs up for sale on the secondary marketplaces. Some of the pre-minted ETH blocks are already available on Rarible, an NFT marketplace that has passed the minting fee for NFTs on to buyers.

The popularity of NFTs has risen massively this year. Just yesterday, for example, Beeple’s “HUMAN ONE” artwork, which is a statue accompanied by an NFT, was sold for around USD 29 million.

____

Learn more:
– CryptoPunk falsely sells with over 99% discount, NFT sales plummet again
– An interview: The breakdown and future plans of MyEtherWallet

– Enable expected NFTs to become mainstream by 2022
– Ethereum Name Service Token, ENS, increases on the first day of trading

– Ethereum fees skyrocketed by DEX trading as the Optimism upgrade draws nearer
– NFT-Backed Credit Market Rises, USD 1.4M with an NFT raised as collateral

Comments are closed.