Connect with us


Someone paid $60k to mine the first NFT on Ethereum post-Merge



Someone paid a total of 36 ETH to “make history” by mining the first NFT on Ethereum after its transition to Proof of Stake, the biggest upgrade the Ethereum network has gone through in its history.

Immediately after the merge (The Merge), users are finding their way to commemorate the event and become part of this story.

In this particular case, a user spent 36 ETH, around $60K or R$314K at the current rate, to mint the first non-fungible token (NTF) on the PoS-based Ethereum network.

This is the NFT in question:

Coined at the height of block 15537394, the image represents the face of a panda and is called “The Transition,” or “The Transition” in a free translation into Portuguese.

There is a certain irony in the fact that someone paid so much to mine an NFT, but it’s also worth noting that The Merge itself doesn’t do much to lower gas rates on the Ethereum network, which is one of the most popular misconceptions. about the event.

The merger has changed the general consensus algorithm and does not expand network capacity, so it will not significantly reduce gas rates. However, there are several scalability solutions that will be deployed at a later stage to address this particular challenge.

News Source