MyEtherWallet (MEW), a wallet and interface for participating in the Ethereum blockchain, has plans to launch a new collection of NFTs called ETH Blocks that will represent particular Ethereum blocks.
Blocks are batches of transactions that include the hash of a previous block. This creates a chain of data that is known as a blockchain. Using the MEW platform, users will be able to mint ETH Blocks and own “a unique immutable” piece of the coin’s history. Users can choose to purchase blocks that have significance to them including blocks that represent a milestone in Ethereum’s history.
Not all Blocks will be available for minting. Blocks 1 to 10 will be reserved for Ethereum founders and developers. An additional thirteen blocks that will mark various pivotal moments in Ethereum history will be pre-minted and put up for auction on November 11. Proceeds from the auction will be donated to charity.
Kosala Hemachandra, the Founder and CEO of MEW, said “ETH Blocks are a representation of belonging to a broader Ethereum community, similar to how NFT avatars have become a symbol of belonging to the NFT community.”
The platform will offer a discount to early adopters. The minting price for the 100 blocks is ETH 0.01 ($47) and the next 500 blocks will be ETH 0.03 ($142). After that, all blocks will have a flat fee of ETH 0.05 ($236) for mining ETH Block NFTs.
Each NFT will be associated with an image which will be generated on the block’s data. Hemachandra explained, “We wanted to provide users the ability to recognize major milestones associated with Ethereum, and instead of owning ETH or an Ethereum-based asset, they may now obtain an immutable and gorgeous record of ownership of the entire Ethereum block.”
After minting, users will be able to put their Block NFTs on the secondary marketplace for sale. Some pre-minted ETH blocks are already available to purchase on Rarible. The popularity of NFTs has seen a surge this year. Yesterday, the Human One artwork sold for $29 million.