Ethereum community wastes no time minting PoS NFTs right after the Merge
The Merge happened, and now the community watches like proud parents as Ethereum takes its first steps as a proof-of-stake consensus. The long-awaited Ethereum Merge has happened, and the community can’t sit still. Moments after the historic crypto event, one user minted the first ever nonfungible token (NFT) on the proof-of-stake (PoS) consensus.Officially the Merge took place on Sept. 15 at 06:42:42 UTC at block 15537393. The first announcement of the mint and sale of the NFT came shortly after at 07:08 UTC.The NFT, which is a time capsule of the moment of the first NFT mint and the....
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Vitalik Buterin, the co-founder of Ethereum, tweeted a message to thank everyone that helped make the Merge happen. As the Merge successfully shifted the Ethereum network to proof-of-stake (PoS), the ETH community seized the opportunity to celebrate by dropping artworks and music inspired by Ethereum. Nonfungible token (NFT) artist Beeple, the creator of one of the most expensive NFTs ever sold, celebrated the Ethereum Merge by publishing an illustration that shows a massive Ethereum logo that seemed to slowly form, assisted by what looks like scientists. Another community member who makes....
The NFT marketplace said that while they do not speculate on forks, the team will only support NFTs on the proof-of-stake chain. As the date for the Ethereum Merge approaches, nonfungible token (NFT) marketplace OpenSea has announced that it will focus on supporting only the NFTs that are on the upgraded proof-of-stake (PoS) blockchain. In an announcement on Twitter, the NFT marketplace said that while their team is not speculating on any potential forks, as it clarified that if there are forked NFTs, they will not reflect on OpenSea as the platform will only support the upgraded chain.....
Ethereum was formerly developed as a PoW blockchain. However, it’s been planning to transition to PoS through an upgrade tagged the merge. The process, which has different phases, is almost getting to completion as the date for the merge draws closer. The target is September 15 and would finally merge the Ethereum mainnet and the […]
The Ethereum Merge has been successfully completed and the network has been operating on a proof of stake mechanism for about a week now. The success of the upgrade has been lauded by many in the community who have praised the resourcefulness and the innovation of the Ethereum developers. However, it seems the more time […]
Over 1 million unique wallet addresses were involved in the minting process, signaling that nonfungible token market activity remained strong. According to new market research published by blockchain data firm Nansen, crypto users spent 963,227 Ether (ETH), worth $2.7 billion, minting nonfungible tokens (NFTs) on the Ethereum blockchain in the first half of 2022. An overwhelming majority of minting took place on OpenSea.io. Minting occurred across 1.088 million unique wallet addresses on Ethereum during this period, Nansen said. In comparison, about $107 million worth of NFTs were minted....