ConsenSys will distribute NFTs for free in honor of the release of Ethereum 2.0

An application for tokens will need to be submitted on the day of the network upgrade

03.09.2022 - 10:05

414

2 min

What’s new? ConsenSys, a software development company for Ethereum, will distribute its “sustainable” NFTs for free to celebrate the network’s transition from the Proof-of-Work (PoW) consensus algorithm to Proof-of-Stake (PoS). The company said it will be “one of the first sustainable NFT drops on the Ethereum mainnet.” The Regenesis collection will include several non-fungible tokens “embody the benefits of the Merge: sustainability, security, and scalability.”

Announcement by ConsenSys

How to get an NFT? All tokens from the new collection will be free. They can be minted on the day the upgrade is released, which could be as early as September 10. To get an NFT, one needs to connect MetaMask crypto wallet and apply on the ConsenSys platform, registration will be open at 14:00 UTC.

According to the company’s press release, the collection was developed in collaboration with artist Chris Skinner and animation firm Keithcity Group.

What is known about the Ethereum upgrade? Due to the algorithm change from Proof of Work (PoW) to Proof of Stake (PoS), the way coins are earned on the network will change from mining to staking. The upgrade may also result in a split into two networks, one of which will continue to run on PoW. In August, the developers published a document refuting misconceptions related to the upcoming upgrade.

Earlier, the OpenSea NFT marketplace announced that it would support “solely” Ethereum’s PoS chain. The company clarified that forked NFTs on PoW would not be reflected or supported on the marketplace.

Author: