Fee for the issue of the first NFT on Ethereum on PoS was $58 000

A non-fungible token was created at block 15 537 394 at 06:42 UTC

15.09.2022 - 11:10

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What’s new? An unknown user paid a fee of 36 ETH (about $57 852 at the Binance rate at the time of the transaction) to issue the first non-fungible token (NFT) after The Merge upgrade. Information about the transaction is contained on the Etherscan explorer.

Transaction on Etherscan

What is known about the upgrade? The Ethereum network made the transition from the Proof-of-Work (PoW) consensus algorithm to Proof-of-Stake (PoS) on September 15 around 06:40 UTC. The network’s co-founder Vitalik Buterin personally confirmed the successful completion of the upgrade and congratulated everyone involved. The Merge was launched at block 15 537 432.

What does NFT look like? The first ever NFT on Ethereum’s PoS algorithm is an image of a panda and is called The Transition. The token was issued at block 15 537 394 at 06:42:59 UTC.

Earlier it became known that ConsenSys, a software development company for Ethereum, will distribute its “sustainable” NFTs for free to celebrate the network’s transition to PoS. The company said it would 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.”

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