Users will be able to mint ETH Blocks on the MEW platform and possess “a unique immutable” piece of the coin’s history. Users might opt to buy blocks that are meaningful to them, such as blocks that signify a watershed moment in Ethereum’s history. Some Blocks will not be available for minting.
Blocks 1–10 will be set aside for Ethereum founders and developers. On November 11, an additional thirteen blocks was pre-minted and auctioned to commemorate several significant milestones in Ethereum history. The auction proceeds will be donated to charity.
“ETH Blocks are a sign of belonging to a bigger Ethereum community, similar to how NFT avatars have become a symbol of belonging to the NFT community,” said Kosala Hemachandra, Founder and CEO of MEW.
Early adopters will receive a discount on the platform. The minting fee for the first 100 blocks is ETH 0.01 ($47), while the minting price for the next 500 blocks is ETH 0.03 ($142). Following that, all blocks will be subject to a flat cost of ETH 0.05 ($236) for mining ETH Block NFTs. Each NFT will be connected with an image based on the data in the block.
“We wanted to provide consumers with the ability to commemorate key milestones related with Ethereum, and instead of owning ETH or an Ethereum-based asset, they can now receive an immutable and beautiful record of ownership of the entire Ethereum block,” Hemachandra explained.
Users will be able to sell their Block NFTs on the secondary market after they have been minted. Some pre-minted ETH blocks are already for sale on Rarible. This year has seen a boom in the popularity of NFTs. The Human One artwork was sold for $29 million yesterday.