The first NFT minted on the new Ethereum network occurred just 17 seconds after The Merge was activated, at block #15.537.393.
The farewell of Proof of Work and the arrival of Proof of Stake to Ethereum were marked on the blockchain through NFT tokens.
The VanityBlocks company occupied the last block of the Ethereum network in PoW to mint a non-fungible token (NFT) as a farewell to this consensus protocol, which for more than 6 years guaranteed the security and stability of the second most important blockchain in the crypto industry.
Also, to welcome Ethereum's new consensus protocol, PoS, a user minted pandaETH as an NFT, just 17 seconds after the network's The Merge migration was completed, The Block reported.
More than 60 ETH to mint “The Last PoW Block” and “The Transition”
The minting cost of both NFTs was quite high. VanityBlocks paid 31 ETH fees (about $45.800 dollars, currently) to mint the “The Last PoW Block”, as the NFT token minted in the latest PoW block of the Ethereum network was named.
This last block contained only one transaction that was used to create the NFT. VanityBlocks made sure to add an inspiring message that reflects the hard work put in by the developers to reach their biggest milestone yet, of making Ethereum a more efficient and environmentally friendly network.
On the other hand, the first NFT of the Ethereum network in PoS, called “The Transition” demanded fees of 36,8 ETH (about $54.500 USD, currently). In addition to marking a historic day for the entire blockchain ecosystem, this NFT contains the blockchain data at the time of the consensus protocol change, such as the network difficulty level and a timestamp.
The Bloom project claimed credit for minting “The Transition” and reported on the creation of the first complete collection of NFTs on Ethereum’s new environmentally sustainable blockchain.
Following the minting of this first NFT on the PoS network, other projects have invited their users to make their first transactions on the new PoS network.
Continue reading: The Merge has been successfully completed and Ethereum is now Proof-of-Stake
