On Thursday, MyEtherWallet, or MEW, unveiled ETH Blocks, its first nonfungible token (NFT) collection that tokenizes specific blocks on the Ethereum blockchain. Based on the block’s data, unique pictures for ETH Blocks are available. The MyEtherWallet website is the only place where MEW users may buy these NFTs.
According to the corporation, some of the blocks have already been claimed. Blocks one through ten were given to Ethereum’s creators first. The history of Ethereum also represented through 13 ETH Blocks. Major blockchain milestones, forks, and upgrades have been placed up for sale for a month, with earnings going to groups including The Skid Row Housing Trust, Wikipedia, Girls Who Code, and NPR.
MEW’s CEO, Kosala Hemachandra, discussed the company’s choice to adopt NFTs and develop on the Ethereum blockchain:
“MEW adheres full commitment to making history by introducing NFTs to assist newbies and experienced users alike in exploring a new way of Ethereum in a secure environment.”
He went on to say that the project’s goal is to provide everyone access to all the Ethereum blockchain has to offer. Because the majority of NFT markets are now based on the Ethereum blockchain, he believes it “makes sense” to incorporate Ethereum users of all skill levels by allowing them to mint and control unique chunks of the network itself.
When asked what he thinks the most valuable aspect of holding an ETH Block is, Hemachandra said:
“ETH Blocks are unique in that they may be both nostalgic and informative. Users may be as creative as they want with how they share ETH Blocks. And when they mint them on the blockchain.”
“Every individual fork and update”
As nostalgic as ETH Blocks may be for users, Hemachandra stated that Ethereum’s history, as well as “every individual fork and update”, have a particular place in the MEW team’s hearts. MEW has made it a point to remain at the forefront of innovation for the Ethereum community. Since both the Ethereum blockchain and MyEtherWallet were available in 2015, according to Hemachandra:
“We believe Ethereum has the potential to become the undisputed best Web3 blockchain”. And now, thanks to ETH Blocks, we’ll be able to recall how we got there when we get there!”
Hemachandra published an essay earlier this year discussing the benefits of NFTs beyond the hype. With the launch of ETH Blocks, he and the MEW team seek to show their belief in Ethereum’s promise. As well, the long-term viability of NFTs.