MyEtherWallet, or MEW, launched its first NFT collection called ETH Blocks on Thursday, which encodes individual blocks on the Ethereum blockchain. The unique image associated with the ETH block is generated based on the data in the block. These NFTs are only available to MEW users through the MyEtherWallet website.
According to the company, some blocks have already been claimed. The founders of Ethereum named the first block reduction 1-10. There are also 13 ETH blocks that represent the history of Ethereum, such as milestones, forks and updates to the Ethereum blockchain that were offered for a month-long auction – proceeds will be donated to organizations like The Skid Row Trust, Wikipedia, Girls Who Code and NPR, among others.
Cointelegraph spoke to Kosala Hemachandra, CEO of MEW, to learn more about the Ethereum wallet’s initial decision to accept NFT and innovate the Ethereum blockchain:
“MEW is committed to making history by introducing NFTs to help newbies and experienced users discover a new path to Ethereum in a trusted environment.”
He further stated that the project aims to provide full access to everything the Ethereum blockchain has to offer. With most of the NFT marketplaces now based on the Ethereum blockchain, he told us that it “makes sense” to attract Ethereum users of all skill levels by allowing them to mint and own unique pieces of the blockchain themselves.
When asked what he sees as the value driver for owning an ETH block, Hemachandra told Cointelegraph:
“The amazing thing about ETH blocks is that they can be sentimental and meaningful or an educational tool. user [can] Control the ETH blocks the way you want and be as creative as possible about how they share them and what moments they shape on the blockchain. ”
Hemachandra added: While ETH blocks can be emotional for users, the history of Ethereum and “every single upgrade and upgrade has a special place” in the hearts of the MEW team, Hemachandra continued. With both the Ethereum blockchain and MyEtherWallet launched in 2015, Hemachandra noted that MEW has made innovation a top priority for the Ethereum community:
“We believe that [Ethereum] could become the undeniably best blockchain for Web3. And now, with ETH Blocks, we can all remember how we got there when we got there! ”
Earlier this year, Hemachandra wrote an article for Cointelegraph on the value beyond the hype of the NFT. And with the announcement of the ETH block, he and the MEW team hope to demonstrate their trust in the potential of Ethereum and the stamina of the NFT.