MyEtherWallet lets users mint Ethereum blocks as NFTs

MyEtherWallet lets users mint Ethereum blocks as NFTs

 MyEtherWallet (MEW) has launched its first nonfungible token (NFT) collection tagged as ETH Blocks on November 11.

ETH Blocks tokenizes individual blocks over the Ethereum blockchain. Unique images that are associated with ETH Blocks get generated based on the block’s data. The NFTs are available exclusively to all its MEW users via the MyEtherWallet website.

According to reports, a number of blocks have already been claimed. Ethereum’s founders have called the first dibs on blocks one through 10. Also, there are 13 ETH Blocks that represent the history of Ethereum, including major milestones, forks and updates to the blockchain. All these have been put up for a month-long auction, and all the proceeds would be donated to organizations, namely The Skid Row Housing Trust, Girls Who Code, Wikipedia and NPR, among several others.

Speaking about the original Ethereum wallet’s decision of embracing NFTs and blockchain, MEW’s CEO Kosala Hemachandra has said that it is “dedicated to making history” by letting NFTs help newcomers and experienced users explore a multitude of new ways of Ethereum “in a trusted environment.”

He then went on explaining that the project is aimed at providing complete access to all that the Ethereum blockchain has to offer. Since most of the current NFT markets are being built on the Ethereum blockchain, Hemachandra said that it “makes sense” involving Ethereum users at all stages of skill levels by allowing them to mint as well as own unique pieces of the blockchain itself.

Speaking on what he considers to be the value driver behind owning ETH Blocks, Hemachandra said that the amazing thing about ETH Blocks is that “they can be sentimental and meaningful or an educational tool.” 

Users would be able to take control of the ETH Blocks in their own specific way they want to and they can also be as creative as they can with how they share them and exactly which moment on the blockchain they mint.

Hemachandra also said that as much as ETH Blocks may be “sentimental” for users, Ethereum’s historical timeline and “every individual fork and upgrade hold a special place” in the MEW team’s hearts. 

As both the Ethereum blockchain and MyEtherWallet were established in 2015, Hemachandra noted that MEW’s top priority is to be at the forefront of innovation for the Ethereum community. He stated that the team believes that Ethereum can grow into “the indisputable best blockchain” where Web3 is concerned. And now, with the coming of ETH Blocks, all users “can remember how we got there when we arrive!”

Earlier in 2021, Hemachandra had written an article for Cointelegraph about the value beyond the hype of NFTs. He added that with the latest announcement of ETH Blocks, the MEW team hopes to get their conviction visualized in the potential of Ethereum and the long-staying power of NFTs.