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MyEtherWallet wants Ethereum users to have the opportunity to own a piece of blockchain history.
Do you have a favourite Ethereum-related event? You can now purchase it.
MyEtherWallet (MEW) has launched ETH Blocks, a new feature that allows MEW users to mint NFTs directly within the app.
MyEtherWallet says users will be able to mint blocks of transactions from Ethereum that have historical or personal significance. But not so fast, collectors: MEW founder and CEO Kosala Hemachandra told Decrypt that 13 blocks of historical importance to Ethereum—including the whitepaper release in 2013, the first Ether sale in 2014, and the DAO fork in 2016—have already been minted and will be auctioned off for charity at an auction on December 11. The auction proceeds will go to nonprofits, including The Skid Row Trust, Wikipedia, Girls Who Code, and NPR.
“We wanted to provide users the ability to recognize major milestones associated with Ethereum,” Hemachandra said in a press release. “Instead of owning ETH or an Ethereum-based asset, they may now obtain an immutable and gorgeous record of ownership of the entire Ethereum block.”
MyEtherWallet says the first 100 ETH Blocks will be minted at the cost of 0.01 ETH ($46.26) each for the launch. The next 500 will increase in price to 0.03 ETH, and all following ETH Blocks will be minted at 0.05 ETH for each.
MEW was established in 2015, shortly after the Ethereum network became live. According to data from the Blockchain Council’s research site, it had 1.3 million monthly users as of February 2021. According to Hemachandra, that number has risen to over 2 million in the last ten months.
Users of MyEtherWallet could only mint NFTs by connecting the wallet to a marketplace like Rarible until now. Only Ethereum Blocks will be included in the first NFT drop. MEW, on the other hand, intends to integrate more projects in the future, effectively turning the wallet into its own NFT ecosystem.
“MEW was founded on the principle of empowering users to easily access Ethereum and everything that it offers,” Hemachandra said. “It is a perfect fit for us to embrace NFTs and enable users of all skill levels to get involved. Our users are already accessing their wallets every day with MEW and it makes sense to bring NFTs to where crypto fans already are.”
When asked if MyEtherWallet can scale quickly enough to meet the increased demand, Hemachandra told Decrypt he is confident the team can handle anything the launch throws their way.
“MEW has been around for almost as long as Ethereum through all its leaps, bounds, and innovations,” he said. “We’ve been through the ICO craze and yield farming hype, and have taken everything in stride.”