MyEtherWallet Unveils Feature to Allow Users to Mint Ethereum Blocks as NFTs

Popular online Ethereum wallet MyEtherWallet has announced its foray into the Non Fungible Token (NFT) sector. The website has unveiled its first collection of NFTs and they will be exclusively available for users on the platform. It also claims that a first batch of these digital collectibles has already been snapped up by buyers.

 

MyEtherWallet Tokenizes Ethereum Transactions

Ethereum is the second largest cryptocurrency by market capitalization and occupies a special place in the cryptoverse. For quite some time, Ethereum transactions are being seen as a viable NFT option for users. Now MyEtherWallet is looking to capitalize on this. In the latest collection by the company, 13 historic transactions are available as NFTs. These important moments include some of the most iconic moments in the history of the blockchain.

According to the CEO of the company Hosala Hemachandra in a recent interview:

“MEW is dedicated to making history by bringing NFTs to help newcomers and experienced users explore a new way of Ethereum in a trusted environment.”

The CEO also touched on various other matters including the role of the network in the NFT sector, including its usage in minting and distribution. He also spoke in length about the history of the blockchain network, including its sentimental value. The crypto sector as a whole is not that old and still there are historic moments that are already iconic going into the future.

Hemachandra said:

“The amazing thing about ETH Blocks is that they can be sentimental and meaningful or an educational tool. Users [can] take control of the ETH Blocks in the way they want to and be as creative as they can be with how they share them and which moment on the blockchain they mint.”

Ethereum is one of the most progressive blockchains around and it has been since its launch back in 2016. While previously it was based on a more energy-intensive system, it is now completing a move to a more environment-friendly Proof of Stake (PoS) system. It also enacted a recent update that has now made it effectively a deflationary asset over time.

 

Ethereum at the Forefront

All in all, Ethereum is a dynamic blockchain and in many ways it sets the tone for further progressive advancement in the crypto sector. It has a history of its own and now with MyEtherWallet’s allowing of ETH NFTs, it has opened a new avenue for the sector. However, it is not the only Ethereum wallet around and it will definitely face competition in the near future from other wallets, that might make some of its NFTs worth less over time as no application can claim the rights to a ETH transaction. Still, this is an interesting proposition that will keep things interesting over time.

ETH is currently trading at around $4.53k after recording new all time high of $4.8k earlier in the week. A veteran trader believes it can rise to $10k by the end of this year.

 

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Talha Dar

Talha Dar

Cryptocurrency and blockchain enthusiast. Working on free economy and borderless solution side of things. Live and breathe crypto!