MyEtherWallet or MEW launched its first non-fungible token collection (NFT) called ETH Blocks on Thursday, which tokenizes individual blocks on the Ethereum blockchain. Based on the data of the block, unique images are generated that are linked to ETH blocks. These NFTs are only available to MEW users via the MyEtherWallet website.
According to the company, several blocks have already been claimed. The founders of Ethereum named the first dibs on blocks one through 10. There are also 13 ETH blocks that represent Ethereum’s history – such as major milestones, forks, and updates to the blockchain – that were up for a month-long auction of the Proceeds from donated to organizations such as The Skid Row Housing Trust, Wikipedia, Girls Who Code and NPR.
Cointelegraph spoke to Kosala Hemachandra, CEO of MEW, to learn more about the original Ethereum wallet’s decision to adopt NFTs and innovate on the Ethereum blockchain:
“MEW is committed to making history by offering NFTs to help newbies and experienced users explore a new path of Ethereum in a trusted environment.”
He further stated that the project aims to provide full access to everything the Ethereum blockchain has to offer. Since most of the NFT markets are currently built on the Ethereum blockchain, he told us that it “makes sense” to involve Ethereum users at all skill levels by allowing them to mint and own unique pieces of the blockchain themselves.
When asked what he thinks is the value driver of 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] Take control of the ETH blocks as you like and be as creative as possible, how they share them and what moment on the blockchain they shape. “
As sentimental as ETH blocks may be for users, the history of Ethereum and “every single fork and upgrade have a special place” in the hearts of the MEW team too, added Hemachandra. With both the Ethereum blockchain and MyEtherWallet launched in 2015, Hemachandra noted that MEW made it a priority to be at the forefront of innovation for the Ethereum community:
“We believe that [Ethereum] can grow to be the undeniably best blockchain for Web3. And now, with ETH blocks, we can all remember how we got there! “
Earlier this year, Hemachandra wrote an article for Cointelegraph on the beyond-the-hype value of NFTs. And with the announcement of ETH Blocks, he and the MEW team hope to demonstrate their belief in the potential of Ethereum and the stamina of NFTs.