MyEtherWallet, or MEW, on Thursday launched the first set of non-fungible tokens (NFTs) called ETH Blocks, which stand for individual blocks on the Ethereum blockchain. The unique images associated with the ETH blocks are generated from the block data. These NFTs are available exclusively to MEW users through the MyEtherWallet website.
According to the company, a number of blocks have already been announced. The founders of Ethereum have named the first bids on blocks 1 through 10. There are also 13 ETH blocks representing Ethereum’s history — such as landmarks, forks, and blockchain updates — that have been auctioned for a month, the proceeds of which will be to be donated to organizations like The Skid Row Housing Trust and Wikipedia, Girls Who Code, and NPR.
Cointelegraph spoke with MEW CEO Kosala Himachandra to learn more about the Ethereum native wallet’s decision to leverage the NFT and innovate in the Ethereum blockchain:
“MEW is committed to making history by offering NFTs to help both novice and experienced users explore a new way to use Ethereum in a trusted environment.”
He went on to explain that the project aims to provide full access to everything the Ethereum blockchain has to offer. With most NFT markets currently built on the Ethereum blockchain, he told us it “makes sense” to attract Ethereum users of all skill levels, allowing them to create and own unique pieces of the blockchain itself.
When asked what he considers a factor in the cost of ownership of an ETH block, Hemachandra told Cointelegraph:
“The great thing about ETH blocks is that they can be emotional and meaningful, or they can be a learning tool. Users can [can] control ETH blocks however they want and be as creative as possible in how and at what point they are shared in the blockchain that they have.” create it.”
As emotional as ETH blocks can be for users, the history of Ethereum and “every fork and update also have a special place” in the hearts of the MEW team, Hemachandra added. Since the founding of both the Ethereum blockchain and MyEtherWallet in 2015, Hemachandra noted that MEW considers MEW to be at the forefront of innovation for the Ethereum community:
“We believe [Ethereum] can grow into the best blockchain for Web3. 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 about the value beyond NFT hype. With the announcement of the ETH block, he and the MEW team hope to demonstrate their belief in the potential of Ethereum and the reliability of the NFT.