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The first NFT on Ethereum Proof-of-Stake was minted for $54,000 in gas fees


September 15, 2022 · By MATheGooner
Ethereum (ETH)

The Merge took place, and a user of the Ethereum blockchain just paid a hefty gas charge as the community looks on proudly as Ethereum makes its first steps toward becoming a proof-of-stake consensus.

The eagerly anticipated Ethereum Merge has taken place, and the community is in a tizzy. A user created the first nonfungible token (NFT) ever on the proof-of-stake (PoS) consensus just moments after the historic crypto event. 

Officially, the Merge occurred at block 15537393 on Thursday at 6:42 am UTC. Soon after, at 7:08 am UTC, the first information about the mint and sale of the NFT was released. The NFT, which serves as a time capsule of the first NFT mint to feature the recognizable panda face, was soon purchased for 36 Ether (ETH). 

Someone just paid 36 ETH in gas to mint this

The first minted NFT on proof of stake pic.twitter.com/zKUKI06EjH

— Cirrus (@CirrusNFT) September 15, 2022

Crypto Twitter erupted with retweets and criticism after the first PoS NFT’s announcement. Remarks from the public varied from “questionable decision making” to “fire.” One user even inquired as to if the Merge panda would replace the classic Bored Ape Yacht Club avatar as the new ape.

The first of many firsts for the new blockchain operating system followed the news of the first NFT mint and sale. Bloom, a Web3 lifestyle company founded by Sheldon Evans, tweeted that it has produced the first official NFT collection to be sold on the PoS network. 

A new beginning 🌸

We are officially the first NFT collection on the #Ethereum proof-of-stake chain.

Airdrop of the rest of the tokens will happen later today 😮‍💨 https://t.co/jGj0EwE1K9

— SHELDON EVANS (Hiring) (@SheldonEvans) September 15, 2022

Others in the Ethereum community are proudly displaying their first purchases made on the new system, while some proudly flaunt their first digital assets and collections.

update have made my first great purchase on this beautiful proof of stake network pic.twitter.com/cm5tOAdyVW

— vcBacked_BOB_BOYLE (@Bob_Boyle_1662) September 15, 2022

Consensys, the blockchain software firm founded by Joseph Lubin, is also enticing members of the community to complete their first PoS transaction by creating one of their own commemorative NFTs honoring the Merge. 

Big personalities like Beeple, who produced a Merge-inspired illustration of a sizable, slowly-forming Ethereum logo supported by scientists, have also been motivated to create as a result of the Merge. Additionally being artistic, Ethereum Foundation members wrote and sang a song specifically for the occasion.

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