Techspace - Say goodbye to the old Proof-of-Work (PoW) Ethereum! Because The Merge that has been awaited by everyone was finally launched successfully! Or in other words, the Ethereum’s PoW network has been blocked, 100% moved to the Proof-of-Stake (PoS) network. Now people can mint their ETH in the new Ethereum PoS server.
But before the Ethereum network was blocked, the last NFT was successfully crafted in the block. One last Ethereum PoW transaction came from VanityBlocks NFT.
The NFT minting costs 30ETH, or around $50,000 to mint the last NFT from the Ethereum last version before the upgrade. The funds were collected from the investors, and minted in the early morning of Thursday. The minting price was the same as the maximum block price or block gas limit of Ethereum, which means that VanityBlocks booked the whole block to mint its NFT in Ethereum's last block. The series number of a block taken by the NFT creator is 15537393.
The last eth pow block is a vanity block nft.— Elie Steinbock 🔮 ERC721R (@elie2222) September 15, 2022
The entire block contains a single transaction that is used to mint an NFT:https://t.co/kZuQVwFn70
The tx cost 30eth in gas which is $50,000.https://t.co/kZuQVwFn70
And now, the last Ethereum’s NFT is currently on bid in the secondary marketplace, OpenSea, with the current bidding price at 20 WETH, equal to $28,661.
Surprisingly, the last Ethereum’s block gives its last message, saying, ‘You make the commitment and nature will respond to that commitment by removing impossible obstacles. Dream the impossible dream and the world will not grind you under, it will lift you up. This is the trick.” when the creator mints their NFT inside the blockchain.
MonkeyOnTheLoose, Founder of VanityBlocks said to Decrypt that he requested quotes from Vitalik Buterin, but Ethereum's co-Founder didn’t give any reply even though sometimes he replied on MonkeyOnTheLoose’s message
Last Thursday was a greatly notable day for Ethereum, and the whole blockchain history. With this upgrade called “The Merge”, Ethereum now works using the PoS, not PoW anymore. With The Merge, Ethereum hopes that this upgrade will solve any problem surfaced from its last version.
According to its website, VanityBlocks is an ordinary NFTs that are minted within a whole block on blockchain. In other words, VanityBlocks provide one minted NFT from a whole block, without any other transaction inside the block. This method makes the NFT holder hold a whole block in the blockchain.
Because the minting process cost a lot, VanityBlocks only mint in a block with unique and pretty numbers like 14114114, 14360063, 14401440, etc.
This project which was started last year aimed to create 50-100 blocks for its first collection, followed by a total of 200 blocks in a year. However, the founder said to Decrypt that the project was able to get 17 blocks before the 15537393-block minted.
The case of Ethereum last block is different from other VanityBlocks’ previous projects. IThe company said that the opportunity to get the 15537393-block was only 15%. It also needs to create a customized code and collaborate with the big miners to get the exact block it wants. VanityBlocks added that its collaboration with bloXroute is the most important one, which is the collaborator lets them use its system and raise a fund through it.
Besides, VanityBlocks’ collections at OpenSea are actually the pre-reveal images, and now the team is looking for an artist who can turn those images into magnificent metaverse pieces. MonkeyOnTheLoose is currently focusing its eyes in Pak or mbsjq, the two of well-known NFT artists to work with the VanityBlocks’ NFTs.