The First Ever Post-Merge NFT Was Minted For $60K!
With the long-awaited Merge finally taking place on September 15th, excitement and hype followed suit for those in the NFT space. For one investor specifically, they wasted no time in buying the first ever NFT to have been launched on the new PoS Eth, just less than an hour after the Merge’s completion.
The NFT in question was named “The Transition” and was minted for a whopping 36.8 ETH, or around $60,000 dollars, and can be found on OpenSea.
The image itself looks similar to that of coding and bears the iconic Panda that commemorates Ethereum’s transition to Proof-of-Stake.
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
The community has had quite mixed reactions on this NFT purchase, with some complimenting the NFTs design and idea, other users, on the other hand seem to have found this purchase ironic as the buyer spent so much ETH on gas fees whereas the Merge itself is now known to not lower gas fees.
Some community members have even questioned whether Ethereum’s Panda icon may become the new “Ape” in reference to one of the biggest NFT collections in the world right now, Bored Ape Yacht Club.
Ethereum After The Merge
Initially, Ethereum received a lot of praise after its successful transition to Proof-of-Stake went incredibly smoothly without hiccups. However, since then, the blockchain has also received its fair share of criticism after The Merge due to the fact that new data has shown that large firms are responsible for most of ETH’s staking so far.