First post-Merge Ethereum NFT minted for $60K


Less than an hour after Ethereum (ETH) completed the Merge; a user spent 36 ETH — roughly $60,000 — to mint the first NFT on the proof-of-stake (PoS) network.

The NFT was minted at a Block height of 15537394 and is tagged “The Transition.” The NFT is part of a panda face collection commemorating Ethereum’s transition to PoS. The collection can be found on OpenSea.

How To Get Free Crypto  

The collection’s floor price is 0.6 ETH.

While some users said the Merge had changed nothing about the network’s high gas fees, the Ethereum Foundation previously clarified that the Merge would not reduce gas fees, nor would it make transactions faster.

According to the Foundation, the Merge is a “change of consensus mechanism” and “not an expansion of network capacity.”

However, other infrastructural developments and scaling solutions deployed post-merge will eventually help reduce the network fees.

Meanwhile, Ethereum’s migration to PoS would drastically reduce its energy consumption by up to 99%, thereby drawing more institutional investors who had shied away from the asset due to environmental concerns. data also showed that Ethereum’s supply has been deflationary since the Merge went live. According to the tracker, around 180 ETH has left the network since the Merge.

Posted In: Ethereum, NFTs

Go to Source
Author: Oluwapelumi Adejumo

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.