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Ethereum’s First NFT Mint At A Cost Of $60k Fees After The Merge

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Sep 15, 2022

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September 15, the much-awaited day in the crypto space witnessed the Ethereum network transform from proof-of-work (PoW) to proof-of-stake (PoS). This marked a sense of pleasure among ETH holders. However, the emotion took a turn when a user paid 36 ETH which is worth $60k to mint the first NFT On the Ethereum network after ETH Merge. The user decided to rejoice in the proof-of-stake transition by minting the NFT that is named The Transition with a block height of 15537394 and a panda face over it. It’s important to note that the Merge has nothing to do with the raising gas fees on the Ethereum network

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