Ethereum – The first NFT created after The Merge cost 36.8 ETH in transaction fees

As soon as The merge phase has been validated, unexpected consequences arise and are scrutinized by the entire community. This is to determine from the first seconds if this merger will in fact bring the promised benefits. Although it was recently revealed that the planned reduction in transaction fees may not see the expected reduction. As proof, this in the first place NFT of its Proof of Stake blockchain, the creation of which required the payment of an invoice of 36.8 ETH. Ouch!

The merger of the Ethereum network towards the Proof of Stake is effective from this morning. And the first consequences are already looming, while – structurally speaking – everything seems to go smoothly. Indeed, a validator has already been penalized following the implementation of the “slashing” principle. The latter should identify nodes with problematic behavior in order to sanction them. At the same time, the first NFT of this new blockchain has just been officially created. And the transaction fee bill is (very) high …

Ethereum PoS – 36.8 ETH for the 1st NFT

It’s not even pretty, not necessarily useful, but it has the distinction of being iconic. Indeed, Ethereum’s first Proof of Stake blockchain NFT was created. This was just 17 seconds after The Merge was deployed. This is the collection ” The transition“. And the image represents a panda – the official emblem of this merger – accompanied by historical quotes, such as the difficulty level at the time of this mutation, the block number and a timestamp. All printed in 100 identical numbered copies and already positioned on the Opensea platform. With a maximum supply of 0.6 ETH at the time of writing.

But the other peculiarity of this NFT is the exorbitant price its creator had to pay in transaction fees. Because in order to create this collection, the brand new Ethereum validator network requested the payment of 36.8 ETH, just over $ 60,600 at the current price of the ETH cryptocurrency. All this to be able to view it on its brand new page Twitter : “I had the first transaction”, without further explanation.

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It is therefore a confirmed fact, the transaction fees of the new Ethereum network will not necessarily be lower compared to its previous version. And smart kids will continue to ride trends to try and take advantage of every opportunity that presents itself. Knowing thatyou will need to sell each copy of this collection at a minimum price of 0.36 ETH for this operation to be profitable. That is already almost half of the highest offer at the moment. Things seem to get off to a good start!

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