A commemorative NFT project celebrating Ethereum’s 10th anniversary, known as the Ethereum Torch, has officially concluded its minting phase. This community-driven initiative resulted in the creation of more than 780,000 Ethereum Torch NFTs, showcasing substantial engagement across the ecosystem.
These NFTs, symbolizing the spirit of Ethereum, will be burned on July 30th. The planned burning process involves sending all minted tokens to an inaccessible address, serving as a permanent and symbolic conclusion to the event while preserving its historical record.
The core of the project featured a unique ‘passing the torch’ mechanism. This design embodied Ethereum’s foundational principle of decentralization, actively encouraging broad community participation and collaboration among users. Data confirms that participation was extensive, with over 660,000 unique Ethereum wallets involved in minting the NFTs.
Low gas fees throughout the event period played a crucial role in enabling diverse participation. This accessibility underscores Ethereum’s ongoing commitment to fostering inclusivity within its growing network and community.