The official Ethereum account has just launched the "The Torch" NFT to honor individuals and values that contributed to the development of Ethereum throughout its first decade.
This is an iconic NFT, transferred between wallets and will be destroyed during the 10th anniversary celebration of Ethereum. Users can mint this commemorative NFT starting from July 30.
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Ethereum launches the "The Torch" NFT to commemorate its 10th anniversary.
"The Torch" is transferred between wallets and will be destroyed to honor the value of community development.
People can mint this commemorative NFT starting from July 30.
What is the "The Torch" NFT and its significance in the Ethereum community?
"The Torch" is a special NFT issued by the official Ethereum account to honor significant contributions in the first 10 years of platform development. According to Mr. Vitalik Buterin, co-founder of Ethereum, the creation of this NFT aims to acknowledge historical value and promote unity within the cryptocurrency community.
This is not just an NFT, but also symbolizes continuity and collective contributions within the Ethereum ecosystem, a testament to the community's role in the sustainable development of Blockchain.
"The NFT 'The Torch' is not just a digital symbol but also represents the flame of creativity passed down from generation to generation within the Ethereum ecosystem."
Vitalik Buterin, co-founder of Ethereum, 2024
Why is "The Torch" transferred between wallets and then destroyed?
The rotation of "The Torch" between wallets aims to recognize the role of influential individuals and organizations in the Ethereum community. This action enhances the value of experience, expertise, and trust in the cryptocurrency development community.
According to reports from Blockchain experts, destroying the NFT after the celebration emphasizes the uniqueness and symbolic value of the work, while also creating an important event that encourages participation and raises awareness in the community.
How to mint the commemorative NFT "The Torch" and when does it take place?
All members of the Ethereum community can mint the "The Torch" NFT starting from July 30. This is an opportunity to experience the unique project organized by the world's second-largest ecosystem.
The act of minting the commemorative NFT is carried out through platforms supporting minting on the Ethereum Mainnet, helping users enhance their expertise and experience in managing digital assets within the ecosystem.
What are the impacts of "The Torch" on the community and the cryptocurrency market?
The Torch initially creates a new trend in celebrating and building community value based on NFTs. This event contributes to increasing trust, enhancing the role of the community, and promoting activities on the Ethereum blockchain.
The 2024 report from the Blockchain Research Institute shows that symbolic NFTs like "The Torch" increase interaction levels and the project's prestige in the eyes of global investors and users.
Frequently asked questions about the "The Torch" NFT and the 10th anniversary celebration of Ethereum
Is The Torch NFT a limited NFT?
Yes, this NFT is iconic, transferred in a controlled manner, and will be destroyed after the anniversary cycle, ensuring its uniqueness and historical value.
Do I need an Ethereum wallet to mint this NFT?
Yes, to mint the "The Torch" NFT, you need an Ethereum wallet that supports Mainnet and the corresponding gas fees according to the network.
When does the NFT minting event take place and how long does it last?
Minting of the NFT starts on July 30 and may last for a limited period depending on the regulations set by the development team.
How is the destruction of the NFT carried out?
The NFT will be transferred to an anonymous cold wallet for permanent locking, unrecoverable, marking the end of the anniversary cycle.
How does this event affect the value of Ethereum?
This is a spiritual activity that helps strengthen the community and enhance the project's reputation, indirectly promoting the sustainable development of Ethereum.
Source: https://tintucbitcoin.com/ethereum-ra-mat-nft-the-torch-10-nam/
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