In Honor of Ethereum’s Merge, ConsenSys Will Be Launching Their New “Sustainable” NFTs

ConsenSys stated in their announcement made on Thursday that “the merge is the reason for joy.”

And to get the celebrations off to a running start, the blockchain company will issue “one of the first sustainable NFT drops on the Ethereum mainnet,” which goes by the name Regenesis.

Regenesis will include various editions of nonfungible tokens (NFTs) of “elaborately detailed worlds that embody the benefits of the Merge: sustainability, security, and scalability.” These editions were inspired by the merge, which was Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS).

The design of the collection was a collaborative effort between ConsenSys, the artist Chris Skinner, and the animation studio Keithcity Group.

The collection’s principal focus, sustainability, will highlight the supposed “2000x enhanced efficiency” of Ethereum and its “ambitious re-architecture” of the Web3 world as its central topic.

According to a report published by the Ethereum Foundation in May of last year, the PoW “consensus on Ethereum currently consumes the energy equivalent of a medium-sized country.” It is estimated that the transition into PoS will reduce energy consumption by 99.95 percent, given that the PoW “consensus on Ethereum currently consumes the energy equivalent of a medium-sized country.”

The limited-edition NFTs will be available for free minting on the day that the merging takes place, which is expected to take place between the 10th and 16th of September. The NFTs will be available beginning at 9:00 am Eastern Standard Time.

The text of the post is as follows: “ConsenSys urges everyone curious about our ecosystem to explore Web3-native solutions like MetaMask in order to claim a piece of Ethereum history.”

The Crypto Industry Readies Itself for ‘The Merge’

In addition to the removal of merge-specific NFTs, other cryptocurrency companies are putting in their own work to get ready for the upgrade.

OpenSea, the industry’s largest NFT marketplace in terms of trading volume, has denied support for any potential forks that could emerge in the future, stating that they “won’t be supported or reflected on OpenSea.” This decision was made after OpenSea rejected support for any potential forks that could emerge.

Ahead of the merge, Ethermine, which has the largest Ethereum mining pool, revealed that it will also be providing staking services. Ethermine Staking is a form of staking that allows users to stake less than 0.1 Ethereum into the pool, in contrast to the prohibitively high requirement of 32 Ethereum for staking straight to Ethereum.

This month, cryptocurrency exchanges such as FTX, Binance, Coinbase, and Bitfinex have all made steps to prepare for the update. Some of these exchanges are offering their customers the ability to trade for any forked tokens.

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