Ethereum celebrated its 10th anniversary with the launch of a unique NFT in the form of a digital torch. This project symbolizes the development and community of Ethereum.
Launch of the Digital Torch NFT
On July 21, the Ethereum Foundation announced the launch of a token called 'Ethereum Torch' that will be passed from one wallet to another every 24 hours until July 30.
Symbolism and Torch Passing
The torch, according to Ethereum, pays tribute to the people and ideals that have shaped Ethereum's first decade. The first holder of the torch is co-founder of Ethereum Joseph Lubin. Participants in the transfer were selected to reflect the global community of developers.
NFT Market Revival
According to reports, the NFT market is showing signs of revival. Last week, total NFT sales across all blockchains topped $110 million, the highest weekly total in the last six months. Ethereum-based projects accounted for a significant portion of this figure, reaching about $75 million.
The launch of the digital torch NFT emphasizes Ethereum's growth and development over the past decade, as well as the revival of interest in the NFT market.
