Ethereum Launches Symbolic NFT Torch for Its 10-Year Anniversary
Ethereum is getting ready to celebrate its 10th anniversary, and to mark the occasion, the Ethereum Foundation has launched a special digital torch in the form of an NFT (non-fungible token).
What Is the Ethereum Torch?
The "Ethereum Torch" is a symbolic NFT created to celebrate Ethereum’s journey since it launched in 2015. This torch will be passed from one crypto wallet to another each day until July 30. It honors the people, ideas, and values that have helped build the Ethereum community.
Joseph Lubin, one of Ethereum’s co-founders and the founder of ConsenSys, was the first person to hold the torch. Over the next 10 days, other well-known people in the Ethereum community will each hold it for 24 hours. On the last day, the torch will be burned (destroyed), symbolizing the end of Ethereum’s first chapter and the start of a new one.
Free NFT for Everyone
On July 30, Ethereum will also release a free commemorative NFT that anyone can mint (claim). This token is meant to be a keepsake to celebrate the anniversary and is expected to be claimed by many in the community. This event reflects Ethereum’s values of inclusion, openness, and decentralization.
Community Reactions
The torch launch has gotten people talking online. Some praised the symbolism, while others joked about Ethereum “finally accepting NFTs.” Currently, the Ethereum Torch NFT is not available for trading on OpenSea or any major NFT marketplaces.
Ethereum NFT Market is Booming Again
While the symbolic torch is making headlines, there’s also big news on the numbers side. Ethereum-based NFTs have seen a huge increase in trading activity.
In the past week:
- Total NFT trading across all blockchains hit over $140 million, the highest in more than six months.
- Ethereum NFTs led the way with $75 million in trades — a 300% increase from two weeks earlier, when volume was just $18.3 million.
- The rise comes as Ethereum's price has gone up nearly 50% since July 6, bringing new energy into the market.
Other chains are seeing changes too:
- Bitcoin NFTs reached $25.6 million in weekly volume, up from $11 million earlier this month.
- Polygon NFTs, on the other hand, saw a slight drop.
Institutions Getting Involved
Big players are also entering the space. Cboe BZX recently filed for a new crypto ETF from Canary Capital. The ETF would include PENGU, a token tied to Ethereum’s popular Pudgy Penguins NFT collection.
