Gas Fee for First Minted NFT Following Merge Is $60,000

At 6:42 a.m. UTC today, the Ethereum network went through its last upgrade. The first NFT was made on the proof-of-stake-based ETH network in just 17 seconds. It cost 36.8 ETH, which is almost $60,000 in transaction fees.

The picture is part of a collection of 100 pieces on the NFT marketplace OpenSea. It shows a panda that is a mascot for Ethereum. “The Transition” is the name of the NFT collection.

Besides the Edition labels, the NFTs show information about the Ethereum Merge, such as ...