Ethereum Unveils “Torch” NFT for 10-Year Anniversary Tribute

Ethereum Marks 10 Years With Symbolic Torch NFT

To commemorate its 10-year anniversary, Ethereum is launching a special NFT called “The Ethereum Torch,” designed to honor the protocol’s global community and technological evolution. Announced on July 21 via the Ethereum Foundation’s official X account, the commemorative torch NFT will pass from one wallet to another every 24 hours until July 30.

The event begins with Joseph Lubin, Ethereum co-founder and CEO of ConsenSys, as the torch's first bearer. Each recipient has been handpicked to reflect Ethereum’s global reach and community-driven roots. Once the 10-day handover ends, the NFT will be burned on July 30 — marking the close of Ethereum’s first decade and the symbolic start of its next.

A freely mintable celebratory NFT will then become available through Ethereum’s official website, offering supporters a commemorative token tied to this major milestone. The torch NFT is not tradable on platforms like OpenSea, keeping the focus on symbolism over speculation.

Ethereum NFT Market Sees Dramatic Comeback

The 10-year celebration comes at a time of major resurgence in NFT trading volume. According to on-chain data, weekly NFT sales topped $110 million, with Ethereum-based NFTs contributing $75 million — a 300% surge from just two weeks earlier.

This surge coincides with Ethereum’s 50% price rally since July 6, which has reinvigorated collectors and traders across the board. Experts believe this may signal renewed trust in digital collectibles after a sluggish start to 2024 that saw an 18% decline in NFT trading from the prior year.

Other chains showed mixed momentum. Bitcoin-based NFTs more than doubled in volume to $25.6 million, while Polygon’s trading slipped slightly. Ethereum, however, remains the dominant force behind this rebound.

Symbolism Over Speculation in Anniversary Campaign

While Ethereum’s torch NFT won’t be for sale, it’s already igniting community discussions online. Many praised the gesture as a return to Ethereum’s core values — decentralization, innovation, and community pride. The act of burning the torch on July 30 is meant to represent not just a tribute, but a transition into Ethereum’s next era.

The Ethereum Foundation also confirmed that free minting of a new NFT will begin after the torch is burned — designed to be an inclusive way for all users to join the celebration.

Institutions Also Signal NFT Interest

In another bullish sign, Cboe BZX Exchange filed a proposal to launch an ETF holding PENGU tokens, tied to the Pudgy Penguins NFT series. Data from CoinGecko ranks Pudgy Penguins as the second-highest volume NFT collection, trailing only CryptoPunks.

Adding to the momentum, a whale buyer purchased 48 CryptoPunks for $8.5 million, reaffirming high-end demand and deep-pocketed confidence in Ethereum-based digital collectibles.