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Coinbase Employees get Married via NFT Rings - Bitcoin World

NFT

bitcoinworld.co.in 05 April 2021 07:02, UTC
  
Reading time: ~2 m

Amidst the increasing NFT hype, two Coinbase employees have carved their marriage on Ethereum’s distributed ledger. Rebecca Rose and Peter Kacherginsky, both employees of Coinbase, chose to celebrate their ceremony with “virtual rings” to begin their married life. On April 3, Rose took to Twitter to declare the pair had married on March 14 in both the physical and virtual worlds. In enhancement to conducting a conventional Jewish ceremony, the couple from San Francisco swapped NFTs on March 14 this year. 

The couple termed their token as “Tabaat,” a Hebrew name for the ring. It is a two-of-a-kind token. Peter outlined its smart contract, and the ring image itself was animated by artist Carl Johan Hasselrot. The couple believes in the logic that the real engagement rings are non-fungible and unique because of their sentimental worth, so the NFT tokens fulfill the same mission. Peter and Rebecca decided to exchange tokens as tokens of their love as they both believe in blockchain’s aptness as a symbol of incorruptibility. 

NFT Marriage Contract Costs $537?

Peter Kacherginsky developed the 2218 line-long smart contract on March 10, with the contract costing 0.25 ETH to issue, worth approximately $450 at the time. After an hour of the contract formation, the transfer of three more transactions took place from Tabaat for an additional cost of 0.0048 ETH or $87. Moreover, this suggests that it costs approximately $537 to tokenize a marriage contract. The marriage ceremony consisted of two transactions. It involves the transfer of the NFT rings’ from the contract to Rose and Kacherginsky. In sum, the ceremony consumed 4 minutes to be verified by the Ethereum network and incurred $50 in miner fees. 

Moreover, the blockchain on which Rebecca and Peter recorded their marriage has been stamping transactions since 2015. To corrupt their vow, Peter or Rose would have to confiscate 51% of the network’s computing power. Further, Rebecca and Peter have proven that one can tokenize anything. Laina Morris, the Internet celebrity who became famous following her Overly Attached Girlfriend meme, went viral and recently sold a tokenized version of the meme for 200 ETH ($411,000). 3F Music, a Dubai-based music studio, acquired the meme, which also bought The New York Times’ NFT for $560,000 last Thursday. Besides, Jack Dorsey tokenized his first tweet, the first tweet ever, and sold it for $2.9 million.


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