Staff members of top U.S. cryptocurrency paltform Coinbase, Rebecca Rose and Peter Kacherginsky, have disclosed how they legally married using Ethereum’s blockchain.
Rose announced on Twitter on April 3 that the couple had married on March 14 in both the real and virtual worlds.
Besides the conventional Jewish marriage ceremony, Kacherginsky created the Tabaat Ethereum smart contract, which distributed tokenized “rings” NFTs in the type of TBT tokens to the bride’s accounts. The Hebrew word for ring is tabaat.
On March 10, Kacherginsky formed the 2,218-line-long smart contract, which charge 0.25 ETH (roughly $450 at the time) to establish. Three more transfers have been sent to Tabaat an hour after the contract was produced for an extra cost of 0.0048 ETH or $87, meaning that tokenizing a marriage contract requires about $537.
The ceremony itself comprises of 2 exchanges: the move of the NFT’rings’ from the contract to Rose and Kacherginsky. The Ethereum network takes four minutes to verify the event, and miner payments of $50 were paid.
The typical physical wedding in the United States, on the other hand, costs about $25,000.
Carl Johan Hasselrot demonstrated the NFTs, which represent an illustration of two circles combining to form one. Rose wrote on Twitter:
“The blockchain, unlike physical objects, is forever. It is unstoppable, impossible to censor, and does not require anyone’s permission. Just as love should be. What could possibly be more romantic than that.”
This isn’t the first blockchain-based wedding; in October 2014, DLT had been used to marry for the first time. Throughout a ceremony held throughout a private Bitcoin event at Disney World in Orlando, Florida, David Mondrus and Joyce Bayo formalized their union by scanning a QR code.