- Two Coinbase employees get married on ETH blockchain.
- Peter composed an ETH smart contract named Tabaat.
- It takes around $537 to tokenize a marriage contract.
- The ceremony took 4 minutes to be verified by the ETH network.
The employees of leading US-based crypto exchange Coinbase Rebecca Rose and Peter Kacherginsky used Ethereum blockchain to become lawfully wedded. On April 2, a Twitter post by Rebecca Rose, announces the pair had tied the knot on March 14.
In addition to a legendary Jewish wedding ceremony, Kacherginsky composed an Ethereum smart contract named Tabaat that issued tokenized “ring” non-fungible tokens (NFT) in the form of TBT tokens to the couples’ wallets. Tabaat is the Hebrew word for the ring.
Besides, the 2,218 line-long smart contracts were created on March 10 by Kacherginsky. Also, the contract cost 0.25ETH to make — worth roughly $450 at the time. Moreover, after completing the contract, three more transactions from Tabaat sent an additional cost of 0.0048ETH or $87. Proposing it takes around $537 to tokenize a marriage contract.
However, the ceremony itself considers two transactions—the transfer of the NFT’ rings’ from the contract to Rose and Kacherginsky. Meanwhile, the ceremony took 4 minutes to be verified by the Ethereum network and incurred $50 in miner fees.
By variation, the standard physical wedding in the United States costs approximately $25,000.
In addition, the NFTs describe an animation of two circles merging to become one and were drawn by artist Carl Johan Hasselrot. On Twitter Rose mentioned, ‘the blockchain, unlike physical objects, is forever’.
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? 7/7 pic.twitter.com/P0XC5uLjor
— Rebecca Rose (@rgoldilox) April 2, 2021
Furthermore, this is not the first blockchain-based matrimony. However, with DLT first to tie the knot back in October 2014. The marriage viewed David Mondrus, and Joyce Bayo formalizes their marriage by scanning a QR code during a ceremony held throughout a private Bitcoin conference at Disney World in Orlando, Florida.