World's Biggest NFT Marketplace Says It Will Only Support Proof-of-Stake Version of Ethereum (ETH)

NFT Marketplaces and the Merge

A lot has been going on with NFT Marketplaces and the Merge as the Ethereum Merge’s date draws near. NFT (Non-Fungible Tokens) marketplaces have revealed that they will only support NFTs on the Ethereum PoS blockchain.

On OpenSea’s Twitter handle, the NFT marketplace made it clear that while its team is not anticipating any fork from Ethereum, as it has clarified that if NFTs are forked, it will not list them on its platform.


OpenSea  and Chainlink NFT Marketplaces and the Merge

Via the OpenSea Twitter page, the NFT marketplace made it clear that it will only support NFTs on the upgraded chain.

Furthermore, it mentioned that its team is getting the NFT marketplace ready for issues that can come from the Ethereum Merge. By all means, it intends to make the transition period smooth.

Although the team is not expecting any major issues from the Merge, it assured its community members that it would monitor, manage and communicate with them till the entire transition is completed.

The OpenSea team also asked developers to find details about the Ethereum Merge on the Ethereum Website.

NFT Marketplaces and the Merge

Besides OpenSea, Chainlink has also shown that it is committed to ensuring that the Ethereum PoS transition is smooth.

The Chainlink team clarified that the platform’s protocol would not support any Ethereum fork that may arise following the Merge.

Like OpenSea, it assured its community members that it is preparing for any problems that may arise during the transition period.

Lex Sokolin, an economist, emphasized that the price of ETH may be affected by the Post-Merge economic design of the Ethereum network.

According to him, the protocol changes in the Ethereum network will naturally affect ETH’s supply.

However, Lex stated that things are still uncertain about the Merge affecting ETH’s price. He said that the market will primarily decide the movement of the ETH’s price.

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EthPow and the Merge

In the meantime, the potential ETHPoW native asset that the PoW miners in Ethereum may back is currently trading at around $100, even though it is not in existence yet. It started after some exchanges such as, MEXC, Bitrue, CoinW, and Phemex listed it.

In conclusion, there are a lot of uncertainties surrounding Ethereum’s Merge. No one knows what it may bring to the price of ETH, especially with the ETHPoW fork.

In our honest opinion, to trade wisely in this time, follow the market. It seems to be the only safest option now.

About Vincent Mbatha

Vincent Mbatha is a crypto enthusiast who is passionate about helping people navigate the world of blockchain technology to achieve financial freedom. Providing crypto tutorials as a means of direct walkthrough is also known to help many. When he's not creating content he spends his past time with his family, creating memories.

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