Marketplace won’t support forked NFTs post-merge, says OpenSea 

The nonfungible token (NFT) marketplace OpenSea has announced that it would concentrate on serving just the NFTs that are on the enhanced proof-of-stake (PoS) blockchain as the Ethereum Merge deadline draws near, as reported by Cointelegraph.

As per Cointelegraph, the NFT marketplace stated in a tweet that while its team isn’t making predictions about probable forks, if there are any, they won’t affect OpenSea because the platform would only support the upgraded chain. In order to ensure a seamless transition during the next Ethereum Merge, the NFT marketplace also stated that its staff is preparing the NFT trading platform for any problems that may develop.

Although the team is certain that there won’t be any significant problems, it reassured the community that it will monitor, manage, and keep in touch with its consumers throughout the entire process. Additionally, they urged programmers to review the Merge’s details on the Ethereum website, Cointelegraph noted. 

In addition to OpenSea, Chainlink also pledged its support for the Ethereum mainnet’s move to PoS. The protocol will not support any Ethereum forks that might occur after the Merge, the team emphasised. The team gave its community the reassurance that it is making every effort to be ready for any problems that might arise during the changeover.

Lex Sokolin, an economist, noted in a recent Cointelegraph interview that the price of Ether (ETH) may be impacted by changes to the economic structure following the Merge. The economist thinks that the modifications to the protocol will naturally affect how much ETH is available. Despite this, the economist understood that nothing is certain yet and that any changes in the token’s price will be determined by the market.

(With insights from Cointelegraph)

Also Read: NFT-based music industry finding new applications through Web3.0 

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