Opensea just announced that their marketplace will no longer be able to support NFTs from forks after The Merge update. Specifically, only NFTs from the proof-of-chain will now be accepted on the platform.
There is no support for ETH Forks
If there is one highly anticipated event in the cryptosphere, it is Ethereum’s upgrade to The Merge. However, the merger is not all good news. In fact, the Opensea marketplace has just confirmed that it will no longer host NFTs from forks after The Merge update. He will now focus on NFTs are on the proof-of-stake (PoS) blockchain.
The announcement was made on Twitter. Opensea said its team will no longer speculate on forked NFTs. Also, all the NFTs coming from it will no longer influence the marketit will now only support the updated blockchain. Opensea also emphasized the fact that its team is already working. In addition, the platform is already prepared to prevent any issues that may arise as a result of The Merge update on Ethereum. The goal is to ensure that the transition is seamless.
Smooth transition
According to Opensea, the transition should go smoothly. She also wanted to reassure the public. This, by guaranteeing them that customer support remains available throughout the process. The developers will follow the merger in detail through the Ethereum site.
Interestingly, apart from Opensea, Circle and Chainlink have also announced that they will adhere to it exclusively the PoS version of Ethereum. Both platforms will also not support Ethereum forks that may occur after the update. What is certain is that the move is shaking up a lot of things in the cryptosphere.
Impact on the price of ETH
Recently, economist Lex Sokolin spoke to Cointelegraph about his feelings about The Merge update. In particular, he said that economic design changes would occur automatically after the merger. Still accordingly, this will directly affect the price of Ether (ETH).
Indeed, the changes that will occur within the protocol will have some impact on the supply of ETH. Of course this will depend on developments in the market. However, it should not be ruled out the possibility that the price of the token will continue an upward movement.
A long awaited update from the community
The native asset of the ETH fork should finally be supported by Ethereum PoW miners. The announced price is around $100, but nothing is certain at this point. Analysts say the rise is partly due to some exchanges starting to support Ethereum cryptocurrencies, ETHW and ETHPoS (ETHS) on their trading platforms.
It is recalled that The Merge is an update that allows Ethereum to fully switch to the proof-of-stake, proof-of-stake (PoS) consensus mechanism. According to official statements, the move is expected to take place between 10 and 20 September.
More information: Ethereum D-5 for The Merge: everything you need!
