As Ethereum prepares to transition into a Proof-of-Stake (PoS), the world’s largest non-fungible token (NFT) marketplace OpenSea, has announced that it will only support Ethereum’s PoS chain, after the merge event.
OpenSea Will Support PoS After the Merge
With the Ethereum merge now only days away, OpenSea has revealed that its marketplace will support the Ethereum PoS chain only after the merge has successfully been completed.
OpenSea explained that its team has been working on the OpenSea product in preparation for the upcoming transition of Ethereum into its Proof-of-Stake chain. This is to ensure that the process is seamless.
OpenSea says that its developments towards the merge have been going smoothly and doesn’t expect any major issues with the transition. However, they remain “committed to monitoring, managing, and communicating throughout.”
No Support for Hard Forks
In addition, OpenSea has announced that it won’t support any NFTs from an Ethereum hard. OpenSea writes that it remains “committed to solely supporting NFTs on the upgraded Ethereum PoS chain.”
3/ While we won’t speculate on potential forks–to the extent forked NFTs on ETHPoW exist–they won’t be supported or reflected on OpenSea.
— OpenSea (@opensea) August 31, 2022
This means that the world’s largest marketplace will not support NFTs created on any chains that are hard forked as Ethereum undergoes the merge.
On the Flipside
- While it will not support Ethereum PoS until after the merge, OpenSea has announced that its Seaport protocol now supports the Polygon chain.
Why You Should Care
Like many others, OpenSea is putting everything together to ensure the smoothest transition possible following the most-anticipated crypto event, the Ethereum merge.
Find out how miners are preparing for the merge in:
Read about OpenSea’s Seaport in: