OpenSea Will Not Support NFTs on ETHPoW Fork

OpenSea, the world’s leading NFT marketplace, has publicly supported the Ethereum Merge. It will do so later in the month.

It will not support any speculative Ethereum Forks following its activation – such a potential ETHPoWfork.

In a Wednesday tweet, the marketplace stated its support for Merge. It stated that it was committed to only supporting NFTs on the upgraded Ethereum PoS Chain. It stated that it was committed to monitoring, managing and communicating all aspects of the process. The merger will reduce Ethereum’s energy use by more than 99% and prepare it for sharding, which is a scaling solution further down on the protocol’s roadmap. The merger will allow ETH holders the opportunity to stake their coins and make a profit from the network. A group of Chinese Ethereum miners has been working on an Ethereum fork, which will keep proof of work beyond September. BitMEX already offers leverage trading for the chain that is not yet in existence, although this has not been confirmed. OpenSea cannot support assets that circulate on any of the chains in order to keep them functional. Major companies have so far agreed to support the POS Ethereum merge. USDC and USDT that circulate on other forks will lose the dollar peg.

CryptoPotato’s first post, OpenSea Will No Long Support NFTs on ETHPoW fork, appeared first on CryptoPotato.

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