As the date for the Ethereum Merge approaches, nonfungible token (NFT) marketplace OpenSea has announced that it will focus on supporting only the NFTs that are on the upgraded proof-of-stake (PoS) blockchain.
In an announcement on Twitter, the NFT marketplace said that while their team is not speculating on any potential forks, as it clarified that if there are forked NFTs, they will not reflect on OpenSea as the platform will only support the upgraded chain.
The NFT marketplace also highlighted that its team is preparing the NFT trading platform for any issues that may arise with the upcoming Ethereum Merge so that the transition period will be smooth.
While the team believes that there will not be any major issues, it assured the community that they will be monitoring, managing and communicating with its users all throughout the entire process. They also asked developers to check out the details about the Merge on the Ethereum website.
Apart from OpenSea, Chainlink also expressed its commitment to the PoS transition of the Ethereum mainnet. The team pointed out that the protocol will not be supporting any Ethereum forks that may come after the Merge. The team also assured its community that it’s doing its best to prepare for any issues that may come during the transition.
In a recent Cointelegraph interview, economist Lex Sokolin highlighted that the economic design changes post-Merge might affect Ether (ETH) price. The economist believes that the changes within the protocol have natural implications on the supply of ETH. Despite this, the economist recognized that nothing is certain yet and that the market will be the one to decide any movements in the token’s price.
Meanwhile, the native asset for the potential ETHPoW fork that may potentially be backed by Ethereum’s PoW miners is trading at $100 despite not yet existing. This happened after some exchanges started to list ETHW and ETHPoS (ETHS) on their trading platforms.