OpenSea says it won’t support forked NFTs after the Merge

OpenSea says it won't support forked NFTs after the Merge

Quick Take

  • Only NFTs on Ethereum PoS will be supported.
  • Preparations are underway for the Merge.

The world’s largest NFT marketplace Opensea has announced that they will only be supporting only NFTs on the upgraded Ethereum Proof of Stake Blockchain in anticipation of the Merge scheduled to happen a few days from now.

In an official announcement on Twitter, Opensea said their team is not anticipating on any potential forks, however if there are forked versions of NFTs, they will not be reflected or supported on OpenSea.

They also made it clear that they are preparing the NFT marketplace in case of any issues that may come during or after the Merge so that the transition period will be smooth.

The Opensea team believes that there won’t be any major issues, but they assured their community that they will be monitoring, managing, and communicating with their users throughout the entire process. They also asked developers to check out details about the Merge on the Ethereum website.

Opensea started trading Ethereum NFTs in 2017, they were the first NFT marketplace to allow users to buy and sell Ethereum NFTs.

The platform supports over 80 million NFTs across various blockchains including Solana and Polygon. The total volume of NFTs traded on the platform since inception is over $31 billion according to Stats from DappRadar.

Binance also released a statement on the issue reiterating their commitment to the upgrade, and their stance in case there is any fork.

The Merge is one of the biggest upgrades ever on the Ethereum network and it is scheduled to take place sometime between September 10 and September 16. It will shift the entire Ethereum network from Proof-of-Work to Proof-of-Stake, lowering the energy consumption levels of the Ethereum blockchain, and instead of using mining to validate transactions, users stake their ETH to become validators on the network.

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About the Author
Audu Buba
Audu Buba
Audu is a journalist passionate about blockchain technology, NFTs, and the metaverse.