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Marketplace to Deny Forked NFTs After ETH Merger, OpenSea Claims
OpenSea is a well-known marketplace similar to Esty, Amazon and eBay. However, the only difference here is the items available for purchase. All items on the market are special digital collectibles that come as NFTs (nonfungible tokens). Market users can buy, sell or mint these tokens.
OpenSea users perform their transactions through self-executed smart contracts provided on the platform. This method of operation is quite important for fair and successful trades.
The platform offers multiple trading options to users on the market, such as atomic and peer-to-peer transactions.
OpenSea NFT Services Post Merger
While the marketplace is proving to be a good platform for NFT transactions, OpenSea brought new developments in its services. The company recently announced that it is not overly concerned about forked NFTs. However, it cited that its services will concentrate more on PoS NFTs.
The NFT marketplace announced on Twitter that potential forks would not reflect on the platform. Primarily, their services will target non-fungible tokens available on the upgraded blockchain network.
Currently, the OpenSea marketplace is improving its platform in anticipation of the upcoming merger. The idea is to prepare the marketplace for possible problems with the merger. This development is necessary to guarantee a successful transition of the network.
The marketplace encourages its users, citing that it will maintain uninterrupted communication until the migration process is complete. It believes that the merger will go smoothly without any major problems. This is because the team is currently on the Ethereum website to check the progress of the merge.
Other platforms in Watch
OpenSea is not the only company showing interest in the network transition. Chainlink also expresses a degree of commitment to the progress of the upgrade.
The Ethereum-based decentralized blockchain, Chainlink, also announced that it would not focus on Ethereum-forked NFTs. This is planned to start after the successful transition to the Proof of Stake system. However, Chainlink addressing the community cited that it is doing its best to maintain the platform regardless of issues with the merger.
Lex Sokolin takes on the ETH prize
While some of ETH’s supporters believe that the merger will positively affect the price of ETH, Lex Sokolin thinks otherwise. Sokolin cited in an interview that the price of ETH may be affected due to economic design changes.
He added that after the merger, these changes could affect the supply of ETH, which in turn would reflect the price. Although the economist believes this could happen, he said it is not inevitable. Moreover, the digital currency market is the only one that determines the price of Ethereum after the merger.
Meanwhile, the price of the upcoming Ethereum PoS fork’s native token is trading at $100. Although it is not available for sale yet, some exchanges already have it listed on them.
