Live Blog | Ethereum Merge and NFTs

Live Blog | Ethereum Merge and NFTs

After years of work and complex problem solving, the Ethereum blockchain is officially expected to complete its journey from a proof-of-work consensus mechanism, to proof-of-stake. 

The move - coined "The Merge" - is expected to make the Ethereum blockchain more sustainable, efficient, and secure. 

Though there is not a set time for the completion of the Merge, most block estimates expect it to take place around 1:00 a.m. ET on Thursday, Sept. 15. 

Because of the complexity and technical challenge, and the potential for unintended consequences, many NFT projects and platforms have provided guidance to holders about post-Merge plans and support. 

For example, earlier this week SuperRare notified users of its platform that it would be pausing select activities ahead of the Merge, and only honoring proof-of-stake artwork afterward.

To keep you updated on all the connections of the Ethereum Merge and NFTs the Lucky Trader Staff will be live blogging the events leading up to, and throughout the Merge's expected completion. 

Follow along below for more! 

To learn more about the Merge and its expected impact on NFTs, refer to Jason Bales' guide "What Is The Merge and How Will It Impact NFTs?"

Additionally, find all Merge-related news posts via the "Merge" tag on our Lucky Trader newsfeed.


Yuga Labs, OpenSea Will Support Proof-of-Stake

Well ahead of the anticipated Merge, both Yuga Labs and OpenSea provided guidance to holders and users alike about plans for the aftermath of the Ethereum Merge. Both organizations plan to only support NFTs on the proof-of-stake chain, disavowing any forked NFTs on a PoW chain. 

The pair was joined by other leading NFT platforms and projects like The Sandbox, LooksRare, SuperRare, in support of only the eventual PoS chain. 

An ETH Developer Shares Helpful Resources (10:31 a.m. ET)

Notable ETH developer and personality, 0xFoobar, shared a thread reassuring users of the Ethereum blockchain that everything will be alright ahead of the upcoming Merge. 

A brief warning, the thread may be best suited for those with a proficient understanding of blockchain technology.  

Perhaps most notable for the Lucky Trader NFT audience on NFTs and activity, 0xFoobar says, "Expect a period of high price volatility and high gas prices surrounding the merge. Probably some cool merge-specific NFTs that will be angling to be minted in the last PoW block or the first PoS block. Nothing to worry about on the end-user side for most!" 

 

Worldwide Webb Land Celebrating Merge

Metaverse project Worldwide Webb Land is having fun with the Ethereum Merge, and celebrating with an in-world feature. 

Be Wary of Twitter Scam

A member of MetaMask's security team pointed out that Twitter is promoting a scam Twitter account while the ETH Merge topic is trending on the social media platform. 

Please be vigilant of accounts or actors asking you to perform some action ahead of the Merge - no actions are required! The upgrade from proof-of-work to proof-of-stake will take place automatically. 

Gutter Cat Gang Will Support Proof-of-Stake

Gutter Cat Gang shared its plan for the Ethereum merge on Wednesday afternoon. The team plans to only recognize NFTs on the proof-of-stake chain when considering holders as members of the Gang. The first event post-merge with be GutterCon this weekend in Las Vegas.

OnChain Monkey Joins Support of PoS NFTs

OnChainMonkey will only support the PoS version of its NFTs, noting that they will remain connected to all applicable Metagood licenses. 

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