Merge News & Articles
SuperRare is disabling the ability to create auctions on its platform until at least Thursday, Sept. 16 at 7:00 a.m. ET, according to an announcement from the project. All running auctions may receive bids until 11:00 p.m. ET on Wednesday, Sept. 15.
The move is just one of two preventative measures being implemented by the leading NFT art marketplace ahead of the Ethereum "Merge," which will shift the consensus mechanism of the Ethereum blockchain from proof-of-work to proof-of-stake.
Just before the Merge - which is expected to take place around 1:00 a.m. ET on Thursday - SuperRare will also pause all minting and marketplace activity.
After the Merge, SuperRare plans to only support the proof-of-stake chain, claiming it was always part of the plan to follow the roadmap of Ethereum.
"SuperRare has always planned to follow the roadmap of Ethereum and will only support artworks on the Proof-of-Stake chain. Any potential forks will be ignored, and all artworks on such a fork will be treated as though they do not exist."
Learn more about what the Merge can mean for your NFTs.
OpenSea became the first NFT marketplace to announce its plans for NFTs following The Merge as the team made an official statement in a recent tweet thread earlier this evening.
OpenSea leads off by saying that it is fully "committed to solely supporting NFTs on the upgraded PoS chain."
Following that opening statement, the team addressed the elephant in the room, forked NFTs on Ethereum Proof of Work. In regards to the PoW NFTs, OpenSea said it currently has no plans to support PoW NFTs on its platform.
For more on The Merge and what it means for your NFTs, check out Lucky Trader's comprehensive guide.
The statement comes to an end with OpenSea saying that it does not anticipate there being any major issues with this transition but it did acknowledge that this is uncharted waters for marketplace aggregators such as itself and that it is "committed to monitoring, managing, and communicating throughout" the entire process.
As previously mentioned, OpenSea is the first marketplace aggregator to shed light on its official plans for The Merge, at the time of writing other notable marketplaces such as LooksRare, X2Y2, and Coinbase NFT have not yet released an official statement in regards to its plans for The Merge.
Yuga Labs tweeted out a message to its holders on Wednesday in regards to the upcoming Ethereum Merge in September.
Yuga Labs let its followers know that the intention will be to only recognize NFTs on the new Proof-of-Stake Ethereum chain in the event of a Proof-of-Work fork that is viable for NFT trading. The team sites that the NFT license will be connected to the Proof-of-Stake token and any upcoming utility attached to Yuga Labs NFTs will be connected to those PoS tokens.
The Ethereum Merge from a Proof-of-Work to a Proof-of-Stake protocol is expected to be taking place on September 15. For more information on what the Merge is and how it will affect your NFTs, check out the breakdown we released earlier this week.