Yuga Labs Announces 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.