We have all heard a lot about the upcoming “Ethereum Merge,” scheduled to take place any day now. No doubt there are plenty of resources and news articles explaining what it is and what it means for the future of the second most-valuable cryptocurrency in the world, Ethereum. We’d like to double-click on what it means for your 11 Captain’s Club NFT.
The Ethereum blockchain is the biggest marketplace for NFTs and home to the most popular digital collectibles like the Apes, the Gutter Cats, Cryptopunks, Moonbirds and - of course - the Captains. The merge upgrade will see millions of NFTs currently running on the Ethereum chain shift to the new “Proof of Stake” consensus mechanism. Developers maintain that NFTs will function normally following the merge, however there MIGHT be forked versions of Ethereum immediately following, which may create confusion and scams, as what may look like duplicate NFTs may enter the system.
The prevailing consensus is that any confusion from duplicate NFTs on forked-chains will be short lived, as creators and major marketplaces won’t even recognize these “copies.” Ethereum experts maintain that users should expect their NFTs will safely reside on the new Ethereum chain along with their ETH tokens.
The best advice here is to do nothing while the merge happens. The merge itself should take about 12 minutes, in which time all marketplaces will suspend all activity momentarily. In short: sit tight Captains, the merge should bring faster contracts, processing speeds and scarcity, which can drive the value of Ethereum up over time.
