OpenSea Opts for Ethereum Proof-of-Stake Post Merge

The NFT marketplace giant won’t support Ethereum forks, but OpenSea competitors might

article-image

Blockworks Exclusive Art by Axel Rangel

share
  • OpenSea processed $31 billion in trading volume since its inception
  • Other platforms won’t necessarily follow OpenSea’s selective stance, a crypto exec told Blockworks

OpenSea will support the proof-of-stake Ethereum chain once the network’s highly-anticipated upgrade — the Merge — is completed. 

The Ethereum Merge will shift the blockchain from its current proof-of-work consensus to a more environmentally friendly version which is 99.9% more energy efficient. The event — expected to occur on or about Sept. 15 — has driven many crypto platforms to gear up for the change.

“First, and most importantly, we are committed to solely supporting NFTs on the upgraded Ethereum PoS chain,” OpenSea said in a Twitter thread on Thursday.

It also referenced potential Ethereum PoW forks that may try to launch alternative chains, noting that existing non-fungible tokens (NFTs) on the Ethereum proof-of-work mechanism will no longer be supported or reflected in OpenSea’s marketplace.

OpenSea is the largest NFT marketplace for crypto collectibles on the Ethereum blockchain and has touched $31 billion in trading volume since its December 2017 launch, DappRadar data shows.

Many have branded Ethereum’s upcoming transition as a defining moment for the blockchain space. Most platforms that currently run on Ethereum will also support the PoS chain because not doing so would effectively cut them out of the ecosystem, according to Asaf Naim, CEO of decentralized application developer Kirobo. 

“However, I do not expect these platforms to follow OpenSea’s selective stance,” Naim told Blockworks. “I expect we will see these platforms inclined to also support a forked chain that remains on POW.”

“It is worth noting that any forked chain will lag behind the new PoS chain in terms of both use and price,” Naim added. 

Stablecoin provider Circle has taken a similar stance to OpenSea’s, saying it will solely support the PoS chain, and that its USD Coin (USDC) can only exist as a single valid version. Combined with a similar decision by Tether regarding its USDT stablecoin, the lack of support is poised to wreak havoc on DeFi applications on any forked chain.

Web3 platforms prepare for the Merge

Several platforms apart from OpenSea have also announced contingency plans to support the transition. DeFi lending protocol Aave recently proposed halting ether borrowing until the Merge, pointing to potential issues in liquidation transactions due to high utilization. 

NFT marketplace LooksRare also announced its mitigation plan, saying it would go into maintenance mode shortly before the event. The plan is designed to prevent replay attacks by temporarily suspending trading until after the Merge. Absent such precautions, users who execute trades on an Ethereum PoW fork could be at risk of losing their NFTs on the post-Merge Ethereum PoS chain.

Crypto exchanges have also announced support for the Merge transition, but some may be more accommodating of Ethereum forks, unlike OpenSea. Coinbase will briefly pause new ether and ERC-20 token deposits and withdrawals as a precautionary measure.

Both Coinbase and Binance have said they will consider listing ETH PoW forks if they arise post-Merge.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The goal, per Santiago Santos, is to make crypto a relatable piece of tech for people who may not even understand it

article-image

Stripe stablecoin unit aims to operate under a federal charter enabling regulated stablecoin issuance and custody services

by Blockworks /
article-image

Will TradFi make crypto better or create more problems than it solves?

article-image

Subtle decisions by risk curators saved Aave from significant turmoil

article-image

The new Rootstock Institutional unit aims to connect professional investors to Bitcoin-native yield and liquidity strategies anchored in BTC’s security layer

by Blockworks /
article-image

DOJ files record civil forfeiture against more than 127,000 BTC linked to scam activity

by Blockworks /