Ethereum Merge is coming, how to react as NFT owners?

Let's tackle the Ethereum merge from an NFT standpoint.

Ethereum Merge and NFTs - do I need to be worried?

The Ethereum Merge is coming and this post serves as a guide on how to react correctly. The best advice is to not buy or sell anything post-merge for a couple of weeks.

  1. Your funds are safe - stay calm and do nothing.
  2. In any case of a potential fork, OpenSea will only support NFTs on the PoS chain! But there might be other platforms displaying the NFT on both chains, which would mean that you see your NFT twice - don't get greedy and try to sell the "copy".
  3. Do literally nothing with your NFTs - DONT buy and DONT sell for a while. We'll face a lot of scam attempts, that will be too good to be true. We'll probably see people thinking they are making a really good "deal" while buying the NFT on the PoW Chain, which won't be supported by the NFT projects itself.
  4. Don't interact with the "old" copy of your NFT, otherwise, it might get stolen due to replay attacks, if the forked chain shares the same chain ID, but the anticipated "forked chain" won't have that - so there should be no problems.
  5. The merge doesn't reduce any gas fees.
  6. Some projects already, like YugaLabs (in the future probably all of them) will only recognize NFTs on the PoS chain regarding the license and eligible utility. Recap: Don't do anything for a while, and stay chillaxed.

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