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Yuga Labs Only Accepts NFT On ETH PoS

Yuga Labs, the team behind the popular NFT Bored Ape Yacht Club (BAYC) collection, has just made an announcement regarding The Merge and the Ethereum PoW fork scenario.

As The Merge is approaching, many parties have expressed their attitudes about ETH Proof-of-Work and Proof-of-Stake scenarios. This leads to division in the community. On August 18, 2022, Yuga Labs made an announcement around this issue.

As such, Yuga Labs and the NFT ecosystem around it will only accept NFT on the ETH PoS chain. As for the versions appearing on PoW hard fork chains, Yuga Labs does not accept or support it.

The Ethereum PoS backer list has finally added a new name. Before that, names like Tether, Circle, Binance, FTX or AAVE also accepted ETH PoS.

On the other hand, after receiving some initial attention, EthereumPoW (ETHW) is facing a lot of controversy because it wants to freeze user assets after The Merge. However, this is just a fork project of some Ethereum miners.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.