What does the Ethereum Merge mean for NFTs?

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martinnura
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Joined: 02 Aug 2022, 08:45

What does the Ethereum Merge mean for NFTs?

Earlier, Ethereum, the blockchain platform, validated transactions using the proof-of-work system. This meant that carbon-intensive machines had to be used extensively for computation. The Merge represents the switch to a proof-of-stake system instead. Through this, transactions will be validated by volunteers staking their ether and later being rewarded by a fee

Now, Ethereum will reduce its energy consumption by 99.95% and NFTs will be created with less energy usage making one prominent criticism almost null and void. NFT Gaming Marketplaces, too, may see more users as the environmental concerns have been addressed.
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