We are delighted to announce that we will be supporting the PoS Ethereum chain once the networks’ highly anticipated upgrade, the Merge, is completed on and/or around Thursday, 15 September, 2022. This will mark the end of proof-of-work for Ethereum, and the full transition to proof-of-stake.
What does this mean? 99.5% more energy efficient for minting and NFT transfers
Due to the new sustainability benefits, more artists will return to Ethereum releasing NFTs back on Ethereum
However, there will be some precautions to note: For approximately 12 hours before and after the Merge, elementum will pause payments, token minting, withdrawals. NFTs minted before the merge on the old PoW chain will exist on both chains after the merge is completed. However, elementum will only support NFTs on the upgraded PoS chain.
“With respect to sustainability, we are committed to minting NFTs exclusively on the upgraded Ethereum PoS chain." —Sven Schumacher, CTO at elementum