OpenSea, the largest Ethereum-based non-fungible token (NFT) marketplace, has launched an upgrade to its smart contract, in order to delist inactive NFTs on the platform.
In this regard, it’s necessary for all OpenSea users to migrate their NFT listings hosted on top of the Ethereum blockchain to the new smart contract.
Read Also: OpenSea Says Over 80% of Its Free NFT Mints Were Plagiarized, Spam or Fake
According to the official announcement, the upgrade became effective from 18th Feb. So, NFT listings created before this date will automatically expire within a week.
The announcement reads in part as follows:
“Beginning today, Friday, February 18 we’re upgrading the smart contract. This new upgrade will ensure old, inactive listings on Ethereum securely expire and allow us to offer new safety features in the future. This migration period will last for seven days, until Friday, February 25 at 2:00 PM ET.”
Once the migration is successfully done, the NFT listings will show the original date of posting. But failure to meet the deadline, users will be allowed to relist the delisted NFTs on the new smart contract.
In the process of migration, users will not be charged with the usual gas fees, but the old Ethereum-based smart contract will be invalidated and old offers on items will expire:
“During this migration period, old offers on items will expire, and offers made on the old smart contract will become invalid.”
Read Also: OpenSea Is Reimbursing Users Who Saw Their NFTs Snatched and Resold By Hackers
NFT Listing Migration Is a Two-Step Process
It takes a two-step process to migrate the NFT listing. First, users need to migrate to OpenSea and click on the “Migrate listings” option.
Second, users will need to click on the “Confirm” button made available next to each listing, as described in the below screenshot.
After clicking the Confirm button, a notification will confirm the migration and users will be able to view the listing with a new expiration date.
Follow us on Twitter, Facebook, Telegram, and Google News
