ChainCatcher report: Forma has announced on X that, after careful consideration, it has decided to shut down Forma Chain due to unsustainable operations. As a transition plan, Modularium and Forma NFTs will migrate to Ethereum L1 to ensure the permanent continuity of artworks and the marketplace. After migration, NFTs will remain accessible and tradable on OpenSea or other Ethereum marketplaces, and Modularium will continue serving as the exhibition platform for these collections. The team strongly recommends users withdraw their funds via the Forma bridge. Any funds not withdrawn in time will be manually migrated to an EVM-compatible chain to be announced later. The team emphasizes that user funds and NFTs are secure, and a detailed timeline and migration steps will be published soon.
Forma Chain to Shut Down, NFTs to Migrate to Ethereum L1
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Summary
Forma Chain is shutting down, with NFTs set to migrate to Ethereum L1—a key Ethereum update for crypto traders. Modularium and Forma NFTs will be transferred to ensure long-term accessibility on OpenSea and other Ethereum marketplaces. Users are advised to withdraw funds via the Forma bridge; unclaimed assets will be migrated to an EVM-compatible chain at a later date. The team suggests that Ethereum-based projects may be altcoins to watch as the migration progresses. The security of funds and NFTs is confirmed, with further details to follow.
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