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$TIA Forma Chain Ceases Operation, NFTs and Assets Migrated to Ethereum
Forma Chain, a blockchain built on Astria and Celestia, announced it will cease operations and migrate its assets to Ethereum L1.
🔸 Modularium and Forma NFTs will be migrated to Ethereum $ETH to ensure the permanent existence of the project and marketplace. NFTs will be tradable on OpenSea and other Ethereum marketplaces after the migration.
🔸 The team encourages users to withdraw funds via the Forma bridge; any unwithdrawn funds will be manually migrated to the EVM-compatible chain.
👉 Forma Chain was one of the blockchains specializing in NFTs and the creator economy, but its shutdown shows that specialized Layer 1/2 projects struggle to maintain operations during a downturn. This further reinforces Ethereum's position as a "safe platform" for digital assets, as failed projects often choose Ethereum as the final destination for their assets and data.
💬 Do you think Ethereum is the ultimate destination for digital assets once other blockchains shut down?
News is for reference, not investment advice. Please read carefully before making a decision.
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