Abstract Fugz has officially announced its migration to Ethereum (ETH), marking another major NFT collection making the move to the original blockchain.
Why Migrate to Ethereum?
The team cited two primary reasons for the migration:
- To align with Ethereum’s stronger infrastructure, larger collector pool, and more established NFT ecosystem befitting a digital art and IP collection.
- Ethereum presents greater long-term growth potential compared to Abstract.
This move reflects a growing trend of NFT collections returning to their roots on Ethereum mainnet.
The Decline of L2 NFT Markets
It wasn’t long ago that Layer 2 (L2) solutions were heavily favored for their low gas fees. However, the landscape has shifted significantly:
- L2 tokens have struggled with price stability — performing even worse than ETH in terms of value retention.
- NFT trading volumes on L2 networks have been steadily declining.
- These factors are pushing collections back toward Ethereum mainnet for credibility and liquidity.
What About the Abstract Community?
Interestingly, many Abstract users weren’t purchasing NFTs for the art itself — they were farming XP points within the ecosystem. With the migration to Ethereum, it raises the question: will these incentive-driven users follow the collection, or will they simply move on to the next XP opportunity?
The collection is now available on OpenSea. This migration signals a broader industry reality — low fees alone are no longer enough to sustain a thriving NFT ecosystem.
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