Vitalik Buterin Proposes to Transfer NFTs Issued on Ethereum to Second Level Solutions
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10 September
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Vitalik Buterin, developer of Ethereum, has proposed to transfer non-fungible tokens (NFTs) issued on the Ethereum blockchain to a second-level (L2) solutions ecosystem.

With this move, Buterin aims to reduce the gas consumption of the mainnet. In particular, he has said:

"To reduce fees, we need to move NFTs to a second-level ecosystem. However, to do this properly, good L2 interoperability standards are needed so that the ecosystem doesn't get stuck on one particular solution."

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He has highlighted that the non-fungible token segment needs low fees "due to the non-financial nature of a large portion."

Existing solutions such as Arbitrum can be used to move NFTs to a second-level ecosystem.

Since this has some drawbacks, Buterin has proposed a system that allows NFTs to be transferred between accumulated platforms or backbones by issuing wrapped tokens.

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