We have been reading and listening to a multitude of information related to NFTs for several weeks. And it is that there are more and more companies and users who, in one way or another, are entering this market of digital goods, with as many followers as detractors.
When we refer to the acronym NFT, corresponding to Non Fungible Token, we are actually talking about a series of digital assets with a certain value. These goods can be obtained or exchanged through various platforms especially indicated for all this. As we mentioned before, they have a high number of followers and users that is growing, but at the same time many others are against them, as is the case with cryptocurrencies.
A multitude of companies are entering this type of market, although some, such as those related to video games , are receiving a lot of criticism for it. Be that as it may, many of these firms see NFTs as an interesting trend for the future with which they must start working as soon as possible. Well, we mention all this to you because now it has been possible to know an unfortunate information related to one of the main decentralized markets for this type of digital elements, among others.
OpenSea itself has recently revealed that more than 80% of its free NFTs were plagiarized, spam or fake . The importance of all this mainly because OpenSea is considered the largest market for non-fungible tokens or NFTs in the world. For all these reasons, this recent news that has been published on Twitter has caused a stir among the community.
It is worth mentioning that this free NFT minting feature called Lazy Minting started in December 2020, but changes were made later.
Some of OpenSea’s NFTs are fake
It must be said that this movement that we mentioned to you was carried out to allow artists to release NFT without paying the costs in advance. Of course, to combat the misuse of free mintage of these digital items, Open Sea introduced a new rule that limited free mintage to only five collections of up to 50 NFT each. But from that moment on, users began to report that they couldn’t finish their collections.
Precisely for this reason OpenSea has now reversed its decision to impose this limit. Thus, it is now working on a series of solutions to ensure support for creators while avoiding malicious users. The platform is facing backlash from the community for this limit and for failing to prevent fraudulent transactions. To this is also added that it has other problems. These are related to the platform‘s user interface causing some NFTs to appear thousands of dollars below market price.
Precisely because of this last bug that we mentioned, some malicious users try to take advantage of the situation. Although the firm started 2022 with strong NFT sales, users have started looking to other platforms due to these mentioned issues. With everything and with it, there is no doubt that we are facing a trend in clear ascendancy. Of course, we are referring specifically to the NFT market.