almost all are plagiarism or spam – Finance – Tecnoblog

A Open Sea, the world’s largest NFT marketplace, allows its user not only to buy and sell non-fungible tokens, but also offers a tool to create (or mint) them for free. However, it appears that this functionality is being used widely to commit scams, spam and plagiarism, as the platform reported last Thursday (27).


Non-fungible tokens, or NFTs (Image: Marco Verch/Flickr)

In reality, the announcement was made to justify some changes in Open Sea’s policies. The recent change meant that platform users could only create up to five collections with 50 NFTs each using the free tool.

Open Sea lets you create NFTs for free

The function was launched in 2020, using the technique “lazy minting” to allow the creation, or “mining”, of tokens for free on the platform. This is particularly important for creators of NFTs, who often have to pay a standard fee to the blockchain network they are registering the token on.

Known as “gas fee”, this fee can be extremely expensive on popular blockchains such as Ethereum, which can reach hundreds of dollars depending on the season, network demand, availability of miners and other factors.

At Open Sea, it is possible to create the token without having to immediately pay all fees, which are then charged at different times, such as when listing one of these assets for sale, for example. However, the platform said in a statement that it had recently identified the misuse of this feature “increase exponentially”. Estimates indicate that over 80% of NFTs created with their tool were plagiarized works, fake collections and spam.

Platform recognizes NFT plagiarism problem

To address the issue, Open Sea announced that would limit the amount of NFTs users can create. Of course, the decision was not well received by his community. Several users are already complaining that they were unable to complete their collections or upload new works, leading the platform to reverse the limit and apologize to your users on the same day.

“Every decision we make, we make with our creators in mind. We originally built our shared storefront agreement to make it easier for creators to integrate into space,” Open Sea said on its official Twitter account.

“We did not take this decision lightly. We made the change to address the feedback we received from our entire community. However, we should have checked this with you guys before applying it.”

However, the most interesting thing about this narrative is the big revelation (this time with some more concrete data) that there is a growing problem involving plagiarism, fraud and NFT spam.

For example, scammers and bots target numerous legitimate creators, such as recognized digital artists and photographers, stealing their artworks and selling them on marketplaces such as Open Sea itself. PetaPixel, some breeders complained that the platform is too slow to process requests removal and offers poor support to victims of theft and fraud.

In light of all this, the project said last week that it was working on several new solutions to support your creators and prevent malicious people from abusing your free tool. “We are committed to checking these changes with you before releasing them,” Open Sea said on Twitter.

With information: Gizmodo

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