The popularity of NFTs (non-fungible tokens), which means the storage, protection and digital certification of assets on the internet with the blockchain, is increasing day by day. Many giant companies are trying to increase their investments in this situation. As an example, we have conveyed to you that Reddit and Twitter have made new NFT features available. In addition, news that social media platforms such as Facebook and Instagram are planning to add NFTs to their applications came in the past days.
As can be expected, as the popularity of these digital assets increases, illegal acts such as fraud and theft also increase. The platform called OpeSsea, created for the trading of NFTs, is also one of the largest NFT markets in the world. Now, this giant platform has released new data about the dark side of NFTs in its new statements.
More than 80% of the works are fake or plagiarized.
The statements made by OpenSea revealed how much of the NFTs on the platform involve fraud and theft, while also revealing how this situation can pose risks. . According to the company, 80% of NFTs created for free on the platform, nearly all of which are fake or stolen from other NFTs, are created and offered for sale.
These statements of the company came after a decision taken on Thursday. OpenSea has announced that it will limit the number of NFTs that can be created on the platform to 50 for free. This decision was met with great reaction from NFT manufacturers. After the criticism, the company announced that it would abandon the limitation decision and made a statement about the reasons for this decision.
In the statements made on Twitter, “We take our decisions by considering our NFT manufacturers. We have recently observed a malicious use of the free mint feature (processing artifacts to the blockchain) available on our platform. More than 80% of the items created with this tool were plagiarized artifacts, counterfeit collectibles and spam”, revealing the frightening situation in the world’s most popular NFT market. In addition, OpenSea added that they are working on a series of solutions to combat these frauds.
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