The NFT marketplace has suspended most transactions due to the
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The NFT marketplace has suspended most transactions due to the influx of fakes and plagiarism

Cent, which helped former Twitter CEO Jack Dorsey sell the first tweet for $2.9 million at an NFT auction less than a year ago, announced a temporary suspension of almost all transactions on its marketplace to avoid the to stop the uncontrolled spread of counterfeits and plagiarism in tokens.

Image Source: Pete Linforth / pixabay.com

Image Source: Pete Linforth / pixabay.com

In conversation with journalists from the agency Reuters Cent head Cameron Hejazi said that on February 6, the ability to sell and buy most NFTs on the company’s marketplace was disabled, leaving platform users only the ability to trade tweets. The administration of the service has stopped dealing with the avalanche of digital goods outside the legal realm, according to Mr. Hejazi: “Every time we blocked one [лот]there was one more or even three”.

A few weeks ago, the largest NFT marketplace, OpenSea, reported that more than 80% of the tokens generated with its free tool were associated with plagiarism, fake collections, and spam. In an attempt to respond to numerous complaints from artists and photographers, the platform decided to restrict the operation of this tool, but faced strong opposition from the public. According to Mr. Hejazi, this problem is fundamental to Web3 and to overcome it in the early stages it may be necessary to use centralized tools that contradict the very idea.

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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