The internet's largest marketplace for non-fungible tokens (NFTs) says the majority of the items created using its free minting tool are plagiarized works, fake collections or spam.
Earlier this week, popular NFT marketplace OpenSea announced it was limiting the number of free items users could create, or "mint," using its "Collection Manager" tool to 50 as a way to mitigate misuse. The tool allows people in the marketplace to create and list an NFT without having to pay a "gas price," or the fee that most NFT trading platforms charge to compensate for the computation energy it takes to process transactions.
But the company swiftly faced backlash from users, causing it to reverse the decision Jan. 27.
"We hear you and we're sorry," read a tweet from the company's Twitter account, adding in a reply, "We should have previewed this with you before rolling it out."
But in the Twitter statement, OpenSea revealed the initial decision to limit free items was because the company had discovered that 80 per cent of the NFTs created using this tool on its platform are stolen works, fake collections or used as spam.
"We're working through a number of solutions to ensure we support our creators while deterring bad actors," the company said. "We commit to previewing these changes with you in advance of rolling them out."
Artists have complained for months on social media that their work has been plagiarized and used by others as NFTs.
OpenSea has faced controversy before, when last year the company forced the resignation of one of its employees after they used insider knowledge of what items would appear on the front page of the marketplace and purchased those items before they appeared publicly.
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Flash floods from unusually heavy seasonal rains in Afghanistan have killed more than 300 people and destroyed over 1,000 houses, the UN food agency said Saturday.
Donald Trump is known for leveling constant and often personal attacks on top rivals such as Joe Biden. Lately, he's increasingly taking that same approach against independent U.S. presidential candidate Robert F. Kennedy Jr.
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The Biden administration said Friday that Israel's use of U.S.-provided weapons in Gaza likely violated international humanitarian law but that wartime conditions prevented U.S. officials from determining that for certain in specific airstrikes.
A judge put Beach Boys founder Brian Wilson under a court conservatorship to oversee his personal and medical affairs after the legendary songwriter's doctor reported that he has a major neurocognitive disorder.
U.S. President Joe Biden joked on Friday that he wished former president Donald Trump had injected himself with a little bleach.
Justin Trudeau says Meta is making billions off people, but taking no responsibility for the well-being of communities they profit from.
Canada is putting $76 million towards a German-led effort to help Ukraine defend itself from Russian missiles and aircraft, Defence Minister Bill Blair announced Friday.
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Sean 'Diddy' Combs on Friday asked a federal judge to dismiss a lawsuit alleging that he and two co-defendants raped a 17-year-old girl in a New York recording studio in 2003, saying it was a 'false and hideous claim' that was filed too late under the law.
The union representing WestJet Encore pilots says its members rejected the tentative deal reached last month, with just over half voting the agreement down.
The Ontario government says it will be supporting Ontario Power Generation's plan to refurbish the R. H. Saunders Generating Station on the St. Lawrence River.
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Evan Bouchard scored 5:38 into overtime and the Edmonton Oilers bounced back for a 4-3 win over the Vancouver Canucks in the second round of the Stanley Cup playoffs on Friday.
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