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OpenSea Implements NFT Preferential Protection Measure to Fight Fraudulence

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OpenSea Implements NFT Preferential Protection Measure to Fight Fraudulence

On March 14, the NFT market OpenSea announced on social media that its platform had added an NFT preferential protection measure to minimize suspicious activities on its platform. For some transactions that are valid at the time of quotation but are later marked as stolen NFT, OpenSea will check the status of NFT items before accepting the quotation. OpenSea said that this mechanism has been included in the Seaport 1.4 version update. If the NFT status changes (such as being marked as stolen NFT), the transaction will be rejected.

OpenSea will check the NFT project status before accepting the quotation

Analysis based on this information:


The NFT market has been mushrooming lately, with artists and creators venturing into the world of blockchain to sell their unique works as non-fungible tokens. However, the ongoing craze around NFTs has also attracted the attention of hackers and fraudsters who seek to exploit the unregulated and anonymous nature of cryptocurrency transactions.

To combat this issue, OpenSea, one of the leading NFT marketplaces, has recently announced a new feature to minimize suspicious activities on their platform. The company took to social media on March 14 to unveil their NFT preferential protection measure, which aims to ensure the legitimacy of all transactions made via OpenSea.

The new mechanism comes as a part of the Seaport 1.4 version update and is primarily designed to detect any stolen NFTs that may have been listed on the platform. For some transactions that were valid at the time of quotation but later marked as stolen NFT, OpenSea will now check the status of the NFT items before accepting the quotation. In case the NFT status has changed and marked as stolen, the transaction will be rejected.

This move by OpenSea is commendable and should be welcomed by the NFT community, as the prevalence of fake and stolen NFTs has alarmed many investors and buyers in recent months. With the new NFT preferential protection feature, OpenSea aims to add an extra layer of security and credibility to the NFT market. By screening all transactions and preventing any fraudulent activity, OpenSea can become a trusted platform where buyers and sellers can exchange NFTs with confidence.

In conclusion, OpenSea’s decision to implement a preferential protection measure to minimize suspicious activities on its platform is a positive step towards fighting fraudulence in the NFT market. As the popularity of NFTs continues to grow, it is crucial to have secure and trustworthy platforms like OpenSea to support the NFT ecosystem’s growth. Such measures will undoubtedly help in the long run to make the NFT market a more stable, secure, and reliable space for creators and investors.

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