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Cent CEO and cofounder Cameron Hejazi highlighted three main problems: people selling unauthorised copies of other NFTs, people making NFTs of content which does not belong to them, and people selling sets of NFTs which resemble a security.— Emil Protalinski (@EPro) February 12, 2022
He said the issues were "rampant".
The NFT marketplace where @jack sold the first tweet for $2.9M is shutting down because people keep selling copies of other NFTs, making NFTs of content which does not belong to them, or selling sets of NFTs which resemble a security.— Dare Obasanjo (@Carnage4Life) February 12, 2022
OpenSea would never.https://t.co/9SNhwrnkd6
NFT marketplace shuts down, citing rampant fakes & plagiarism— Kenn White (@kennwhite) February 12, 2022
CEO says he's “keen on protecting content-creators, and may introduce centralised controls as a short-term measure in order to re-open the marketplace, before exploring decentralised solutions.”https://t.co/odviq4V25y
Centralised controls for decentralised markets lol— Theo Priestley (@tprstly) February 12, 2022
The sooner the shitty end of NFTs collapses the better for the industry and we can move forward and build something better. Shame VCs are fuelling this trend for their own short term gain.
Awkward.— Olivier Blanchard (@OABlanchard) February 13, 2022
"The company that last year helped Jack Dorsey auction an NFT of his first tweet for $2.9 million, is temporarily halting most transactions to address “rampant” sales of fake and plagiarized tokens."
So much for NFTs being counterfeit-proof. ?https://t.co/xyuUsFy0Mg
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