Wednesday, September 27, 2023
HomeOpenseaOpenSea blocks Cuban artists from the platform due to US sanctions

OpenSea blocks Cuban artists from the platform due to US sanctions

Nonfungible Token (NFT) marketplace OpenSea has kept artists and collectors out of Cuba, citing US sanctions as the main reason for its actions.

according to According to a report published by Artnet, 30 artists and collectors have been banned from the popular NFT marketplace so far. Some of the most famous artists to face the ax include renowned Havana-based artists Gabriel Guerra Bianchini and Fabrica de Arte Cubano.

The OpenSea Marketplace states in its terms of service that it expressly prohibits sanctioned individuals and individuals within sanctioned jurisdictions. It was widely known that the NFT marketplace was sticking to US sanctions and included countries such as Venezuela, Iran and Syria. However, the recent blocking of Cuban artists has added Cuba to that list.

A spokesperson for OpenSea told Cointelegraph that it “continues to comprehensively assess what other measures are needed to serve the community and comply with applicable laws.”

A Twitter profile called NFT Cuba Art revealed in early December that OpenSea had blocked them from viewing or listing their art while they still had access to their wallets. Bit Remasa founder Erich García Cruz responded that NFT collections were also banned. Cryptocuban founder Gabriel Bianchini added that the future of Web3 does not look decentralized.

Apart from OpenSea, several cryptocurrency platforms have had to shut down their services for Russian customers. European Union sanctions issued after the war In Ukraine, it started earlier this year.

Related: Aggressive Sanctions Help Save the Ecosystem: Chainalysis Executives

Although the cryptocurrency ecosystem is built on the spirit of decentralization, the majority of intermediaries and companies facilitating various services function like most centralized Web2 companies.

The cryptocurrency community was not very happy with the NFT Marketplace auctions and called for the elimination of intermediaries.another user Said We need a truly decentralized platform that doesn’t care about nationality