Thursday, September 21, 2023
HomeOpenseaOpenSea reverses limits on minting after community backlash

OpenSea reverses limits on minting after community backlash

The Non-Fungible Token (NFT) Marketplace OpenSea has reverted to the controversial decision to limit the number of NFTs and collections authors can create using smart contracts.

The platform previously allowed unlimited collections and items, but when using OpenSea’s collection storefront contract, we changed our policy to allow only 5 NFT collections of 50 items per collection.

Unexpected announcements from OpenSea’s Twitter support account, Post On Thursday, he said the lower bound came after “addressing the feedback received about the creator tool.”

Follow-up tweets Asked The community “shares how this affects your creative flow.”

Some NFT authors argue that changes do not complete an unfinished collection, while others claim that they are creating a collection numbering in the middle. hundreds To Thousands..

One creator using Hamster NFT on Twitter shared a screenshot showing that he couldn’t upload any more NFTs and complained that he was only 96 out of 100 collections.

Creators can deploy their own smart contracts to get around the restrictions imposed by OpenSea, but use smart contract deployments. Costing Gas prices range from $ 1,000 to $ 2,000 Several They said they would move their collection to Competing marketplaces..

OpenSea overturned the decision on Friday, Tweet We apologize for not previewing the decision in the community. The reason for the limitation is that smart contracts have been abused and “more than 80% of the items created with this tool were plagiarized works, fake collections and spam”. “We are working on a variety of solutions to ensure that we support creators while stopping malicious people,” OpenSea added.

In another controversy, OpenSea users who still have an “inactive list” in their account were sent an email asking them to cancel the old list for the following reasons: Recently discovered exploit This allows an attacker to buy an NFT at the old list price.

Related: More Evidence Game developers hate NFTs and crypto

Famous crypto Twitter influencer Dingaling caveat Following OpenSea’s email advice makes it easier to run exploits, with more than 75,000 followers who say that the advice from OpenSea is “incredibly irresponsible” and “makes things 100 times worse.”

By following OpenSea’s advice, Dingaling will allow exploits to display canceled orders for previously listed prices on the blockchain, allowing attackers to execute orders prior to cancellation in a manner known as “front running.” Claims that you can pay a higher gas price. Cheaper price NFT.

To prevent this, Dingaling recommends that “before canceling the live list of the original address, first forward all NFTs with an” inactive Opensea list “from the address.”

“It’s only when all the lists are canceled that you can safely transfer them,” they said.

However, OpenSea handle These issues change the default list duration from 6 months to 1 month, create a dashboard that shows the list to the user, and the NFT transferred from the wallet has an active list associated with it. It is caused by warning the user.

The changes are made to make it easier for users to view the list associated with the NFT and receive alerts, and are trying to limit the number of lists that remain active after being associated.