OpenSea reverses limits on minting after community backlash
OpenSea's critics said the policy change stifled NFT creators by trashing the ability to create unlimited collections and NFTs on the platform. NFT marketplace OpenSea has backflipped on a controversial decision to limit the number of NFTs and collections creators can mint using its smart contract.The platform previously allowed unlimited collections and items, but changed its policy to only allow five NFT collections with 50 items per collection when using OpenSea’s collection storefront contract.The unexpected announcement from OpenSea’s Twitter Support account, posted on Jan. 27, stated....
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OpenSea’s new CFO Brian Roberts faced a firestorm of complaints from the NFT community based on what he said was "inaccurately reported" comments. The world’s top nonfungible token (NFT) marketplace OpenSea has denied it intends to pursue a public listing any time soon.Chief Financial Officer (CFO) Brian Roberts sparked a public backlash this week when he told Bloomberg that “it would be foolish not to think about going public.” The statement caused an uproar among OpenSea's crypto native NFT community, many of who see a public listing of the platform as a sell out to large institutional....
Under the proposal, there would be either a 100% reimbursement via 4.97 billion new ONE tokens, or a 50% reimbursement with 2.48 billion ONE tokens. The team behind the Harmony blockchain project has proposed the minting of up to 4.97 billion worth of its native token ONE to compensate victims of the $100 million Horizon Bridge hack in June. The proposal has been met with a significant amount of backlash from members of the community, with many highlighting concerns that such a large issuance of new tokens would result in inflationary pressure on the asset and bring its value down. This....
This piece has been updated with statements issued in a new Xapo blog post. California-based bitcoin wallet provider Xapo is facing community backlash following the release of its latest product, the Xapo Debit Card. Xapo started shipping the cards on 30th July, roughly one month after its original estimated launch date. Yet the news has largely been overshadowed by the company's recently published fees and limits schedule. The schedule eventually found its way to reddit, evoking a strong response from customers who were upset to find the product would be more expensive than they....
The largest non-fungible token (NFT) marketplace by sales volume, Opensea, has announced a new “immersive and secure minting experience” by giving NFT creators the ability to showcase “collections with dedicated drop pages and greater discoverability” on Opensea’s new homepage. Moreover, the company also announced on Tuesday that the NFT marketplace will soon support the layer two (L2) protocol Arbitrum. Opensea Announces NFT Drop Improvements and Arbirtum L2 Support Opensea has made a number of changes and it just recently revamped the NFT....
The NFT marketplace has clarified its stance on creator royalties after receiving significant public backlash from an earlier post. NFT marketplace OpenSea has announced it will continue to enforce royalties across all collections going forward, following outcry from creators earlier this week for considering otherwise. On Nov. 7 OpenSea announced they were launching an on-chain tool allowing creators to enforce royalties for any new collections on the platform, but stopped short of offering the same to existing collections.At the time, the marketplace said it would be considering options....