{"id":288566,"date":"2023-02-03T21:00:35","date_gmt":"2023-02-03T15:30:35","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=288566"},"modified":"2023-02-03T14:33:36","modified_gmt":"2023-02-03T09:03:36","slug":"how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\/","title":{"rendered":"How will OpenSea safeguard the NFT community after a tainted 2022?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">OpenSea has introduced a three-hour hold period to identify fraudulent transactions.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">Despite challenges by emerging platforms, OpenSea continued its dominance in the sector.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">OpenSea<\/span><span style=\"font-weight: 400;\">, the world\u2019s largest Non-Fungible Token [NFT] marketplace, has taken steps to safeguard users from hacking incidents on its platform. In a Twitter post on 2 February, OpenSea <\/span><span style=\"font-weight: 400;\">introduced <\/span><span style=\"font-weight: 400;\">a grace period wherein sellers will be prevented from accepting offers for three hours after a supposed sale.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Introducing OpenSea\u2019s 3hr Hold Period<\/p>\n<p>To mitigate theft-related risk, sellers will be prevented from accepting offers on certain items for 3 hours after some transfers and sales. But don\u2019t worry\u2013with <a href=\"https:\/\/twitter.com\/delegatecash?ref_src=twsrc%5Etfw\">@DelegateCash<\/a>, hot&lt;&gt;cold wallet transfers won&#39;t be affected<a href=\"https:\/\/twitter.com\/nanzbonanz?ref_src=twsrc%5Etfw\">@nanzbonanz<\/a>\ud83d\udcfd\ud83e\uddf5 <a href=\"https:\/\/t.co\/zjKYP7oXK4\">pic.twitter.com\/zjKYP7oXK4<\/a><\/p>\n<p>&mdash; OpenSea (@opensea) <a href=\"https:\/\/twitter.com\/opensea\/status\/1621276759932149761?ref_src=twsrc%5Etfw\">February 2, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">OpenSea stated that the extra time would help the community detect fraudulent activity and ascertain the authenticity of the transferred items.<\/span><\/p>\n<h3><b>Befouled past<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">OpenSea has faced serious concerns over the platform\u2019s security in the past. In February 2022, it was at the center of one of the biggest exploits in the NFT ecosystem. During the exploit, $1.7 million worth of NFTs were stolen from users\u2019 wallets\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">OpenSea CEO Devin Finzer <\/span><span style=\"font-weight: 400;\">acknowledged <\/span><span style=\"font-weight: 400;\">the breach and stated that users fell victim to a phishing attack where they were deceived into signing a fake contract.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Another update: over the last few hours we\u2019ve talked to dozens of people, teams, and projects across the NFT space. <a href=\"https:\/\/t.co\/fB5r3cMA1r\">https:\/\/t.co\/fB5r3cMA1r<\/a><\/p>\n<p>&mdash; dfinzer.eth | opensea (@dfinzer) <a href=\"https:\/\/twitter.com\/dfinzer\/status\/1495302784689704966?ref_src=twsrc%5Etfw\">February 20, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">In less than three months, the marketplace was hit by <\/span><span style=\"font-weight: 400;\">another <\/span><span style=\"font-weight: 400;\">hack when its discord channel was compromised. The hackers posted a fake YouTube collaboration news that included a link to a phishing site.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Do not click links in our Discord. <\/p>\n<p>We are continuing to investigate this situation and will share information as we have it. <a href=\"https:\/\/t.co\/jgtHcXifer\">https:\/\/t.co\/jgtHcXifer<\/a><\/p>\n<p>&mdash; OpenSea Support (@opensea_support) <a href=\"https:\/\/twitter.com\/opensea_support\/status\/1522521912341008384?ref_src=twsrc%5Etfw\">May 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><b>OpenSea dominance on trading front continues<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">OpenSea started its 2023 on a pleasant note with appreciable growth in key performance indicators, per data from Token Terminal. NFT trading volume on the platform shot by 64% over the last 30 days while the investors mopped up revenue gains of over 40% in the same period.\u00a0<\/span><\/p>\n<figure id=\"attachment_288567\" aria-describedby=\"caption-attachment-288567\" style=\"width: 1029px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-purple-green-1.png\"><img decoding=\"async\" class=\"size-full wp-image-288567\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-purple-green-1.png\" alt=\"\" width=\"1029\" height=\"534\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-purple-green-1.png 1029w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-purple-green-1-300x156.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-purple-green-1-1024x531.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-purple-green-1-768x399.png 768w\" sizes=\"(max-width: 1029px) 100vw, 1029px\" \/><\/a><figcaption id=\"caption-attachment-288567\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The growth in royalties paid to the creators was impressive, which could entice more enthusiasts to come onto the platform and mint their NFTs. The metric almost doubled in the last one month.\u00a0<\/span><\/p>\n<figure id=\"attachment_288569\" aria-describedby=\"caption-attachment-288569\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-green.png\"><img decoding=\"async\" class=\"size-full wp-image-288569\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-green.png\" alt=\"\" width=\"1034\" height=\"513\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-green.png 1034w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-green-300x149.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-green-1024x508.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/aniket-green-768x381.png 768w\" sizes=\"(max-width: 1034px) 100vw, 1034px\" \/><\/a><figcaption id=\"caption-attachment-288569\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n<h3><b>More competition in the days to come?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">While it&#8217;s an established fact that OpenSea is the biggest and most popular platform in the NFT marketplace ecosystem, it has seen its share of pie reduced by another emerging platform,<\/span> <span style=\"font-weight: 400;\">Blur<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, data from Dune Analytics <\/span><a href=\"https:\/\/dune.com\/sealaunch\/NFT\"><span style=\"font-weight: 400;\">revealed<\/span><\/a> <span style=\"font-weight: 400;\">that OpenSea accounted for 45% of the total volume across all NFT marketplaces. On the other hand, the three-month-old Blur marketplace occupied 37%.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OpenSea has introduced a three-hour hold period to identify fraudulent transactions. Despite challenges by emerging platforms, OpenSea continued its dominance in the sector. OpenSea, the world\u2019s largest Non-Fungible Token [NFT] marketplace, has taken steps to safeguard users from hacking incidents on its platform. In a Twitter post on 2 February, OpenSea introduced a grace period<a href=\"https:\/\/ambcrypto.com\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\/\">Continue reading <span class=\"sr-only\">&#8220;How will OpenSea safeguard the NFT community after a tainted 2022?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":288571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[66,3,4029,4,20],"tags":[],"class_list":["post-288566","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-news","category-news","category-nft","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How will OpenSea safeguard the NFT community after a tainted 2022? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"OpenSea introduced a grace period wherein sellers will be prevented from accepting offers for 3 hours after a recent transfer and sale.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How will OpenSea safeguard the NFT community after a tainted 2022? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"OpenSea has introduced a three-hour hold period to identify fraudulent transactions. Despite challenges by emerging platforms, OpenSea continued its\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-03T15:30:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/opensea-aniket-pexels.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"How will OpenSea safeguard the NFT community after a tainted 2022?\",\"datePublished\":\"2023-02-03T15:30:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\\\/\"},\"wordCount\":397,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/opensea-aniket-pexels.jpg\",\"articleSection\":[\"News\",\"News 1\",\"NFT\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/how-will-opensea-safeguard-the-nft-community-after-a-tainted-2022\\\/\",\"name\":\"How will OpenSea safeguard the NFT community after a tainted 2022? 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