{"id":213451,"date":"2022-01-29T02:00:19","date_gmt":"2022-01-29T02:00:19","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=213451"},"modified":"2022-03-22T22:29:29","modified_gmt":"2022-03-22T22:29:29","slug":"opensea-pulls-back-its-controversial-nft-minting-limit-decision","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/opensea-pulls-back-its-controversial-nft-minting-limit-decision\/","title":{"rendered":"OpenSea pulls back its controversial NFT minting limit decision"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Following community backlash, <\/span><a href=\"https:\/\/cryptoslate.com\/products\/opensea\/\"><span style=\"font-weight: 400;\">OpenSea<\/span><\/a><span style=\"font-weight: 400;\"> decided to reverse its decision on limiting free NFT minting using its collection storefront contract.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The world's top NFT marketplace previously allowed unlimited mints, however, changed its policy and set a cap at five NFT collections with 50 items per collection.\u00a0<\/span><\/p>\n<h2><strong>Backpedal\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The NFT marketplace apologetically announced on Twitter it is revoking the 50 item limit recently added to its free minting tool.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">To all the creators in our community impacted by the 50 item limit we added to our free minting tool, we hear you and we&#39;re sorry. <\/p>\n<p>We have reversed the decision. <br \/>But we also want to offer an explanation \u21af <a href=\"https:\/\/t.co\/Y3igaE1RM2\">pic.twitter.com\/Y3igaE1RM2<\/a><\/p>\n<p>&mdash; OpenSea (@opensea) <a href=\"https:\/\/twitter.com\/opensea\/status\/1486843201352716289?ref_src=twsrc%5Etfw\">January 27, 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;\">\u201cWe hear you and we're sorry. We have reversed the decision,\u201d wrote OpenSea, offering a detailed explanation for imposing the limit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The platform\u2019s free minting tool enabled users to create NFTs without worrying about costs, however, according to OpenSea, the feature ended up being heavily abused.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Minting NFTs is a way for artists to monetize their work, and the platform explained it originally built the shared storefront contract to \u201cmake it easy for creators to onboard into the space.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unfortunately, OpenSea claims, \u201cover 80% of the items created with this tool were plagiarized works, fake collections, and spam.\u201d<\/span><\/p>\n<h2><strong>Backlash\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The platform introduced the limit in order to curb the misuse, but failed to run the decision by the community before rolling it out.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Opensea once again showing how they don\u2019t care for their creators and only care for profits!  Do you even realize that this is against everything Web 3.0 independent artists stand for? This will severely impact 1:1 artists.<\/p>\n<p>&mdash; Women Rise NFT (@WomenriseNFT) <a href=\"https:\/\/twitter.com\/WomenriseNFT\/status\/1486770176733417473?ref_src=twsrc%5Etfw\">January 27, 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;\">Many creators criticized the decision, outraged by the fact that there was no warning ahead\u2013leaving them completely blindsided and in the middle of uncompleted collections.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I am literally 1 away from my final piece in the project, almost made it \ud83e\udd37\u200d\u2640\ufe0f <a href=\"https:\/\/t.co\/hKniY1vESm\">pic.twitter.com\/hKniY1vESm<\/a><\/p>\n<p>&mdash; Seal Club NFT (@SealClub_NFT) <a href=\"https:\/\/twitter.com\/SealClub_NFT\/status\/1486692347471618048?ref_src=twsrc%5Etfw\">January 27, 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;\">While announcing the reversal, OpenSea assured it will continue to work on solutions for \u201cdeterring bad actors,\u201d but committed to previewing any future changes with the community ahead of rolling them out.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">OpenSea started the year strong. Already in mid-January the platform <\/span><a href=\"https:\/\/cryptoslate.com\/opensea-transaction-volume-spikes-to-new-ath\/\"><span style=\"font-weight: 400;\">broke<\/span><\/a><span style=\"font-weight: 400;\"> its monthly transaction volume record of $3.5 billion with two weeks left to spare.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the platform is apparently struggling with open communication.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe wish we had been clearer and more proactive in educating users on the risks of leaving orders uncancelled before transferring an NFT,\u201d wrote OpenSea in its official blog this week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the blog, the platform <\/span><a href=\"https:\/\/opensea.io\/blog\/safety-security\/important-updates-for-listing-and-delisting-your-nfts\/\"><span style=\"font-weight: 400;\">released<\/span><\/a><span style=\"font-weight: 400;\"> important updates for listing and delisting NFTs\u2013faced with an issue that allowed bad actors to buy NFTs for old listing prices.<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cWe understand the community\u2019s frustration that we haven\u2019t been more public in our communication on this topic. Simply put, we were concerned that the more attention we drew to this mechanism, the more it could be abused by bad actors. As a result, we focused our efforts on reaching out 1:1 with affected users rather than announcing this news more broadly,\u201d explained OpenSea.<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Following community backlash, OpenSea decided to reverse its decision on limiting free NFT minting using its collection storefront contract. The world&#8217;s top NFT marketplace previously allowed unlimited mints, however, changed its policy and set a cap at five NFT collections with 50 items per collection.\u00a0 Backpedal\u00a0 The NFT marketplace apologetically announced on Twitter it is [&hellip;]<\/p>\n","protected":false},"author":699,"featured_media":213466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76232],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OpenSea pulls back its controversial NFT minting limit decision<\/title>\n<meta name=\"description\" content=\"Following community backlash, OpenSea decided to reverse its decision on limiting free NFT minting using its collection storefront contract.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/opensea-pulls-back-its-controversial-nft-minting-limit-decision\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OpenSea pulls back its controversial NFT minting limit decision\" \/>\n<meta property=\"og:description\" content=\"Following community backlash, OpenSea decided to reverse its decision on limiting free NFT minting using its collection storefront contract.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/opensea-pulls-back-its-controversial-nft-minting-limit-decision\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-29T02:00:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-22T22:29:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/opensea-nft.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ana Grabundzija\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Grabundzija\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/opensea-pulls-back-its-controversial-nft-minting-limit-decision\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/opensea-pulls-back-its-controversial-nft-minting-limit-decision\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#person\",\"name\":\"Ana Grabundzija\",\"url\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"caption\":\"Ana Grabundzija\"},\"jobTitle\":\"Journalist\",\"description\":\"Dr. Ana Grabundzija is a Zagreb-bred writer with an academic background in anthropology. 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In her Ph.D., she focused on the diffusion and adoption of new technologies. Her research on the spread of technological innovation in ancient societies led to a modern-day fascination with crypto and it\u2019s real-time evolution. She is currently based in Berlin immersed in the vibrant scenes of both Crypto and Techno.","url":"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/213451"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/699"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=213451"}],"version-history":[{"count":3,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/213451\/revisions"}],"predecessor-version":[{"id":213468,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/213451\/revisions\/213468"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/213466"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=213451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=213451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=213451"},{"taxonomy":"prediction_market_topic","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/prediction_market_topic?post=213451"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=213451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}