They may be loud voices, but do they matter? Some crypto natives on Twitter complained about the loss of decentralization: “ true decentralized ownership no one should be able to step in.” But the question is whether there are enough of those people to make a mass market.It’s ironic: Isn’t the whole point of an NFT is to signal the certified owner of a digital artifact? The industry may need to implement better security measures, especially for high-priced NFTs, which can often sell for more than $1 million each.It's sometimes a natural consequence of real users with real needs/problems,” Sameer Singh, a startup investor, wrote on Twitter. Those are easiest to implement in a centralized environment. While early adopters will gladly spend on Bored Apes and dog-meme coins, and accept the risk that comes along with them, mainstream consumers will be wary of buying NFTs or altcoins without some basic fraud protections.To go mainstream, NFTs and other crypto products will need more ways to fight fraud and theft. Kramer’s deleted tweet is now an NFT, of course.ĭecentralization is great until it’s not.“We do not have the power to freeze or delist NFTs that exist on these blockchains, however we do disable the ability to use OpenSea to buy or sell stolen items,” a company representative told ARTNews. OpenSea pointed out that freezing the NFTs on its marketplace doesn't mean they can't be swapped directly on the blockchain.Kramer said he’d been phished and the NFTs were stolen from his hot wallet. The NFTs in question were reportedly stolen, according to tweets by Todd Kramer of New York’s Ross+Kramer art gallery. ![]() The funding came as OpenSea froze the sale of 16 NFTs on its platform - a collection that included eight Bored Ape Yacht Club NFTs, seven Mutant Ape Yacht Club NFTs and one Clonex NFT.Its backers include Andreessen Horowitz and the Coatue hedge fund. After raising $300 million in new funding, the NFT marketplace is now worth $13.3 billion. OpenSea is the new flashpoint of this debate. That model is being tested as investment floods the market and mass advertising campaigns lure in curious consumers who are more interested in the financial buzz than blockchain pieties. In the crypto world, everything is decentralized, right? Well, maybe. ![]() 'You’re frozen/ When your protocol’s not open'
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