Marketplace Cent, which helped Jack Dorsey sell his first tweet as NFTs for $2.9 million last year, has temporarily halted most transactions. This is due to the need to deal with the “rampant” sale of fake or stolen works.
On Friday, CEO Cameron Hejazi said Archyde.comthat Cent stopped being able to buy and sell most NFTs as early as February 6th. The company is still active in its market Valuableswhere tweet tokens are sold, but everything else is closed.
The range of activities that are taking place now simply should not take place – within the framework of the law.
Cameron added that Cent tried to ban violators, but compared the process to a game of “hit the mole”. As soon as they manage to ban one, another appears … or three at once.
Last month, OpenSea, the largest NFT marketplace on the web, admitted that more than 80 percent of all newly created tokens using the free tool, were stolen works by artists, fake or spam. In this regard, the company even had to limit the number of NFTs that can be created for free, but later the decision was withdrawn in favor of alternative options for countering fraudsters.
Prior to being recognized by OpenSea, artists literally complained for months about massive plagiarism of their work and exposure on this site and other NFT platforms. The vast majority of platforms do not care about the problems of artists and when developing their systems, they did not even implement tools for checking the authenticity of works.
In a conversation with Archyde.com, the head of Cent admitted that fundamentally all this demonstrates the main problem of web3. In this connection, the site is thinking about introducing centralized control in order to fight mass plagiarism.