OpenSea: over 80% free launched NFT are fake and spam
The well-known OpenSea marketplace reports that more than 80% of all non-fungible tokens that have been released for free are plagiarism, fakes, and spam.
As noted on its official Twitter account, a new restriction was recently introduced to deal with this problem. Now, each user can only release 5 collections for free, each of which must contain no more than 50 tokens.
However, this restriction lasted exactly 24 hours, following numerous users' complaints that they could not finish their NFT collections. When commenting on the removal of the innovation, the team mentioned the statistic of 80% and how they tried to overcome it.
Recall that in December 2020, OpenSea opened a free NFT creation feature called "Lazy minting. It allowed to issue tokens without paying commissions, and many users took advantage of it. Following the failed ban, the team is considering new changes, which it would like to discuss with its community in advance.
Note that the OpenSea marketplace takes extreme care of its users. Recently, it was revealed that the company compensated customers for the loss of $2 million due to an internal service bug.