NFT marketplace OpenSea is seeking to tailor its policy to incorporate additional measures against stolen items, but will it be enough? (Reporting via ezrareguerra)
space, NFT marketplace OpenSea is making an effort to tailor its policy to incorporate additional measures against stolen items.
In an announcement, the firm highlighted that its policies were made considering United States laws, where knowingly allowing the sale of stolen items is prohibited. However, the marketplacethat in some cases, buyers who unknowingly bought stolen items were penalized even though they were not at fault. Because of this and the NFT community’s feedback, the marketplace has adjusted its policy to expand the use of police reports.
Previously, police reports were used within the platform in escalated disputes. With the new update, they will be used to confirm all stolen item reports within the NFT platform. Without a police report within seven days, the platform will enable the buying and selling of the reported item again to avoid fake reports. Following this, the company has also made efforts to ease the process of re-enabling the buying and selling features once the stolen items are recovered.
The NFT platform also highlighted that it’s working to find other solutions to tackle the problem of NFT theft at its roots. According to the announcement, the company is working on automating threat and theft detection.the move, describing it as a good first step and encouraged other platforms to follow suit while suggesting the consideration of the nuances of laws from other countries as well.
That’s funny because when my NFT was stolen, both Opensea and the NFT Company that created it, pretty much told me to go to hell. What a change in attitude. I guess it only matters when 1000s of people are complaining
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