OpenSea is the “Ebay” of NFT’s that hosts many different projects for sale by the owner of the collection or single unit. These projects are submitted by the user and OpenSea takes a portion of the sale for serving as the middle-man.
Recently with the craze of CryptoPunks and a single unit selling for almost $100 million, there have been many fan projects popping up offering these punks at a cheaper price on other sidechains like Polygon or Solana.
The most successful being solpunks, shitpunks and polygonpunks, all selling out very quickly and reselling at a premium. The latter of the projects was listed on OpenSea and quickly after minting, then was taken from the store leaving the new owners blind and not having any way to trade or sell these punks without direct interaction and trading between users. This all happened after polygonpunks reached its peak trade volume of over $75,000 or 30.9 ETH.
PolygonPunks and it’s Controversial Takedown from OpenSea
Below is a quick description of why these punks were removed from the store from Nate Chastain of OpenSea.
Users quickly began brigading the OpenSea discord channel to get answers and the channel was blocked from any users further joining the channel to discuss the issue.
Will this be the trend for OpenSea and other blockchain centered NFT reselling platforms? We can hope that this is not the case. If you were to list a copy of something on Ebay would you expect them to remove your item from the store because you were not the original creator, or the item itself was not an original?
Updated: Currently the PolygonPunks have been migrated over to NFTrade as a temporary solution.
Article written by TUKYO
