Can OpenSea Bring Law and Order to NFTs?

Is OpenSea bringing a little law and order to the NFT Wild West? Imagine noticing your precious Bored Ape is missing and then seeing it for sale on another marketplace. Conversely, in a decentralized and highly unregulated industry, how are shoppers to know whether an NFT is stolen?

OpenSea is updating its policy when it comes to reports of stolen NFTs. While it’s against U.S. law to knowingly buy or sell stolen property, OpenSea wants to avoid penalizing unknowing buyers while increasing protection for theft victims. It’s increasing its use of police reports to help validate true claims of stolen NFTs while tamping down on fake reports.

Author: Traciwininger

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