The world’s largest NFT marketplace, OpenSea has just reverted their 50 item limit on their free minting tool. This move happened after OpenSea users publicly condemned this cap.
Up until the introduction of this cap, the platform allowed NFT project owners to list unlimited collections and items. However, this cap meant that NFT creators could only list five NFT collections with 50 items per collection when using OpenSea’s collection storefront contract.
Users were already disgruntled because of the high gas fees associated with smart contract deployment. After the introduction of this cap, some users threatened to move their NFTs to another marketplace. This feeling was amplified after OpenSea made headlines because of a listings-related bug that negatively impacted NFT creators. Unfortunately, OpenSea made matters worse by asking collectors to cancel their old listings.
OpenSea released a lengthy statement on Twitter. The platform defended its decision by stating that bad actors were misusing the shared storefront contract feature. According to OpenSea, over 80% of the items created with this tool turned out to be plagiarized works, fake collections, and spam.
The team continued by saying: “We’re working through a number of solutions to ensure we support our creators while deterring bad actors. We commit to previewing these changes with you in advance of rolling them out. Please give us feedback along the way.”
OpenSea is currently the go-to NFT marketplace for NFT collectors and project owners. In the first few weeks of 2022, the NFT giant has already managed to cross one million active user wallets on the platform. However, after a series of mishaps, many NFT creators and collectors are now questioning OpenSea’s future.