Leading NFT marketplace, OpenSea has reversed its earlier change of policy that limits the number of NFT collection creators can mint to five collections and fifty NFTs per collection.
The NFT marketplace posted a Tweet earlier on Thursday about the update.
“To address feedback we’ve received about our creator tools, we updated our collection storefront contract limits to only support the creation of up to 5 collections and 50 items per collection.”
In the last 24 hours, bitcoin has been up by 0.04%, with a current price of $36,571.12 as of the time of writing this. Within 24 hours, bitcoin dropped to $35,551.81 low and $37,505.81 high. The trading volume of bitcoin in the last 24 hours is $1.28B. The current market capitalization of bitcoin is $692.41B. Currently, $18.94M bitcoins are in circulation.
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However, after heavy backlash, OpenSea succumbed to the pressure of creators who took to Twitter to vent their frustrations, criticize the move and threaten to migrate to competitors’ marketplace.
In a new Tweet on Friday, OpenSea reversed the update, stating that the reason for the update was that creators are misusing the space to create “plagiarized works, fake collections, and spam.”
“To all the creators in our community impacted by the 50 item limit we added to our free minting tool, we hear you and we’re sorry. We have reversed the decision.”
OpenSea is the first and largest NFT marketplace, where NFT buyers and creators can buy, sell or create NFTs.