NFT marketplace OpenSea has announced that some features and experiences might be unavailable for several hours on its platform, starting from February 25.
This announcement came following the end of a week-long ultimatum given to users by OpenSea to migrate their non-fungible token (NFT) listing to a new smart contract.
OpenSea tweeted some perks of the new contract upgrade, including bulk cancellations and more descriptive signatures.
According to the announcement, users “may not be able to see active, migrated listings even though they have migrated them, and floor prices may temporarily vary.”
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The NFT marketplace also temporarily disabled the ability to bid or purchase migrated items until the migration is completed to protect the listing.
OpenSea first urged its users to migrate to its new contract on Saturday in order to allow the marketplace to identify and remove inactive listings. The migration did not require gas fees.
However, shortly after the window for migration was opened, the marketplace suffered a phishing attack from hackers, who stole millions of dollars worth of non-fungible tokens (NFTs) belonging to 17 members of the OpenSea NFT marketplace.