NFTMARKET

OpenSea updates self-service publishing tool "Drops" and introduces a three-hour holding protection mechanism to combat theft.

share
OpenSea updates self-service publishing tool "Drops" and introduces a three-hour holding protection mechanism to combat theft.

The new "3hr Hold Period" feature on OpenSea seems promising in eliminating the chaos of users mistakenly purchasing stolen NFTs. The self-service publishing tool "Drops" previously introduced will also gradually be made available to more users. Currently, OpenSea's version of tax protection has been breached by strong competitor Blur.

Three-Hour Holding Protection Mechanism

In order to reduce the risk of theft, certain NFTs will not be able to accept offers within three hours of abnormal transfers or sales. However, holders can still transfer between cold and hot wallets using Delegate Cash.

Delegate Cash is a decentralized registration mechanism that links to wallets trusted by users. OpenSea reads information from users' registration lists, allowing users to make transfers.

Why Three Hours?

OpenSea explains that rapid transfers and sales through the bidding mechanism for NFTs may indicate suspicious activity. The three-hour timeframe helps OpenSea and users discover stolen NFTs and reduces the likelihood of users purchasing stolen NFTs.

讓NFT的空投權利可以販賣！什麼是流動性委任(Liquid Delegate)？

"Drops" Feature Gradually Open to All

"Drops" is a creator self-publishing tool launched by OpenSea. Introduced in September last year, the page allows for the publication of project content, including project introductions, team members, teaser videos, NFT galleries, and roadmaps, enabling users to clearly understand the features and plans of the project.

The page also includes a minting schedule, countdown, and even the ability to set alarms and whitelists, sending email notifications when minting begins. Initially, OpenSea only made "Drops" available to specific NFT creators and has collaborated with 20 NFT teams since its launch.

Now, "Drops" supports creators in deploying smart contracts on all supported EVM chains and plans to gradually open to more creators in the coming weeks.

Blur vs. OpenSea

NFT marketplace Blur has closely followed OpenSea in trading volume since its launch, immediately becoming one of its major competitors.

In November last year, OpenSea introduced a royalty enforcement tool through its open market protocol "Seaport." After its implementation, NFT projects on OpenSea could not be traded on other platforms without royalty enforcement, effectively blocking markets like Looksrare, MagicEden, Blur, etc.

Days later, Blur announced that they would start charging royalties for newly listed projects and continue to incentivize all projects to charge royalties, requesting OpenSea to remove Blur from its blacklist. However, OpenSea rejected Blur's claim that it did not protect all creators' royalties.

Nevertheless, Blur has created a new trading mechanism through Seaport to bypass OpenSea's blacklist. Since Seaport is not on OpenSea's blacklist, and awkwardly, OpenSea, as the initiator and stakeholder of Seaport, cannot blacklist it.

Previously, Blur planned to launch the BLUR token at the end of January but announced on 1/20 that it would be delayed until 2/14.

Reference: https://twitter.com/pandajackson42/status/1620081518575235073