This new feature makes MetaMask the first self-custody web3 wallet to integrate native security alerts, proactively preventing malicious transactions, protecting users from scams, phishing, and hacks,

MetaMask Adds Privacy-Preserving Security Alerts That Aims to Prevent Billions from Being Stolen

OKX, a leading Web3 technology company, has issued updates for. OKX Wallet Now Integrated with Scallop and Offers Extra Yield For a Limited Time OKX

Flash News: OKX Wallet Now Integrated with Scallop and Offers Extra Yield For a Limited Time

In April 2023, MetaMask and Blockaid jointly introduced Opensea security alerts as an experimental opt-in feature. This feature garnered adoption from an average of 4 per cent of MetaMask users and effectively averted asset theft valued at $500 million ...

MetaMask Adds Privacy-Preserving Security Alerts In MetaMask Extension

In April 2023, MetaMask and Blockaid collaborated to jointly launch Opensea security alerts as an opt-in experimental feature. Why Does It Matter: Without impacting user privacy, MetaMask’s feature targets to prevent malicious transactions and protect ...

MetaMask's Collaboration With Blockaid Unleashes A Web3 Wallet To Integrate Security Alerts

MetaMask, a world-leading self-custody web3 platform developed by Consensys, and Blockaid, a leading web3 security provider, Tuesday, announced the launch of privacy-preserving security alerts in the MetaMask extension.

MetaMask launches privacy-preserving security alerts to prevent online assets theft

MetaMask, in collaboration with Blockaid, a leading web3 security provider, launches security alerts that help stop malicious transactions before they happen, protecting users from scams, phishing, and hacks.

MetaMask adds privacy-preserving security alerts to prevent billions from being stolen

The popular Web3 wallet is rolling out a new feature to enhance user protection against scams, phishing attempts, and hacking events.

MetaMask Launches New Security Alerts Feature With Blockaid

OKX, a leading Web3 technology company, celebrates the 100th anniversary of the founding of the Republic of Türkiye. OKX Celebrates Republic of Türkiye's 100th Anniversary and Launches Commemorative NFT Collection In celebration of the Republic of Türkiye's 100th Anniversary,

Flash News: OKX Celebrates Republic of Türkiye's 100th Anniversary and Launches Commemorative NFT Collection

OKX, a leading Web3 technology company, celebrates the 100th anniversary of the founding of the Republic of Türkiye.

Flash News: OKX Celebrates Republic of Türkiye's 100th Anniversary and Launches ...

Get the most recent info and news about OpenSea on HackerNoon, where 10k+ technologists publish stories for 4M+ monthly readers.

OpenSea

Robbie Acres, an active NFT trader, successfully processed 722 trades on OpenSea from January last year until one sunny day when the world's leading NFT marketplace locked his account for more than 3 months as a seemingly protective measure against NFT fraud. I was astounded when Robbie stumbled across me on LinkedIn with his jaw-dropping story. He wanted to shed light within the crypto and NFT communities that OpenSea might not be as reliable or secure of a go-to hub for buying and selling NFTs as it claims. It left me scratching my head, wondering if OpenSea is more focused on cashing out than safety precautions. Robbie wonders how a service that markets itself as the leading platform to buy and sell NFTs can implement a shoddy support system and mediocre technology solutions to minimize risk. After performing the due diligence on the evidence provided (the timestamped screenshots of Robbie's communication with the OpenSea support team in a period between July 12th and October 28th, 2022), I decided to advocate for him at HackerNoon. Here's a story of David vs. Goliath. On July 12th, 2022, Robbie discovered that two of his high-value digital assets had been snatched from his wallet. As time was of the essence, with zero doubts about what would come next, he quickly took to email in search of a resolution - and he got it: an automatic response confirming his complaint had been recorded, with ticket #631600 assigned. The customer support team promised they were doing all within their power to respond swiftly despite the (rather large) volume of inquiries at that moment; responses could take up to one week. Little did our hero know what nightmarish journey lay ahead and how reality would crash down on him with full force: this so-called progressive web3 company would be as old school in its operations as any other good ol' fashioned web2 business out there – profits before people! Robbie knew he had to take action fast, so before sending out the initial message about his missing NFTs, he took extra steps like flagging and reporting them. But unfortunately, it didn't quite work out as planned. At first, OpenSea support detected a mismatch between emails in Robbie's account registration and ticket creation. After some quick thinking, the OpenSea support rep was able to suggest how Robbie could get things sorted – either by re-submitting another ticket or linking up that email. Having sorted the email mismatch issue, Robbie discovered further that both stolen items had already been resold on OpenSea since his initial request. Frustrated and believing OpenSea bore some responsibility for what had occurred, Robbie noted that OpenSea should be liable for monetary damages. In response, the platform locked his account without his request or permission. He repeatedly requested that his account be unlocked. However, OpenSea refused to do so for 3.5 months, making it impossible to trade his 58 high-value NFTs, transfer them to another wallet, or otherwise manage his assets. On top of that, OpenSea demanded that he swore under oath that his wallet had not been compromised (meaning OpenSea would not be liable) to unlock his assets. Yes, read perjury between the lines – the act of willfully making a false statement under oath. "OpenSea tried to extort a liability waiver from me to unlock my NFTs, although I had never requested or consented to be locked," says Robbie. "OpenSea essentially took control of 58 NFTs owned by me, and in which the platform had no interest, as leverage to force me into a settlement where OpenSea would pay no compensation for (1) failure to protect NFTs on the platform, (2) unlawfully taking control of my NFTs, (3) refusing to give me back my NFTs after many repeated demands to do so and (4) creating massive losses by holding my NFTs hostage during significant market fluctuations." Growing tensions between Robbie and the OpenSea support team eventually led the first to start legal proceedings against the latter. "OpenSea is aware of the vulnerabilities of its platform to hackers and others. Hundreds of millions of dollars worth of NFTs have been stolen from OpenSea users." While OpenSea account owners obviously need to show vigilance in protecting their wallets from malicious actors, most OpenSea users need more information about how NFT theft can and does occur. "OpenSea has access to the information necessary to protect its users but doesn't do enough to implement technology solutions to reduce risk. It is the platform where NFTs stolen elsewhere can be sold to third parties, with OpenSea securing transaction fees of 2.5% for each sale of the stolen asset. Yet, my experience shows that OpenSea is unresponsive or, worse, opportunistic in dealing with its NFT customers who need the platform's assistance after a hack or theft. OpenSea simply doesn't care." "Yet, most OpenSea members are unaware that OpenSea can seize your NFT assets and preclude you from moving or trading them for days, weeks, months, or presumably forever, even if you did nothing wrong." Robbie's case shows that OpenSea fails to protect its users or provide the security measures we should expect from an NFT marketplace with such explosive growth. Even worse, their customer service seems lacking when people are scammed–they don't help victims recover their losses. It's pretty clear something needs to change at this company before traders like Robbie can feel safe buying on OpenSea again. Instead of working to make things right, OpenSea seized control of 58 NFTs owned by our hero. Even though they exerted no interest in those assets, their actions denied him the justice he deserved–and cost him dearly! By refusing to return his possessions when asked – and taking advantage of massive market fluctuations while holding them hostage – OpenSea earned itself a black mark for flouting rightful compensation despite its failure to protect users' NFTs. "OpenSea portrays itself as a platform for all levels of NFT buyers and sellers. Much like the rug pull, which has been the unfortunate hallmark of NFTs in 2022, OpenSea is nowhere to be found when you need them most." Robbie believes the OpenSea platform offers a false sense of decentralization – in reality, it operates with the classic web2 ethos of profits over people. It refuses to accept any accountability or provide transparency in its dealings with its users. Robbie Acres has teamed up with the leading law firm Traverse Legal to take on his case - an exciting move that promises a thrilling legal journey. Below is a chronometry of the sequence of events pertaining to the suit against OpenSea (Case I.D’s = #631600 /  #717583 / #643576) 12.07.2022 (14:11 GMT) (Receipt Confirmed) 12.07.2022 - (15:11 GMT) OpenSea 12.07.2022 (15:40 GMT) (Receipt Confirmed) 12.07.2022 (18:03 GMT) (Receipt Confirmed) 13.07.2022 (09:34 GMT) (Receipt Confirmed) 14.07.2022 (10:03 GMT) (Receipt Confirmed) 14.07.2022 (19:45 UTC) - OpenSea 18.07.2022 (11:25 GMT) (Receipt Confirmed) 29.09.2022 (10:46 PDT) (Receipt Confirmed) 29.09.2022 (10:56 PDT) - OpenSea 29.09.2022 (18:57) - Sora 29.09.2022 (11:05 PDT) (Receipt Confirmed) 30.09.2022 (01:53 PDT) (Receipt Confirmed) 02.10.2022 (08:51 PDT) (Receipt Confirmed) 03.10.2022 (07:16 PDT) - OpenSea 03.10.2022 (15:37 GMT) (Receipt Confirmed) 05.10.2022 (13:30 GMT) (Receipt Confirmed) 24.10.2022 (21:03 GMT) (Receipt Confirmed) 28.10.2022 (10:29 UTC) 28.10.2022 (19:44 UTC) - OpenSea Now that you've seen it all – what're your two cents on the situation? Are you siding with Robbie, OpenSea, or just choosing to be neutral in this drama? Feel free to share your opinion in the comments! Disclaimer: I only found out about Robbie Acres when he reached out to me on LinkedIn on January 14th, 2023, suggesting to cover his case against OpenSea on HackerNoon. He made it clear that he was determined to hold OpenSea accountable for their negligence in security and customer service. The email correspondence provided by Robbie was really eye-opening – the timestamped screenshots revealed a support team who clearly lacks proper training when handling crucial issues regarding user data safety and still prioritizes bureaucracy and shoddy solutions over common sense. By repeatedly requesting Robbie to testify that his assets had not been stolen from his wallets, it's evident the OpenSea team was unaware of how illegal such a demand was. The above facts were decisive factors in my decision to help Robbie Acres share his story on HackerNoon (free of charge).

OpenSea: A Wolf in Sheep's Clothing?

OpenSea: ¿Un lobo con piel de cordero?

OpenSea : un loup déguisé en mouton ?

ओपनसी: भेड़ के कपड़ों में एक भेड़िया?

OpenSea: 羊の皮を被ったオオカミ?

OpenSea: um lobo em pele de cordeiro?

OpenSea: Sói đội lốt cừu?

OpenSea：披着羊皮的狼？

The NFT hype cycle Recently, a scandal that involves the famous influencer Logan Paul and his crypto project called “Criptozoo” exploded, thanks to the . Basically, it seems that this crypto game has never been delivered for multiple factors but people, trusting the public profile of Logan, put several million USD into it, hoping to have some return, a thing that never happened. It’s nothing new under the Crypto sun, Ponzi schemes promising impossible returns on investments are discovered every day, and surprisingly there’s always someone who gets caught in the fishnet. Cofeezilla investigations But this is not a post about scams, we only addressed it because Logan’s story reminded me of an ancient word, coming from a faraway era, called NFTs. Do you remember? Funky images with some traits hardcoded in a smart contract, exchangeable like trading cards on marketplaces like OpenSea? It was the buzzword of 2021, the year well-known for 2 plagues: Covid-19 and the explosion of Crypto gurus that have just left the ICO (another forgotten term) bandwagon, just to hop in the NFT one. As you can see from this Google Trends chart, the interest is sharply fading away, but during the whole of 2021, the web was full of news and stories about NFTs and new collections launched. One of the most well-known NFT collections is called “Bored Ape Yacht Club”, consisting of ten thousand “Bored Monkeys” images procedurally generated by an algorithm. In May 2021 the launch price for every NFT was 0.08 ETH, approx 200$, and they sold out in 12 hours. In October they were already exchanged for hundreds of thousands each, quickly becoming a status symbol. They gave access to a Discord server where owners could talk with other owners, even celebrities that bought them, and a private section of the collection website. Yuga Labs, the company behind the BAYC NFTs, in March 2022 raised 450M USD in funding from the venture capital firm Andreessen Horowitz, with a company evaluation of 4 Billion USD. But when the music stops… As we have seen many times in different cases when things go up so fast, they usually go down even faster. Having a look at the Google trends chart now shows that the initial hype has subsided and the interest in NFTs, in general, is slowly fading away. We can also see it from the , where the number of sales for the Bored Apes NFTs went from several hundred per day in early 2021 to a few tenths of the latest months. OpenSea activity dashboard To make things worse, the whole crypto economy is passing through a so-called “crypto winter”, with all the major . cryptos losing around 70% of their price from their highest peak I’ve always been fascinated by this world and its dynamics and thanks to the transparency given by the blockchain and the web scraping techniques we’ll see later in this post, I wanted to put down some numbers. Basically, I’ve tracked down every sale of Bored Ape NFTs that happened on OpenSea from the start to enrich . the stats of the collection available on the marketplace 2 billion USD That’s the amount of real money moved by The Bored Ape Yacht Club, from May 2021 to the first days of December 2022. Yes, 2 Billion USD, like the yearly GDP of the whole Central African Republic. Summing up the USD value (at the time of the transaction) of all the sales that happened, you get $2,121,310,433 USD, with an astonishing peak of 283 Million USD traded during only January 2022. Winners and losers In a market that had such a hyped start and a sharp decline, those who entered first and had the right timing when selling had a huge advantage. If we do not consider the first-movers, who got their prize in pre-sale, around ten thousand accounts on Opensea are involved in trading these BAYC NFTs. Around 70% of them lost some money, accumulating a loss of 1.2 Bn USD. On the other hand, the remaining 30% cumulated a gain of 380 Mn USD. But if we consider only the accounts that sold more NFTs than bought, if they bought any, they made around 900Mn USD in gains. As a result, we have a massive shift of wealth (around 1.2 Bn USD) from 7k accounts to another 7k, and half of the latest probably bought the NFTs during pre-sale. 130 vs 127 Another interesting fact that emerges from the transaction data is that 130 accounts made more than 1 Mn USD in trading, while 127 lost more than 1 Mn USD. One of the top performers is the famous NFT collector who, alone, made 5.5 Mn USD by selling 1155 NFTs and buying only one for 1.5 Mn. Pransky With all the buzz and noise around the NFTs, and in particular around The Bored Ape Yacht Club NFTs, it surprises me I haven’t seen these numbers in any article I’ve read. The main reason, I suppose, is that getting them requires a simple but not effortless job of web scraping, both on OpenSea and on Etherscan to get the USD value of the transaction at that time. Also published by the . Web Scraping Club

Trends Uncovered by Scraping OpenSea Data to Analyze NFT Collections

GM. This is Crypto Player One, the daily newsletter on crypto gaming, NFTs, and the metaverse that gives you all the juice while getting loose. Happy Monday! We are starting the week with: Daily Trivia. How Reddit onboarded 3 million people into NFTs. In Other News. Meme of the Day. Daily Trivia Which world-renowned artist created music for "Sonic 3"? Scroll down to find out the answer. Redditors Have Created 3 Million Crypto Wallets Since Reddit's Collectible Avatars NFT launch, Reddit has more active wallets than the biggest NFT marketplace, OpenSea (3 million vs. 2.3 million.) The social media company launched Collectible Avatars, limited-edition digital collectibles, back in July 2022. The holders of these digital collectibles can use them as their Reddit avatars. Reddit made the onboarding process damn easy. Users bought the NFTs in dollars using their credit cards, so they didn't need any complicated crypto setup. The Collectible Avatars run on the Polygon blockchain. Redditors can also transfer them from the Reddit Vault digital wallet to external wallets like MetaMask. Reddit worked with around 30 artists, releasing around 40k NFT avatars that could be purchased in the Reddit mobile app for prices between $9.99 to $99.99. And they instantly sold out. So What Made Reddit's NFT Launch Such a Success? Three things: They Knew Their Audience Crypto and NFTs remain unpopular on Reddit, and amongst gamers (who happen to be Reddit users), so Reddit never mentioned the words "crypto" and "NFTs." They called the Collectible Avatars digital collectibles, so users couldn't get mad. Easy Onboarding Process Users didn't need to download MetaMask, write down their seed phrase on a piece of paper, and put it in the drawer to hide it from the Feds. They could buy these digital collectibles with credit cards, making the buying experience as smooth as James Bond in Casino Royal. Fair Pricing We've seen it time and time again. A big company or celebrity creates an NFT collection, sets an egregious mint price, sells out the collection, pockets the cash or, in our case, ETH, and leaves their audience holding the worthless bag. Reddit did the exact opposite. They created a collection that had a fair price (between $9.99 to $99.99) and gave real utility to their audience. All Redditors want to rock cool avatar pics. So, well done to the Reddit team. They created the playbook on how to onboard millions of users into NFTs the right way. We also can't forget our friends at Polygon. While other projects are trying to get their NFT scene going, Polygon has onboarded millions into web3 by partnering with established companies like: Starbucks Reddit Meta So crypto and NFT builders, Reddit and Polygon just showed you how it's done. In Other News The company behind the NFT project Azuki, Chiru Labs, sold NFT-backed skateboards for more than $2.5 million. Decentraland's second Metaverse Music Festival will feature Ozzy Osbourne and Soulja Boy. According to the Singapore High Court, NFTs can be considered property. Meme of the Day Answer Michael Jackson created some music for "Sonic 3 & Knuckles" but didn't get credited because he abandoned the project. Want to Stay On Top of All Things Crypto Gaming and NFTS? Sign up for the daily newsletter - it’s free! DISCLAIMER: None of this is financial advice. The goal of this newsletter is to educate and make you laugh (sometimes.) We don't give investment advice nor make any inclinations to buy or sell any assets or to make any financial decisions. Always do your own research. Also published here

🎮 Reddit Has Onboarded More People Into NFTs Than OpenSea 

New measures to address the issue of stolen NFTs are deployed as OpenSea implements a 7-day window for victims to file a police report and MetaMask rolls out an update to help users identify wallet draining schemes. In an extended Twitter thread, OpenSea elaborated on its new policy. “It is against US law to knowingly allow the sale and transfer of stolen items. We do not want to incentivize theft by allowing our platform to be used to help sell stolen items.” The move comes as NFT theft continues to be a glaring issue in the Web 3 space. However, this measure, in particular, seems to be aimed at protecting users who unknowingly purchased a stolen NFT. “In some cases, the purchaser who unknowingly bought a stolen item (at no fault of their own) was inadvertently penalized.” The problem of stolen NFTs is a complex issue with minimal room for recourse. Those who unknowingly purchase a stolen Item are left holding an asset that is effectively blacklisted by the wider Web 3 community. “This is one of the most difficult issues we face. Please believe we take it seriously & we’ve been actively listening to your feedback on how to tackle it” -OpenSea Simultaneously, the most commonly used Ethereum wallet, MetaMask is already taking proactive steps to tackle the widespread issue of NFT theft via wallet draining schemes. As of the MetaMask 10.18.0 update which rolled out in late July, there is a stronger emphasis on when a transaction is requesting users to “Set Approval For All”. This visual cue should be a giant red flag for anyone hoping to avoid getting robbed in broad daylight…or night mode. While the MetaMask update should address many of the existing wallet-draining methods, scammers will undoubtedly develop more sophisticated social engineering tactics resulting in an endless game of Whack a Mole. Despite the long wait and endless horror stories, these recent moves by OpenSea and MetaMask are a helpful step in the right direction. That said, don’t get complacent. If you absolutely want to ensure your peace of mind, nothing beats the sense of security of having your digital assets protected by a Ledger hardware wallet. You can read more about how I finally made the call to get a hardware wallet: https://medium.com/coinmonks/web-3-security-setting-up-my-ledger-hardware-wallet-bb3a30bb087e Be vigilant and stay safe out there. Thank you for reading. Check out my unfiltered thoughts on Twitter: https://twitter.com/wasifmrahman Follow my career on LinkedIn: https://www.linkedin.com/in/wasifmrahman/ My other Shower Thoughts on Medium: https://medium.com/@wasifmrahman My newsletter via Substack https://wasifrahman.substack.com/ Sources: https://decrypt.co/107368/opensea-changes-stolen-nft-policy-following-user-outcry Also Published Here

OpenSea and MetaMask Take Aim at Addressing NFT Thefts

NFTs were brought to the world after the launch of the Ethereum blockchain network in 2015. The launch of Ethereum has determined the growth of the blockchain field. People around the world are experiencing the most advanced and futuristic tech because of the first altcoin(Ethereum) launch. The launch of the blockchain network paved the way for the development and launch of OpenSea to global users, where the NFT's knowledge started its growth in all countries. OpenSea launch has brought up and showcased many talents to the world with their works from multiple domains including art, photography, games, and more. OpenSea , the first NFT marketplace that launched on the Ethereum blockchain network in 2017 and it is now the most traded platform of NFTs and as well as with higher market value than any other NFT marketplace. OpenSea made their work reach all the nooks and corners of the world with their continued work and advanced upgrades in the platform to attract users. After their multiple upgrades and works, OpenSea has crossed a billion market value in the year 2021 and is marching forward to create history in the crypto sphere. The success of OpenSea is because of its ultimate platform features, continuous updation with the trending ecosystem, and easy access for the users. OpenSea OpenSea’s Travel on Web OpenSea makes its own way into the crypto sphere in 2017 where most of the marketplace followed up in its path. One of the reasons for its successful travel till now is accepting new trends into the platform and introducing new features to the NFT market. Proceeding its further moves in the marketplace takes its place to a higher standard. OpenSea growth has gone through the peak phase from the start of the year 2020 where it attracted many creators to the platform. Creators started listing their own arts, images, videos, collections, and more on the OpenSea platform and NFT collectors brought their favorites where it went crazy on the internet in 2021. With many non-fungible tokens making history in the crypto sphere by driving the NFT market crosses the billion-dollar value and some single NFTs going for millions and this has brought many creators to the platform where they started selling their creations as NFT in OpenSea and attracted many crypto users to buy their favorite NFTs from their favorite creator or collection. OpenSea attracted most of the users to the platform with every update of what their audience needed. Bringing up the solution to the problems in the market and solutions for the user's queries has become the major reason for the success of OpenSea till now. Rise of OpenSea Till 2020 before the Covid-19 peak, OpenSea went through a bad phase of hibernation where it has made just $28,000 per month even after 26 months on the web. But OpenSea started its journey with the last hope and after a few months it was making millions by July 2021 it has recorded $350 million in NFT trades and this continues reaching higher and higher crossing the billion-dollar value platform. The presence of a wide range of collections in the marketplace from various domains that attracts a huge audience space and lets users find their favorite NFTs at a minimum time with easy access by the users has attracted a huge set of audiences to the platform. The growth of OpenSea has led to the development of many NFT markets like OpenSea. Many Opensea Clone markets has been developed and launched by many cryptopreneurs with their own ideas and functionalities developed over their favorite blockchain ecosystem. Idea of OpenSea In 2017, the world experienced the first decentralized platform built on a blockchain with the birth of crypto kitties. This moment made and launch the first open NFT marketplace on the Ethereum blockchain network. Then this evolved with multiple features like the multi-chain concept with the Polygon ecosystem and introducing the ultimate feature where no one would have thought of this accepting debit/credit cards instead of cryptos. OpenSea has taken its place to greater heights by introducing its unique way of approach and now again OpenSea proves they are a way much forward than any other marketplace by bringing the multi-chain platform with the Solana blockchain network from April 2022. Devin Finzer Alex Atallah As Solana is making its place worthy in the crypto sphere many crypto users are on the way to Solana and many have started their investments in Solana. So, reaching out to Solana will be a great deal for OpenSea as Solana makes its path targeting the future. Solana's proof of history, faster transactions, and less gas fee will be a great deal for the users and the OpenSea platform will move steps further in bringing up the traffic and rising up the platform profit to the next heights. Summing up The travel of OpenSea has just started and the crypto sphere will be witnessing more changes in the upcoming years with its own strategy. OpenSea is the leading NFT Marketplace with high market value and also it comes as the first platform with the most number of NFTs traded. After several phases of work, OpenSea managed its place in the NFT world and kicked off its growth in the crypto sphere. With Dune analytics it seems that by January 2022 it has recorded the highest volume ever with OpenSea’s Polygon NFT of 2,685,757 and OpenSea's Ethereum NFT was about 4,968,834,938. And now taking Solana into the platform the volume count will be increasing further in the upcoming years. Many Blockchain Development Company are making their work on popular marketplace clones like , rarible clone and more because of its success. opensea clone

OpenSea to adapt Solana - Success of OpenSea and NFT

As everyone will know by now, in the last year, the explosion of NFTs has dominated the crypto and blockchain market with projects that have sprung up like mushrooms, and above all, one has never stopped growing, that is the "decentralized" marketplace of OpenSea operating on the blockchain of Ethereum and of Polygon recently. Today, we will more technically analyze this famous platform to understand some anomalies that the NFT sector carries with it and the OpenSea platform, which has never communicated even one episode of problem relating to the site, as one user pointed out on Twitter. The first problem that concerns OpenSea but all marketplace platforms is the retrieval of the information contained within the Ethereum addresses, as, due to the way the Ethereum blockchain is structured and designed, smart contracts are assigned to addresses and not vice versa; this means that the NFT belongs to the smart contract and not to our only address. The problem that is reflected on how to retrieve information about NFTs on our addresses, which is not easy as it is necessary to start from block 0 on the Ethereum blockchain and check every single block to find the ERC-721 and ERC-1155 tokens, and once the search is completed, we take the information of the related NFT such as the tokenURI, tokenID, current owner and previous owners, just to mention some information. It is no coincidence that wallets are unable to show the NFTs we possess, only with some versions is it possible to do this as the system is not scalable and therefore requires extra work, and to do so once the information is retrieved in the method described above, the same are placed inside a centralized database for easy access such as MySQL. The problem that we do not find on the EOS blockchain as it works as a system with alphanumeric accounts of up to 12 characters, not only can we know how many NFTs we have, but we can see them directly with a block explorer, in , the NFTs of account B1: this case To check, just take any NFT, for example, , we can take the from OpenSea, and the ID, which in our case is: this smart contract address 65527720056005055004101960054013571584243562889481162860434194461045118992394 and enter it in the URI field of the smart contract to check the information related to that NFT: And here we have the output that is the of a centralized OpenSea API in which the so-called metadata is saved, and this is the result of what we see: call {"success": false} This means that the APIs that OpenSea is using on Polygon is not ready, and in fac,t if we use a to check our NFTs, we see that we will have an error as it cannot retrieve the URI information: tool From this, it follows that most of the NFTs that we find on Polygon are centralized and have little decentralization because these NFTs would hardly be able to be seen from other parts as the information and APIs are internal to OpenSea, and as we have seen the only one since it returns us it is {"success": false}, furthermore the only way to view it is only through OpenSea and no other tool or wallet, and if you try to scrape the data to get the information, we will have the famous error 1020. It also follows that to check the information; we must go through its APIs, which are on its centralized site, where we will discover that the images are saved on centralized storage such as Google " " and its servers "https: ": https://lh3.googleusercontent.com //storage.opensea.io/files/ contract address / ID number api.opensea.io/v1/metadata/smart If we consider that that information is on centralized structures, it is easy to understand that if those servers go off, we lose the content of the NFT itself; in the following example, this problem is better understood. By checking another NFT that we find on OpenSea, one for example, and always using the NFT check platform, we that the NFT is saved on a centralized server: this discover An interesting curiosity is that, due to the limitations of these platforms and how they manage data, we also have different outputs even though we start from the same NFT and address and smart contract, in this case, I leave you the comparison between the same NFT, the first as it is shown on OpenSea and the second as it is shown on Rarible, remember that it is the same NFT: https://opensea.io/assets/0x5c61afa47570ab2b562606fa578221305b12c307/1 https://rarible.com/token/0x5c61afa47570ab2b562606fa578221305b12c307:1 Impressive right? But we can go further and check thousands of NFTs to find that most are leveraging centralized databases rather than the blockchain, and this suggests that not all that is gold glitters, as is the case with NFTs. Even if most of them have that centralized system, some NFTsexploitt a better system than centralized databases, which is that of the IPFS (InterPlanetary File System), certainly they are not a miracle, but they offer at least some more guarantees than a server centralized that can go off overnight it would be advisable for OpenSea to use the IPFS protocol by default to load everything instead of exploiting its centralized database, but as history has taught us, OpenSea is a private company that has been valued over 13 billion dollars by choosing the path from the IPO (Initial Public Offering) rather than choosing a more decentralized path such as a token of your own with the creation of a DAO. Instead, the marketplace, located on the EOS blockchain, automatically saves any data of our NFT on the relative IPFS protocol, or we can enter the IPFS address ourselves where we will have uploaded our file. AtomicHub Just to have an example, here is what a good NFT look like, with no connection to any centralized platform, where I can know all the metadata of the same: should {"image":"ipfs://QmWA4NVxvNCMqp452tLgCyK3DsCrGSu6uecQzVJbD2N8FA","attributes":[{"trait_type":"Mouth","value":"Bored Unshaven Cigarette"},{"trait_type":"Hat","value":"Horns"},{"trait_type":"Fur","value":"Blue"},{"trait_type":"Background","value":"New Punk Blue"},{"trait_type":"Earring","value":"Silver Hoop"},{"trait_type":"Eyes","value":"Closed"}]} The OpenSea paradox If, as we have seen, OpenSea, but also other platforms (see Sorare), saves data on centralized databases, what sense does it make to enter the same in web 3.0 or with our wallet? We might as well use web 2.0, using a Google account or from another platform, given that however important data remain centralized and there is little data in the blockchain, yet badly arranged. Access to a decentralized system and by its nature that uses web 3.0 to a platform that then uses centralized and traditional web 2.0 systems, in my opinion, is a real paradox, a paradox that unfortunately, those who are not in the sector, such as municipalities actors who have approached this sector, are completely ignorant. The next time you want to create an NFT on Polygon with OpenSea or use its platform, it will be better to investigate this aspect and check if our NFT is on advanced and decentralized systems rather than on the server of some centralized company. I don’t believe in the centralization on OpenSea, fine, just read this tweet from OpenSea support where they say, from now on, everyone can mint only 50 NFT and create max 5 collections: https://twitter.com/opensea_support/status/1486651385793769477 Finally, for Italian readers, I made a video explaining all the processes in this article: https://youtu.be/Vqp3FNq3wdE

The Sad Truth About OpenSea

are unique digital assets—like an image, or a song—that are stored on a blockchain. NFTs (non-fungible tokens) And like traditional art, some NFTs are worthless, while others are hyper-valuable. In February 2021, an NFT from the artist Beeple sold for more than $69 million. Every day, art that you probably wouldn't even hang on your wall is selling in a JPEG format for thousands of dollars. It's a total NFT-feeding-frenzy. So people have flocked to OpenSea: the biggest platform for buying and selling NFTs. But is the user experience of actually creating and selling one any good? To test that, I've created my own collection, and the short answer is: it could be much better. Here are 3 things that they could improve. 1. Actionable routes You may have heard of the concept under another name, but an actionable route is essentially a preferable next step at any given time. For example, after finishing an episode of something on Netflix, one actionable route would be to watch the next episode, another may be to find a different series to watch. As a designer, you only really care about the actionable routes that are common and commonly preferable. i.e., the user may want to rewatch the same episode at 2x speed, but it's unlikely enough that you wouldn't prioritise it. It's evident that OpenSea haven't spent much time thinking about these. As an example, look at this: At this point, the user has clicked into the 'collections' field, whilst adding a new NFT. I imagine that these would be the likely actionable routes: 🌱Add a new collection 🧠 Learn more about collections 🤷‍♂️ Do nothing And so the UX for that empty state really writes itself: . you help the users get to their actionable routes as efficiently as possible 2. Sub-tasks Studies have shown that multi-tasking increases stress and decreases productivity. Despite the evidence, people still think that they can do it effectively. One possible reason for this may be the issue of defining 'multi-tasking'. To clarify, because you only have one cursor on a computer it's difficult to literally do two tasks at once. But, the term 'task-switching' and 'multi-tasking' are interchangeable here. Or rather: the process of switching between tasks carries a penalty. It's mental multi-tasking. As an example: ⛳️Creating an NFT The user has a clear task: to create an NFT. ☝️Creates a collection The user has to switch tasks, to creating a collection. ⛳️ Back to creating an NFT They need to re-orient their focus back to this. My point isn't that you should always refrain from any type of task-switching—it's often unavoidable. But rather, that bringing the user back into the original task is more challenging, and what OpenSea have done here is actually make it harder for the user. Here's the nuance: it's easier to engage with a new sub-task, than it is to refocus on your original task. OpenSea should be bringing the user immediately back to their original task, with a context buffer like this: This would confirm what has just happened, and provide transitionary context—i.e., that sub-task is now complete, and you can get back to creating your NFT. OpenSea would probably find that this approach makes the process of creating an NFT and a collection feel more intuitive. 3. Auto-saving A major factor in managing the sub-task transition is to ensure that the user hasn't lost any work. You never want them to have to re-enter information. This can often be solved by auto-saving. There's another common scenario where auto-saving is immensely valuable: encountering flow-breaking errors. For example, during the collection-creation process I kept running into this bug where clicking the main CTA would give the impression that it's doing something, and then just spring back into it's default state. You can't avoid every error. It's not even a realistic expectation to build helpful error messages for every potential error. Sometimes things just break. But, auto-saving can be used like a UX-airbag. And it would have prevented a lot of frustration here, because I had to refresh the page on OpenSea, and enter everything again. So there we go, 3 things that OpenSea could do to improve the experience of creating and selling NFTs. If you want to read more analysis on OpenSea (and other companies), check out . UX Built for Mars

Creating and Selling NFTs on OpenSea (UX Case Study)

Dear HackerNoon Nation, The goblintown.wtf project last spring. surged onto the scene When it arrived, it ushered in a bona fide “Ugliness” meta for a time, during which aesthetically and intentionally ugly NFTs were all the rage and trading like hot commodities. Lately, though, the NFT space’s meta pendulum has swung decidedly back in the direction, with more than a few collections considered to be in the “Cute NFT” category having experienced considerable buy pressure over the past few months. other Interesting right? Let’s analyze what’s up with this cuteness boom for today’s post! -WMP Cute NFTs are so hot right now 🔥 Since October 2022, a potent buying wave has swept across many projects that PFP NFT aficionados consider to be . cute Cuteness is subjective, to be sure. Yet the projects in question do share a few fundamental qualities, like generally adorable artistry, bright color schemes, lighthearted names, and cheery communities. So what exactly should you be watching right now? If you search around the phrase “Cute NFT” on social media, e.g. Twitter, you can see how references to a cuteness meta really began to surge in Dec. 2022, a period during which the Pudgy Penguins collection notably experienced a historic trading frenzy, and its floor price reached over 7Ξ for the first time ever. https://twitter.com/OriginProtocol/status/1608183557507223557?s=20&t=xn6SmoXh9eHMqPoyHakW7Q&embedable=true However, while there’s no question the recent success of Pudgy Penguins has driven gusts of attention to other similarly cute projects, this success is just part of the ongoing boom. The truth is there is no reason behind the recent uptrend of the cuteness meta since all the collections involved have different and unique things going for themselves right now. In other words, multiple cute projects’ respective strides have coincided with each other lately, leading to this PFP niche gaining momentum. singular As for projects should be actually considered part of and tracked within this niche? That’s where things get interesting subjectively since there’s no definitive answer. No authoritative “Cute NFT Index” exists right now, as we’ve only just come across the need for one. That said, though, what could such an index look like? which For example, Nansen’s got indexes like the and the , and recently I’ve seen a lot of analysts sharing charts of the cute NFT projects they’re personally tracking. In combining these two inspirations, I think a compelling “ ” of relevant collections worth tracking, at least as things stand, should feature the following projects: ART20 GAME50 CUTE15 — | Floor: 0.16Ξ | 90D floor action: 📉 -27% Cool Pets OpenSea — | Floor: 2.95Ξ | 90D floor action: 📉 -23% Cool Cats OpenSea — | Floor: 7.42Ξ | 90D floor action: 📉 -19% Doodles OpenSea — | Floor: 1.3Ξ | 90D floor action: 📈 +3% Dooplicators OpenSea — | Floor: 0.123Ξ | 90D floor action: 📈 +4% Coolman’s Universe OpenSea — | Floor: 0.15Ξ | 90D floor action: 📈 +28% Tubby Cats OpenSea — | Floor: 1.98Ξ | 90D floor action: 📈 +69% BEANZ OpenSea — | Floor: 0.35Ξ | 90D floor action: 📈 +107% Finiliar OpenSea — | Floor: 1.65Ξ | 90D floor action: 📈 +119% Sappy Seals OpenSea — | Floor: 7.1Ξ | 90D floor action: 📈 +138% Pudgy Penguins OpenSea — | Floor: 0.09Ξ | 90D floor action: 📈 +157% Froyo Kittens OpenSea — | Floor: 0.33Ξ | 90D floor action: 📈 +263% Froggy Friends OpenSea — | Floor: 0.3Ξ | 90D floor action: 📈 +264% Chubbiverse Frens OpenSea — | Floor: 1.77Ξ | 90D floor action: 📈 +285% Kanpai Pandas OpenSea — | Floor: 0.79Ξ | 90D floor action: 📈 +313% Lil Pudgys OpenSea Again, these picks are just my subjective takes on what the top 15 projects are in the cuteness meta . Whether you’re looking at market cap or trading volume, these collections are all currently in the top 300 NFT projects, so tracking them can give you broad insight into how this cute category of PFPs is faring. right now Zooming in some, the biggest cute-cap gainers over the past three months have been , all of which have seen their floor prices climb by more than 260% in that span. Lil Pudgys, Kainpai Pandas, Chubbiverse Friends, and Froggy Friends Lil Pudgys, the companion collection to Pudgy Penguins, naturally has more runway to grow than its parent project and has been exploding with interest upon the Penguin ecosystem’s recent “what bear market?” advances. https://twitter.com/nftwhalealert/status/1611072623806681088?s=20&t=3xpXwFfAhFxTbuePsr_wrQ&embedable=true For its part, Kanpai Pandas, the most successful omnichain NFT project to date, has rallied a passionate community from across 8 different blockchain deployments since Spring 2022 thanks to its capable and charismatic team. With the recent uptrend in cuteness, then, it’s no surprise this collection’s gotten wind in its sails. As for other big 90D climbers, Chubbiverse Friends (+264%) and Froggy Friends (+263%) have also seen their floors ramp up, yet not too far behind these collections have been other cuteness heavy hitters like Froyo Kittens (+157%), Pudgy Penguins (+138%), Sappy Seals (+119%), and Finiliar (+107%). Of course, “Cute NFTs” and the idea of a CUTE15 index might sound silly at first, but again, make no mistake that the action here is indeed very real right now. For example, these are the 90D volume stats for the proposed CUTE15 collections: These stats are up and to the right for these projects right now. So as chatter continues to pick up about crypto potentially turning bullish again, just keep in mind that to a certain extent, Cute NFTs are currently near the tip of the spear, so to speak! https://twitter.com/rektmando/status/1610970999557595137?s=20&t=cumcsVo6yerCbAkjOUyBaw&embedable=true Update 1/5/2023: The CUTE20? I posted about my CUTE15 proposal and got a lot of great feedback there about projects that would also be fits for the list. Going off that feedback, I think you could definitely expand to a “CUTE20” grouping by tracking five additional collections that are relevant to the category: , , , , and . I’m putting this expansion possibility on your radar too for good measure 📡 on Twitter Axolittles Chubbicorns Cozy Penguins CryptoMories Cupcats Author Bio is a professional writer and creator of —a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. He’s also recently been contributing content to Bankless, JPG, and beyond! William M. Peaster Metaversal

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