NFT marketplace Cent halts trading amid fakes and plagiarism

The NFT platform Cent paused trading. Reuters reported, citing the marketplace’s chief Cameron Hejazi.

According to him, the decision was prompted by the sale of copied and counterfeit NFTs by users who did not have rights to the tokenized content.

Hejazi described this as a ‘fundamental problem’ in the fast-growing digital-asset market.

The Valuables category for selling NFT-tweets remains available on the platform, the publication noted.

Cent’s audience reached 150,000 users. In March 2021, Twitter founder Jack Dorsey sold his first NFT-tweet for $2.91 million.

In January 2022, the platform OpenSea reported that more than 80% of NFTs created with the free mint option were plagiarized, counterfeit, or spam.

Earlier in February, Chain CEO Dipak Thapliyal purchased NFT CryptoPunk #5822 for 8,000 ETH (~$23.7 million). The purchase was the largest in the Larva Labs collection’s history.

Read ForkLog’s Bitcoin news in our Telegram — news on cryptocurrencies, rates and analysis.