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OpenSea is one of the world’s first and largest NFT marketplace. It is a decentralized, peer-to-peer exchange where users can purchase and sell Non-fungible tokens (NFTs).
Founded in 2017, OpenSea hosts over 80 million NFTs from 2 million-plus NFT collections and has over 1.5 million active users, according to Dune Analytics.
Despite its popularity (or because of it), OpenSea has been targeted by bad actors. According to a recent report, over 80% of NFTs minted on OpenSea’s Marketplace are either plagiarized or fake. This guide will teach you all you need to know about how to report fake or stolen NFTs on OpenSea.
In this article, we discuss:
The OpenSea Marketplace hosts over 80 million NFTs, and the number is growing every day. Unfortunately, according to OpenSea, a significant majority of these NFTs are fake or stolen.
As a result of the decentralized nature of the platform, users can anonymously mint and sell NFTs for free on OpenSea. Scammers and unscrupulous individuals take advantage of this to mint fake or stolen artworks and pass them off as theirs.
OpenSea takes counterfeiting very seriously and has begun implementing measures to prevent copyright infringement in an effort to retain its legitimacy as an online marketplace.
However, according to its Terms of Service, OpenSea
“is not a party to any agreement between any users….. We make no claims about the identity, legitimacy, functionality, or authenticity of users or NFTs (and any content associated with such NFTs) visible on the Service.”
This means that verifying the legitimacy, authenticity, and legality of any NFT purchased from third-party sellers is ultimately the buyer’s responsibility and no liability falls on OpenSea. This can significantly impact businesses that rely on NFTs as a source of revenue losing potential customers to counterfeiters. In fact, despite the purportedly legitimate protection offered by block-chain technology, many NFT owners are still reporting incidents of piracy, hacking, or mass counterfeiting on platforms like OpenSea.
Reporting Fake NFTs on OpenSea is a simple process. Here is a step by step guide on how to do it.
If your artwork is being counterfeited as an NFT on OpenSea, here is how you can report it for takedown:
Based on our recent webinar on NFT infringement, it is advised that you follow up this takedown notice with an email to OpenSea to confirm they did indeed receive your takedown request and are planning to take down the NFT.
Here is how to do so :
You can also mail this message to their physical address :
Ozone Networks, Inc.
Attn: Legal Department
228 Park Ave South # 22014
New York, NY 10003
As per the DMCA guidelines, the user hosting the counterfeit NFT on OpenSea can send a counter-notice in which they say that they believe in good faith that the content was removed because of a mistake or a misidentification.
If the user who was affected files a counter-notice, OpenSea will notify you of the counter-claim.
If you receive such a counter-notice, the next action is to file a legal complaint. As per the DMCA specifications, you have ten working days to take legal action and send proof of filing to OpenSea. If nothing is done, the content will be relisted on OpenSea.
Can my NFTs be sold without my consent on OpenSea?
Selling NFTs without the owner’s consent is illegal. However, due to the decentralized nature of OpenSea, scammers can plagiarize, mint, and sell your NFT artwork without your consent on OpenSea.
How can I take down a stolen NFT on OpenSea?
Suppose your artwork is being counterfeited as an NFT on OpenSea. In that case, you can take it down by sending a DMCA takedown request form to OpenSea.
How can I protect my NFT from being stolen or plagiarized?
Vigilance is key to preventing NFT infringement. You can protect your brand from unauthorized or fraudulent NFT abuse with Red Points’ new NFT protection software.
Due to the widespread nature and ease of plagiarism in the NFT industry, protecting your NFT from theft or counterfeiting requires constant vigilance. See how you can protect your brand from unauthorized or fraudulent NFT abuse with Red Points’ new NFT protection software.