Cameron Hejazi, the CEO and co-founder of Cent Company told in an interview that their company had stopped many users to buy or sell most NFTs which were plagiarized tokens, since February 6th. The rest of the operations like Valuables marketplace, the place where the non-fungible tokens of tweets buying and selling happens has not been stopped. In his interview to the Reuters the CEO acknowledged a variety of illegal activities that are not supposed to happen. To stop these type of illegal activities Cent has taken great measures but has not got any great results. As nipping one bad doer in the bud give rise to two or more bad doers.
According to OpenSea since they had limited the number of NFTs that can mint tokens for free and more than 80 percent of the token that are created free minting tool have plagiarized, fake and spam work in it. Now they have revised their decision as they are working on solutions to discourage those who are making fake plagiarized tokens.
Many artists and photographer had complained against the company that they had not done enough to address these plagiarized and fake tokens issue.
The CEO showing his optimism said to the Reuters that the problem they are facing is common problem that is faced by Web3 and to over this problem they are working. He further added that they will start with centralized controls that will further help in the reopening of their marketplace. Later the company would explore more options and make their shift to a decentralized solution for their problems
The times have changed. As technology has become an integral part of our daily life and our dependency on it has increased on it these issues are have hiked and have become very common. Such setups should try to make a better solution to stop such problems. It is a problem of all such setups, they better combine their intellects and come up with a better solution.