Sat. Oct 16th, 2021


One of the largest marketplaces for trading NFTs has found itself in controversy. In a blog post marked by , Open sea One of his employees, Knut Chastein, bought NFT on Wednesday knowing he knew the company originally planned to perform on his platform.

This was admitted after a Twitter user named Juvu The front page NFT drops for use using the secret Etherium wallet this week were available for purchase to the public before, and later sold at a profit following the inevitable spike in interest.

Opensia called the incident “incredibly disappointing” and said it was investigating what happened. “We want to be clear that this behavior does not represent our values ​​as a team,” the agency said. “We take this very seriously and are conducting an immediate and thorough review of this incident so that we can get our full idea of ​​the truth and the additional steps.”

The company has already implemented two new policies to prevent such incidents in the future. Going forward, OpenSea is collecting employees and promoting them while not allowing them to buy or sell from manufacturers. They are also prohibited from using confidential information to buy or sell NFTs in Opensia and elsewhere.

Understandably, the incident has caused quite a stir among the company’s customers, with some . More than anything, the episode highlights how wild the NFT market is in the West right now. According to a Analysis According to business law firm Macmillan, there are currently no laws in the United States or Canada that regulate NFT sales. This incident may force the Securities and Exchange Commission to change this.

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