‘Huge mess of theft and fraud:’ artists sound alarm as NFT crime proliferates

OpenSea has grown at a dizzying pace, and is now valued at $13bn. But amid its spectacular rise, the company is doing far too little to prevent thefraudulent NFTs, some artists charge, and is placing much of the burden of policing art fraud on the artists themselves.

furries warned yall

womp womp Welcome to February 2021 The Guardian.

lichelets Furries warned you. if it were any benefit to artists/buyers at all, in any way, our community would’ve been all over that from the start. Selling each other personalized, unique art is WHAT WE DO. We saw NFT’s were a pyramid/ponzi scheme from the word “go.” Listen next time.

The entire NFT infrastructure is built on a scam anyway. Nobody is actually buying art, just the receipt. But NFTartists are taking other artists' copywritten work and claiming that they can sell it as an NFT (which, again, doesn't actually sell the art) and it's all a fat mess.

Perhaps this is why 82% of Gen Z says NFTs are a scam. 🤷🏽‍♂️

TheotimeGM Y'all a little slow on the uptake seeing as this entire drama has been playing out for a few months now. Better late than never...

moumekie I love how the media is finally catching up to this widespread issue that has lasted for like over a year now

FUD

Is anyone surprised?

If you're buying digital art for $69 mil, you're shady af. Do something positive with your financial power.

This NFT crap highlights one of society's biggest problems: Confusing 'money' with 'value'. If we de-linked money from value, maybe there'd be less greed in the world & we can move past our selfish 'me-me' culture.

Hahaha theft of non tangible imaginary doesn’t actually exist float in the ether net sparkles that form PICHA’S 😂 how you asses the loss ? In Unicorn 🦄 Dollars 💸 ? …Stop it ffs 😂 NFTs cuckoo craycray twitter LMAO

One way to avoid this is right click and save.

So the WRONG ones steal the cash in that Ponzi scheme?

Please check out SneakySkeloClub . They are an upcoming NFT project that will have unique utility. They are hosting a giveaway right now for 3 spots, make sure you enter.

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