NFT Marketplace
NFT marketplace is a digital platform where users can buy and sell NFTs. NFT marketplace is a go-to NFT space for everyone to explore what they want to buy. The trading practice will vary depending on different NFT marketplaces. The users can buy the NFTs using
the direct buy option or participate in an auction and bid for the digital asset they want to own.
So, simple right? Now, let’s learn more about this new age NFT marketplace, the current problems and issues that exist in these marketplaces and how jump.trade marketplace can be better than the most popular OpenSea.
Has Opensea Become A Home To Fake NFTs?
The platform has always been in a difficult position - with its unprecedented expansion bringing in more income to help and grow itself. And the platform currently holding a stake in the functioning of it by have a standing relationships with digital titans
like Twitter, and capital, but it has also brought with it a slew of issues as the company tries to stay up to date with evolving security events and countless fake NFTs, and if OpenSea does address those flaws, it may face a resounding response from cryptocurrency
hardliners. These concerning aspects have already caused enough irreparable damage to the platform and it has already resulted in the development of a competing NFT marketplace cautiously making moves to beat it in its own game and we are seeing it unravel
in front of us.
How The Company Responded
The rise of NFTs has been hailed as a boon by digital artists, but they believe OpenSea does not go far enough in preventing plagiarism and unethical conduct, and this has been exposed by @NFTTheft, a Twitter account that uncovers plagiarism on OpenSea and
other NFT businesses. “When I first heard the name ‘OpenSea,’ I assumed it was founded on piracy,” they responded by saying, voicing their concerns for privacy to avoid persecution from plagiarists. “This is currently the primary location for piracy.”
The Case Of The Faux NFTs
Starting in the first half of the year, the public NFT marketplace set up a few measures and took precautions to help prevent counterfeit tokens. OpenSea attempted to reduce the number of counterfeit tokens on its platform, and it announced the end of free,
limitless minting. As a result of outcry from the public, the ruling was changed within 24 hours to limit users to five collections, holding no more than 50 NFTs. On Twitter, OpenSea claimed that more than 80% of NFTs created in this way contained "plagiarized
material, fraudulent collections, and spam." The next day, however, user comments began to claim that bots were looking for an old listing method that allowed anyone to obtain NFTs at below-market prices.
Lack In Imagination And Management
The firm's commitment to quality does not appear to enhance security, the most important aspect of the platform. In December 2021, the firm appointed its first-ever chief security officer, where previously vice president for engineering Dan Roelker, who worked
for DARPA's cyberwarfare programme from 2011 to 2014, was responsible for the security of the platform. These people continue to attribute the platform’s inability to control NFT infringement to OpenSea’s choice to make NFT minting free and truly open for
everyone. A cryptocurrency specialist with an understanding of the company's operations described OpenSea's approach to cybersecurity as "years behind what needs to be done" in August 2021, when Roelker joined the company, and Dawson claims no one was in charge
of security during his tenure at OpenSea in 2020. As a result, Dawson chose to remain anonymous in order to avoid damaging possible business partnerships with OpenSea.”
NFT Heist In Opensea
OpenSea users have been victimized by a wave of digital theft, with alleged fraudsters fleeing with $1.7 million in assets. It is still unclear how the scammers were able to withdraw NFTs from the original owners' wallets, but they mention an enormous phishing
heist - the incident happened in February 2022.
Reasons, Why Jump.Trade Is A Better Platform Than Opensea
The blockchain-based NFT gaming platforms are providing entertainment platforms along with satisfying the economic growth needs of investors, and are seen as one of the fastest growing markets of the gaming industry, according to the general consensus, and
experts are keeping a close watch as to what it could potentially mean for gaming, community building, and finance in the future, in investment and trading assets, specifically in the online space. Let's consider some of the most prominent NFT gaming p2e marketplaces
and briefly examine everything you need to know about NFT games, including what they are, where to find them, how to play, and what to consider before you get started.
Games centered around NFTs and cryptocurrencies are another way blockchain applications like NFTs and cryptocurrency are becoming more accessible to a broader audience. These gaming platforms - which normally appear as massive multiplayer online games (MMO)
or virtual worlds - combine play with Decentralized Finance (DeFi) to make collecting cryptocurrency and NFTs as easy as playing video games.
Fans worldwide can now quench their cricket thirst on the world's first global p2e cricket marketplace -- Jump Trade - Meta Cricket League. It is built to support both mobile phones and computers among various other features that make it the best sports-themed
NFT gaming experience many are jumping at the chance to participate in. Gamers in the Jump Trade platform can now officially help themselves to the new and exciting cricket NFTs.
Jump.trade is a brand of GuardianLink that announced the Layer 2 chain based on the Zero Knowledge Rollup technology from StarkWare. The gaming platform tries to bring a new marketplace with the cricket NFT collectibles that can be purchased on the interface
with no gas fee charged to it. This is not attempted by many in the Asian market or even the world. The players can now start by trading them - buying & selling it in the new secondary marketplace released.
Closing Thoughts
The NFTs on curated NFT marketplaces like jump.trade are authentic, utility-bagged and are curated making it a safer place for users to buy NFTs when compared to OpenSea. With all the plagiaristic contents and infringement issues with OpenSea it is always better
to invest on authentic assets on other marketplaces.