OpenSea, the marketplace of NFT, has gone back on its controversial decision to restrict the number of NFTs and collection creators will be able to mint. The platform previously brought about unlimited items and collections but changed the policy to only allow five separate collections of NFT with 50 items per collection when utilizing the collection storefront contract of the marketplace.
This unexpected announcement from the Twitter Support account of this marketplace, posted on the 27th of January, went on to state that the lower limits came through after it had already addressed much of the feedback that it had received regarding its creator tools.
OpenSea Has Reversed Its Decision
The announcement from OpenSea led to several NFT creators hitting back, with some arguing that they wouldn’t be able to complete their unfinished collections due to this change, with others noting that they were halfway through creating collections that numbered in the hundreds to the thousands.
One creator, who goes by the name HamsterNFT on Twitter, went ahead sharing a screenshot about how they couldn’t go ahead and upload any more of the NFTs, stating their frustration that they would now be stuck at 96 pieces out of a possible 100 piece collection.
Nevertheless, creators would still have the option of deploying their own smart contracts in order to circumvent the limits that have been imposed by OpenSea, but with several of the smart contract deployment costing between US$1,000 and US$2,000 in gas fees, some have claimed that they would be moving their collections to most of the competing marketplaces.
OpenSea managed to reverse the decision today, along with a couple of apologies for not previewing their decision with the community as a whole.
It also stated that the reasons for its limiting was the smart contract was regularly misused- with 80% of the items created with plagiarized works.
