Art theft an emerging issue on NFT platforms like OpenSea, is there a solution in sight

by AryanArtnews
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NFTs often become punchlines, resulting in a myriad of “right-click and save” memes. But on the contrary, traditional artists say it’s painful to see their work stolen without permission and created as an NFT.

You “art” the thief

On December 18th, British comic artist Liam Sharp, who has been involved in both Marvel Comics and DC Comics, Claim Someone stole his art and cast it as an OpenSea NFT. Not surprisingly, he had some feedback on the NFT market.

The work in question was a Minotaur placed in the Open Sea by a user named 7D03E7. Created two days ago, based on the Polygon blockchain, the price of the artwork was 0.0008 ETH. [$3.14 at press time].. Users pointed out that other NFTs in the creator’s collection were also stolen with the names of other artists remaining.

Source: opensea.io

Nick Johnson, founder and lead developer of ENS, as many sought OpenSea to deal with what was happening. answered,

“It feels like a massive overreaction. The entire collection has zero sales. It’s like someone posting your work on Facebook without attribution. It’s crap, probably illegal, but It’s not a real threat. “

Another “paint” in the view

Traditional artists complained that their work was created as an NFT and sold without permission, which exploded after the 2021 NFT boom. In fact, DeviantArt, a popular platform for sharing works, decided to crack down on it using artificial intelligence. About the problem.
So is the unauthorized NFT a professional danger to DeFi spaces or a positive threat to traditional artists? Now look at the facts. According to a ConsenSys Web3 report, 97% of market volume was offset by OpenSea in the previous quarter. In terms of revenue, OpenSea has won over $ 16 billion in cryptocurrencies this year alone, according to Chainalysis.

Simply put, it’s not easy to ignore this.

More than cryptography and crayons

OpenSea is a huge player in the NFT sector, but with the official launch of Coinbase NFT, there are two. Coinbase has previously formed a partnership and contacted traditional artists to help with cryptocurrency payments. But that’s not all. Other companies interested in NFTs include Visa, Fortune, Twitter and TikTok.

From now on, artist protection will undoubtedly be a major victory point for the next dominant NFT market. In addition, if the NFT Marketplace wants to attract more traditional artists, these are issues that need to be addressed quickly.

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