The NFT marketplace is growing to the fullest. Despite its growth, the NFT scene is crowded with affairs related to plagiarism, wash trading, and many other ‘legal’ issues. The leading NFT platform – ‘The Cent’ has lately revealed its announcement regarding its blockchain’s digital art & sale suspension for the time being. The Cent decided to suspend the maximum of its transactions because it received the report of some individuals being enrolled in fraudulent schemes over the platform. NFT Marketplace Puts a Halt to its Sales To be precise, bad actors benefited from the anonymity offered by the platform to sell items that didn’t belong to the users. This type of advantage is fallacious and hence NFT marketplace decided to put a halt to such sales. The Cent became popularized after it profited to the extreme by selling the screenshot of Twitter’s first tweet. The selling brought about millions as a benefit. The platform is the 1st in the marketplaces that recorded a sale that grabbed the attention of many users. Also, the space is known to have generated million-dollar NFT sales. The NFT space has flourished to be the dominant part of the wider crypto industry. NFT has also identified itself as a giant in its own right because it witnessed an increase in its growth and interest irrespective of the huge crypto market crash in January 2022. However, data and pieces of evidence grab one’s attention towards the fact that the NFT s...
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