Cent was one of the first platforms to allow users to sell tweets as NFTs. It has since been suspended due to plagiarism issues. Cameron Hejazi (Cent’s CEO) claims that people continue to sell NFTs of other NFTs and/or use content not owned by them to mint these tokens. Twitter NFTs are still being sold.

Cent Struggles With Unauthorized Use and Plagiarism

Cent, one of the first marketplaces to allow users to tokenize tweets and sell them, has announced it is suspending almost all of its activities due to plagiarism issues. Famous for selling the first tweet by Jack Dorsey, Twitter founder, for $2.9 million, Cent recognizes that the NFT industry is in trouble.

Cameron Hejazi is the founder and CEO at Cent. He stated to Reuters that activities on its marketplace had been suspended since February 6. The platform’s section for trading tweets NFTs is still in operation. Hejazi explained the reasons behind this suspension as

There are a variety of activities that are taking place that should not be happening, like legally.

He explained that the company had to adopt a platform-wide strategy because every time it bans an account for engaging in illegal activities, another two or three would appear. Hejazi described it as playing “whack a mouse” games.

An Industry-Wide Problem

However, this problem is not exclusive to Cent, which only has 150K users. Hejazi said that this problem is industry-wide and Opensea statements seem to support this assertion. Opensea is one of the largest NFT markets in terms of sales volume.

Last month, Opensea, a marketplace with more than $20 billion in NFT sales volume reported, stated it was adding a 50 NFT limit on its free NFT minting tool. While they reversed this decision, Opensea stated that they have seen misuse of this tool, explaining that:

Over 80% of the items created with this tool were plagiarized works, fake collections, and spam.

The boom in this market has led to a forgery market looking to make quick buck. Opensea, and other platforms, are developing tools to determine if an NFT’s associated content is genuine. Hejazi stated that his company may seek to implement centralized solutions in order to open the market as a temporary measure.

What do you think about Cent’s NFT plagiarism issues? Please leave your comments below.

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