Behind the Decentralized NFT: Centralized Operation You Unexpected

As the Federal Reserve’s financial policy changed from dove to eagle, the U.S. stock market began to adjust from an all-time high, and the cryptocurrency market also turned down, and Bitcoin fell directly below $35,000.

All kinds of projects carry their own private goods under the banner of Web3, which is called “promoting decentralization development”. At this time, some engineers and cryptography experts found that something was not right.

Investors seem to be more worried than expected about the investment market in 2022.

OpenSea is not too “decentralized”

On January 9, OpenSea experienced a service downtime, and the webpage could not be opened or loaded slowly, causing user dissatisfaction. Netizens jokingly called it ClosedSea, ironing that it is not such a decentralized platform.
There have been similar arguments before. Last month, OpenSea user Todd Kramer asked for help on social media, and his 16 Bored Apes NFTs worth $2.2 million were stolen. “All my apes are gone, please help me.” Todd then said , Opensea helped him freeze all the stolen NFTs.

The news has sparked criticism and concern from all sides, with some people arguing that OpenSea can freeze NFTs, which goes against the decentralization advocated by cryptocurrencies. Netizens have questioned whether OpenSea is truly decentralized, because “in true decentralized ownership, no one should be able to intervene.”

But when they advertise their “blockchain technology” and “decentralized applications” as Web3, should they let users know the truth? At the very least, users who spend hundreds of thousands or even millions of dollars on expensive NFTs should know exactly what they are buying.

About Pacific

Pacific is a decentralized NFT marketplace and an integrated platform for metaverse/GameFi assets. The project has received endorsement from some of the most eminent institutions and investors, including the Web3.0 Foundation, NGC, Gate.io, Krypital Group, PAKA, Candaq etc.

🌐Website | Telegram | Twitter | Medium | Deck | Ambassador | INO

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Pacific_NFT

Pacific is an integrated platform for decentralized NFT market and Metaverse/GameFi assets.