OpenSea Adds Collection Offer Protection
Today, OpenSea announced the addition of a new collection offer protection measure.
What It Means
Sometimes an offer is made on an item that's in a valid state at the time but is later flagged as stolen. OpenSea will now check an item's state before an offer can be accepted.
This mechanism is possible because of the updates in SeaPort 1.4. If there's been a change to the item's status (to the item being flagged as stolen), the transaction will then be rejected.
❗ Why It Matters
This collection offer policy is another preventative measure OpenSea has developed to minimize suspicious activity on its platform. Of note, this will have no impact on Blur's marketplace, where OpenSea's marked flag icons have been hidden altogether.
Previously, OpenSea also instituted a policy that forces users to wait 3 hours to accept an offer after transferring it (in contrast, Blur requires users to wait 1 hour to accept a bid after a transfer).
🎬 Take Action
OpenSea notes that some users might still prefer to disable protections on offers made, which can be done here.
🧠 Learn More
- OpenSea Rolls Out Update With Seaport 1.4
- Blur Removing Third Party Flag Restrictions
- Blur Makes Next Move In Marketplace War