- OpenSea has established a three-hour hold period.
- To decrease the possibility of fraud, sellers will be prohibited from accepting bids on specific goods for 3 hours.
- Rapid swaps and resales through offer approvals may be signs of odd behavior.
OpenSea has introduced a 3-hour hold period. They have announced this news via tweet. To reduce the risk of fraud, dealers will be barred from receiving bids on certain products for three hours following certain transactions. Hot and cold wallet transfers will be unaffected by Delegate Cash.
Introducing OpenSea’s 3hr Hold Period— OpenSea (@opensea) February 2, 2023
To mitigate theft-related risk, sellers will be prevented from accepting offers on certain items for 3 hours after some transfers and sales. But don’t worry–with @DelegateCash, hot<>cold wallet transfers won't be affected@nanzbonanz📽🧵 pic.twitter.com/zjKYP7oXK4
Rapid exchanges and resales via offer acceptances can be indicators of unusual behavior. This timeline assists OpenSea, their network, and crime victims in detecting lost things even while lowering the likelihood that purchasers may get an object that is later confirmed to be stolen.
If anyone is unfamiliar with Delegate Cash, it’s a decentralized registry that connects your reliable accounts. OpenSea will take from their on-chain register, allowing you to purchase and trade with ease while remaining secure.
OpenSea is a global market for NFTs where individuals can buy, sell, or generate NFTs. It is a noncustodial system that gives users complete control and access to their cryptocurrency wallets. Users engage with other specific users to purchase or sell an NFT or a package of NFTs.
OpenSea takes great pride in being the very first and greatest NFT infrastructure to provide critical NFT operations. There was no marketplace for customers to readily exchange various NFTs prior to its creation in 2017. OpenSea was designed to enable individuals to exchange cryptographic collectibles and other NFTs with one another.