Nonfungible token platform does not serve artists due to sanctions
2022.12.23 11:36
Nonfungible token platform does not serve artists due to sanctions
Budrigannews.com – OpenSea, a marketplace for nonfungible tokens (NFTs), has been prohibiting Cuban artists and collectors, citing sanctions imposed by the United States.
As indicated by a report distributed by Artnet, 30 craftsmen and gatherers have been prohibited from the famous NFT commercial center up to this point. Gabriel Guerra Bianchini and Fábrica de Arte Cubano, well-known Havana-based artists, are the most prominent ones to be eliminated.
In its terms of service, OpenSea marketplace says that it doesn’t let people from sanctioned countries or from sanctioned jurisdictions use its services. Countries like Venezuela, Iran, and Syria were among the NFT marketplace’s adherents to American sanctions. Cuba, on the other hand, is now on that list thanks to the recent ban on Cuban musicians.
“We continue to holistically evaluate what other measures need to be taken to serve our community and comply with applicable law,” an OpenSea Spokesperson told Cointelegraph.
In the beginning of December, the Twitter account NFT Cuba Art made the revelation that OpenSea had prevented them from viewing or listing their artwork while they still had access to their wallets. Bit Remasa’s founder, Erich Garcia Cruz, responded that their NFT collections were also restricted. Cryptocuban organizer Gabriel Bianchini added that the fate of Web3 doesn’t look decentralized.
So sad to see that the future of web3 won’t be decentralized @nftcubaart and @GianniDalerta are part of the Cuban web3 history and so much more! ❤️
— GabrielBianchini.ethᵍᵐ (@GGBIANCHINI) December 13, 2022
In addition to OpenSea, a number of cryptocurrency platforms were forced to suspend services to Russian customers as a result of the new sanctions imposed by the European Union following the outbreak of the war in Ukraine earlier this year.
Despite the fact that the cryptocurrency ecosystem is based on the principle of decentralization, the majority of the firms and intermediaries providing various services continue to function very similarly to the majority of centralized Web2 companies.
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