NFT: 80% of tokens created for free are scam, largest marketplace in the world unveils

NFT: 80% of tokens created for free are scam, largest marketplace in the world unveils


OpenSea, the largest NFT marketplace in the world, has revealed that 80% of tokens created on the platform with a free tool are a scam. The information was shared on Twitter.

OpenSea, you should know, has a free NFT minting tool. This is a function created to help creatives, but it has obviously been poorly used and the platform has therefore decided to limit the objects that can be created for free to 50. The public complained and, via Twitter, OpenSea apologized, explaining the motivation behind the choice.

"Over 80% of the objects created with this tool were plagiarism, fake collections or spam." OpenSeas explains that it did not "take the decision lightly" and implemented the change taking into account "the feedback of the whole community", but admits that it could have "disclosed it before putting it into action". Additionally, OpenSea claims to be working on new ways to prevent NFT scams.

It is a complex situation and what has happened certainly does not help to put NFTs and the whole market that is emerging around them in a good light. The videogame market is heading in this direction, amidst criticism from international players and journalists, such as Jason Schreier.

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NFT Project Crypto Pharaohs to Build First Wonder in the Metaverse

Crypto Pharaohs MetaverseCrypto Pharaohs Metaverse

VANCOUVER, British Columbia, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Next Decentrum Technologies Inc ('Next Decentrum') announced today that it has successfully completed the launch of its generative NFT collection Crypto Pharaohs, a collection of digital collectibles inspired by the ancient Egyptian civilization, with an oversubscribed first drop that exceeded expected revenue for Jan. 2022 by 20%, and now plans to build the first wonder of the metaverse.

The NFT market exploded last year driven by sales of art and digital collectibles, reaching a staggering value of $41billion by the end of 2021 according to a recent article published on

'We're thrilled with the success of our first drop, and the loyal community we built,' said Hussein Hallak, Founder & CEO of Next Decentrum. 'Building the first wonder in the Metaverse just further cements our commitment to developing the Crypto Pharaohs brand and experience.'

This first wonder will be an open world, with Pyramids surrounded by an Innovation Center, Grand Council, Universal Campus, and the Museum District.

'We're confident the project will continue to be a great representation of our rich Egyptian history and culture,' said Hatem Kandeel, Founder and CEO of DAF Holding. 'Working with our partners we've planned several events and projects in the art and culture space.'

The next drop of 739 Crypto Pharaohs is on Feb. 22, on Momentable, a proprietary NFT platform developed by Next Decentrum on the Flow blockchain. Interested collectors must visit CryptoPharaohs.World


Hussein Hallak - Founder and Chief Executive


Next Decentrum delivers unique, social, and meaningful art and culture experiences through, a versatile platform for iconic art and culture NFTs from the world's top museums. Next Decentrum is the creative force behind Crypto Pharaohs, the first generative NFT collection of its kind inspired by the history, life, and legacy of the pharaohs of ancient Egypt. At Next Decentrum we believe in enabling access, empowering the user, and unleashing an ever-evolving future through collaboration. Working with some of the top museums and artists in North America and the world to generate new revenue streams by publishing and protecting iconic artworks and artifacts, making them more accessible to collectors around the world. For more information visit

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DAF is a pioneering digital solutions company based in Egypt with offices in Cairo and Alexandria. DAF builds in-house Fintech, Health-tech and Pharma-Tech solutions and products, that help digitize businesses and provide digital solutions to operational and regulatory problems while serving the clients' needs and ensuring inclusivity of various stakeholders. Revolutionizing the Egyptian healthcare sector through data-driven products impacting supply chain and market queue with B2B & B2C solutions. We provide digital solution services to clients in different sectors such as Healthcare, Oil & Gas, Banking and Insurance. For more information visit

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Crypto Pharaohs Builds the First Wonder of the Metaverse

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