OpenSea’s “Gifting” Feature Causes Confusion Among Users
OpenSea’s “gifting” feature causes confusion among users. In the latest news, OpenSea posted a clarification on Twitter regarding the issue with the new feature as some people raised concerns about it.
The Confusion about Gifting Feature
Recently, OpenSea introduced a new gifting feature. How does it work? People can buy and send NFTs to another wallet in one transaction. But somehow, on some of the third-party wallet trackers, this new feature makes it looks like the gift recipient purchased the NFTs. To add the information, the third-party wallet tracker is a trading app that allows people to see the NFTs purchased by influencers or celebrities.
One Twitter account stated that the new feature is being “exploited” to make it look like celebrities or influencers purchase the NFTs when it is a gift. It might affect some NFT traders who follow influencers and celebrities and create FOMO in the community. It could lead them to buy the collections because of the influencers.
Opensea implemented a new feature and it's being exploited.
You can buy an item on behalf of a different wallet address.
People are buying on behalf of @garyvee, @pranksy, and other influencers. Wallet trackers show it as them buying the NFT themselves. Then people fomo in. 🤦♂️ pic.twitter.com/2h0JLb2x0n
— Jake (@JakeAndBakeNFT) July 31, 2022
Gary Vaynerchuk, one of the influencers, replied to the account by saying do not buy NFTs collections because of him. He also added that he is buying them because he likes them and for a long-term period.
Ugh – first pls -no one ever buy anything f just cause I do, I buy what I like and 99.99% for long term hodl while for some flipping is their intent .. #2 I hope we can get this slighted addressed so people don’t get fooled – that said, pls for the 1000 time don’t buy based on me
— Gary Vaynerchuk (@garyvee) July 31, 2022
OpenSea’s Response
Not long after the buzzing, OpenSea made a thread on Twitter clarifying the community. They also stated that the third-party wallet trackers mistakenly classify gifts as purchases. They added an explanation of the reason it happened. OpenSea ended the thread by saying they could have done a better job in tackling this issue.
Last week, we introduced a new feature that allows users to buy and send NFTs to another wallet in one transaction. It saves users gas if they want to buy an NFT for another wallet – a cold wallet, gifting to a friend, etc.
— OpenSea (@opensea) August 1, 2022
As it is clear, this issue can be a good reminder for everyone in the community not to adopt FOMO all the time.
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