The Ether.Fi platform team announced that OpenSea, a popular marketplace for the trading of non-fungible tokens (NFTs), has banned the sale of any NFTs secured by staking Ethereum.
Ether.Fi enables users to generate a NFT for each validator created when they stake Ethereum, the second-largest cryptocurrency by capitalization.
Protocol CEO Mike Silagadze said 3,000 NFTs were being issued each day, backed by 6,200 ETH, and then put up for sale on OpenSea.
However, following this, the listings mysteriously disappeared. OpenSea subsequently responded by sending a formal letter citing that they do not support the sale of NFTs intended for financial activities.
Silagadze highlighted the ether.fan collection, calling it “just a wrapped ETH with a PFP function”, and questioned why OpenSea is deemed to be a “normal” platform when they essentially function as an unlicensed casino with people gambling away millions on artwork and other collectables.
Last month, Ether.Fi raised $5.3 million in a funding round led by North Island Ventures and Chapter One.
