OpenSea, a NFT trading company, revealed that it adheres to United States sanctions policy. It also confirmed that its platform bans Cuban artists.
NFTcuba.ART, a Cuban-based NFT Project, posted that its account was disabled on OpenSea. It stated that the ban affects “Not only Cubans living on the island, but also those of other nationalities who must endure censorship by web3 company. The US embargo does not prohibit Cubans from buying art.
OpenSea, the world’s largest NFT marketplace and headquartered in New York City, is currently the most popular platform. The platform allows users to buy, sell, mint and discover NFTs. According to the company, it is “the largest general marketplace for user owned digital items.” It supports multiple blockchains and offers the most diverse set of categories as well as the best prices for emerging and new digital item classes.
Why is OpenSea banning Cuban artists?
Twitter has been abuzz by the OpenSea ban against Cuban artists. This has sparked a debate about control, decentralization and whether the spirit behind the cryptocurrency ecosystem is being trampled upon in cases such as this. OpenSea had previously supported NFT artists in regards to creator royalty payments.
OpenSea insists that it follows only the nationally applicable policies as defined in its Terms of Service. It is a US-based company and must comply with local sanctions. This problem was also present in March, when Iranian artists were subject to the same restrictions.
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NFT Plazas first published the post OpenSea Confirms Ban on Cuban Artists