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OpenSea, one of the largest non-fungible token market platforms, has suspended its XP reward program for bidding and listing NFTs after receiving a strong community backlash. Earlier this week, the NFT marketplace launched its updated marketplace “OS2” and started allowing users to earn XP tokens through bidding and listing NFTs. The XP reward program stirred a heated discussion on X (formerly Twitter,) causing many non-fungible token floor prices to plunge. OpenSea Stops Its XP Reward System In a February 18 blog post, Dfinzer, the Chief Executive Officer of OpenSea NFT marketplace, confirmed that he and his team have halted the XP reward system for bidding and listing NFTs in the platform after receiving massive crypto community backlash. The NFT marketplace OpenSea launched its highly anticipated updated marketplace “OS2” alongside its native token $SEA over the past week. At the time, the market platform announced an upcoming token airdrop. we've heard th...

Porsche’s first foray into NFTs appears to have flopped after recording underwhelming sales and was heavily criticized by the community. Porsche criticized for 'low effort' NFTs, ends mint early Car manufacturer Porsche had to cut short a nonfungible token (NFT) mint of its famous white 911 model only two days after the public mint started, saying its “holders have spoken.” The Jan. 23 launch was seen by some as a huge flop for Porsche with just 2,040 of the 7,500 NFTs available having been sold at the time of writing. Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the best experience for an exclusive community. More info in the next hours. — PORSCHΞ (@eth_porsche) January 24, 2023 The mint was widely criticized by the crypto community for being “low effort,” “tone deaf” and overpriced. The price of the NFTs were set at 0.911 Ether (ETH) ($1,417). Really sad. No community. No comms. No value. Glad our community hasn’t f...