Non-fungible token (NFT) platform Cent has recently suspended trading, Reuters has reported citing the marketplace chief Cameron Hejazi.
He has claimed he has taken this decision due to the sale of copied and counterfeit NFTs from users who do not own the rights to the tokenized content.
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Hejazi has said that this is a "fundamental problem" in the emerging digital asset market.
Cent currently has 150,000 users. In March 2021, Twitter founder Jack Dorsey sold his first tweet as an NFT for $2.91 million.
In January 2022, NFT marketplace OpenSea reported more than 80% of NFTs created with the free publishing option were plagiarism, forgery or spam.