"We've been looking at market manipulation, wash trading and plagiarism and then your run-of-the-mill phishing scam, which is also something that has been coming into the NFT space," Kim Grauer, director of research at Chainalysis, told CNBC."So, we do see that kind of connection with scamming in the overall market activity."
In an email to CNBC, an OpenSea spokesperson said:"We prioritize the trust and safety of all people on OpenSea, and are working hard to make sure that creators, buyers, and sellers alike feel supported by our policies, tools, and service." Competition in the NFT space has also been heating up as regulators pay more attention to the crypto industry. So what's next for the world's largest NFT marketplace? Watch the video above to learn more about the rise of OpenSea and what it could mean for the growing NFT industry.