OpenSea blocks Cuban artists & collectors from its platform

OpenSea has prohibited Cuban artists and collectors from using the NFT marketplace. Reports about the ban show that up to 30 accounts held by Cubans have been delisted.

OpenSea is an NFT marketplace where creators can design, release and sell different NFTs of their choice to collectors who can mint these NFTs. Users of the platform can also resell their collectibles to other users. 

It was founded in 2017 by Devin Finzer and Alex Atallah and has grown to be the largest NFT marketplace by volume of trade and one of the most popular.

Further details about the rift between the NFT marketplace and Cubans reveal that OpenSea is acting in line with US sanction laws. Prior to the ban, there has been speculation about a disagreement between OpenSea and Venezuela, Iran, and Syria.

No operations in sanctioned regions

Cuba as a nation has been a recipient of several sanctions from the US. The friction has lasted for decades making firms such as Zoom, MailChimp, WeTransfer, and Gitlab not accessible from the South American nation.

A spokesperson from OpenSea explained that the company obeys the sanctions law of the US. And this law means that individuals and organizations in sanctioned regions cannot access OpenSea.

The sanction will affect Cuban arts and artists like Gabriel Bianchini, who minted the famous Hotel Havana that sold out in hours. NFTcuba.ART will also be restricted and unavailable for its over 120 million monthly visitors.

Apart from the Cuban ban, OpenSea has come under criticism recently with the discussion about removing royalty fees or not. The company has taken steps to resolve the matter after backlash from the global NFT community.

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