The notorious “delisting bug” from OpenSea has struck once more. However, this time it affected Azuki, momentarily delisting a number of Azuki NFTs from the marketplace. Similar circumstances have occurred in the past, most recently at the Bored Ape Yacht Club in June.
The Delisting Case Affecting Azuki on OpenSea
One of the largest and most popular NFT collections, Azuki, tweeted yesterday evening, September 30th, saying: “We have contacted OpenSea regarding the delisting emails sent to Azuki holders, expecting a response. We believe that we are dealing with a mistake or problem comparable to this one (referring to a previous BAYC delisting). As we try to fix this problem, @DemnaAzuki will tweet, so check Discord for those updates.
The problem was fixed in under one hour and six minutes (after the initial Tweet). Then, all of the NFTs that had previously been delisted were returned to their respective owners’ wallets.
OpenSea cited their “Trust & Safety Flagging System” as the cause of the Azuki delisting on their platform in order to assign blame for the inconvenience.
The Bored Ape Yacht Club incident prompted the Yuga Labs-owned business to get in touch with OpenSea to make sure it didn’t happen again.
What Happens If You’re Delisted
Delisting is not a desirable situation for either the project or the market. The possibility that some of their users would never see their NFTs again may have caused Azuki to develop concerns. Additionally, one of the largest projects on OpenSea’s platform was abruptly delisted. This is never going to look nice.
Customers may stop using the marketplace and collection as a result. The purchasing and selling of a particular NFT collection frequently ends during delisting periods. If consumers begin to accuse them when they have done nothing wrong, it might also result in a floor price reduction for the collection in dialogue.