This decision was made due to a large number of PFP-style NFTs that vary only very slightly. Joe noted that the team wanted to focus on the background and other attributes of the NFT. Vetted projects always have a better chance at success, but it ensures nothing at the end of the day. Due to the early and developing nature of the space, the critical element to staying safe is understanding the risk and sizing accordingly. Most crypto and Web3 participants promote decentralization and shoo away regulators such as the SEC. Magic Eden and Fractal both understand the importance of these steps and are moving forward to promote security and innovation where possible. While the above doesn't ensure a safe and successful launch, KYC and due diligence help sift through the fake builders. It doesn't matter about the utility, due diligence, or backing projects can and will still rug. Users shouldn't mint more than they're willing to lose. The first and foremost safeguard is to appropriately size and risk NFT mints. There won’t be a backstop for every NFT mint, so there are key points to take away. Speculation in NFT markets continues to run rampant, which has resulted in grifters. Regardless of safeguards, users need to understand that the risk ultimately falls on them. The team has paused all launchpads for the week to best suit the community and come to a solution. The team is committed to vetting procedures and locking mint funds moving forward.

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