Starting from May 20th, PayPal (NASDAQ: PYPL) will no longer accept claims from buyers and sellers of non-fungible tokens (NFTs), nor open disputes such as ‘item not received,’ ‘unauthorized transactions,’ and similar issues. 
If a user reports unauthorized account access to PayPal, the company reserves the right to accept or reject the claim if the disputed transaction meets qualifying requirements. 
Previously, risks associated with buying and selling NFTs were covered by PayPal’s buyer and seller protection programs. These programs refunded buyers for falsely advertised goods paid through PayPal, or compensated sellers who lost money due to payment disputes or fraudulent refund requests. 
Last year in September, PayPal filed a patent application with the US Patent Office for trading NFTs. The document detailed a system for conducting token transactions, promising users secure purchases and sales of NFTs through a third-party service provider. However, details about the patent application’s status have not been disclosed yet. It is possible that the patent application is still under review.

PayPal removes transaction protection for NFT buyers and sellers

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