PayPal has declared modifications to its Seller Protection Program, which will no longer cover Non-Fungible Token (NFT) transactions starting May 20. This move comes as a significant shift in the digital asset space, given PayPal's previous support for cryptocurrencies and blockchain technology.

The implications of this change are yet to be fully understood. However, it could potentially impact the NFT market, which has seen exponential growth and widespread adoption in recent months. As one of the leading payment platforms globally, PayPal's decision may influence other financial institutions' stance on NFTs.

The company has not provided a specific reason for this policy change. It remains to be seen how this will affect the broader crypto industry and whether other digital payment platforms will follow suit.