Following reports that fake or plagiarized non-fungible tokens (NFTs) are beginning to spread, OpenSea, one of the top NFT marketplaces, is introducing new features to help detect and detect fake NFTs. .. This feature aims to eliminate counterfeit NFTs and eliminate the risk of fake or stolen art being sold as NFTs.
OpenSea aims to improve the reliability of NFTs through new features
According to the story by The Verge, OpenSea aims to “improve reliability” of NFTs by adding new features. Digital Marketplace has announced a series of updates and new features in various recent blog posts to help you reach this goal. Website..
The Blog post Learn about new OpenSea features, including an account verification process, and a new system that helps detect and automatically remove fake or copycat NFTs.
The rise of “copy mint” was a widespread problem
Copycat NFTs or “copy mint” are tokens that steal other NFT art and are a widespread problem not only in OpenSea but also in other digital marketplaces. In 2021, the platform had to deal with it by banning fake Bored Ape YachtClub NFT collections.
The trick used to create the fake BAYCNFT collection was to sell a mirrored version of the image. According to The Verge, the fake remains large, even though ownership is traceable on the blockchain.
A free minting tool that was abused and used by 80% of items that violated OpenSea’s rules
OpeanSea In February, we announced that free mining tools were used in over 80% of items that violated the conditions to be removed. According to the Digital Marketplace, real content is harder to find for copying, thus “implementing a new two-part copy detection system.”
The system looks for real content variations, flips, and even rotations. According to Opensea, removal recommendations are monitored by human reviewers to make the detection process more effective.
OpenSea updates confirmed account processes
According to a blog post, OpenSea has announced their commitment to finding fakes while successfully “substantially additional remixes.” Over the next few weeks, users will be able to see that the platform’s new security and reliability measures are working.
OpenSea is also updating the account validation process. Only collections with a volume of at least 100 ETH will get the “invitation-only verification application” that the company expects to grow soon.
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Blue badge added to OpenSea authenticated accounts
For collections with transaction volumes above 100 ETH, a blue badge will be displayed to indicate to the buyer that the NFT collection is from a confirmed account. As scams and scam reports have begun to appear, OpenSea aims to release feature updates in the coming months.
A validated customer support system was also included in the previous announcement in February. This corresponds to an OpenSea employee impersonating a scammer who was able to access people’s cryptocurrency wallets.
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Written by Urian B.
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