OpenSea’s new measures hope to combat fake NFTs

OpenSea is building a new system to spot NFT fakes and verify accounts to reduce the industry’s growth Fraud problem. in a a pair blog’s postNFT Marketplace details changes users can expect, including opening up verification to more users, automatic and human-assisted removal of so-called “copymints,” or fake copies of real NFTs, and changes to collection badges — the way NFT collectibles are identified High sales or high interest – issued in the market.

First, OpenSea will use a two-part system to detect fakes that combine image recognition technology and human reviewers. The company says its new system will continuously scan all NFT collectibles, including newly minted assets, for any potential fakes. Human reviewers will review any removal suggestions.

“Our New Mint Prevention system uses computer vision to scan all NFTs on OpenSea (including the New Mint). The system then matches those scans to a set of real collectibles, starting with some of the most replicated collectibles – We’ll be looking for flips, rotations, and other permutations,” OpenSea’s Anne Fauvre-Willis wrote in the post. The company said it had already detected some fakes through its copymint detection system, and plans to scale up the technology in the coming weeks.

The company has also made some updates to its verification and badge systems. OpenSea will open account verification to any creator who holds at least 100 ETH collected, currently equal About $205,000. This essentially means that the seller must already have a large number of NFTs for OpenSea to verify. Market said it plans to expand the eligibility criteria for verification as it continues to learn more. If the transaction volume of the NFT collection exceeds 100 ETH, they will also receive a collection badge. OpenSea also requires a profile name, username, verified email address and connected Twitter account for account verification.

All these changes may create some obstacles for NFT scammers.More and more liars complicated in their tactics – some even create Fake Discord server and website or pretend to be an actual employee of an NFT company.Verifying the real identity of the seller is a long-standing problem in the NFT world, where anonymous is an important part of culture. NFT artists usually go through alias Instead of their real names, the same goes for NFT buyers. Unfortunately, this culture has allowed NFT thieves and copycat artists to flourish.

All products featured by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. We may receive an affiliate commission if you purchase through one of these links.



Source link