OpenSea, the NFT buying, selling and trading platform announced on May 11 new security measures to deal with scams and content theft. On the program: the verification of user accounts and the introduction of a system to identify fake non-fungible tokens.
A system to fight against fake tokens
“Copymint” is the name given by OpenSea to false reproductions of a collection of NFTs. Omnipresent on the platform, these near-perfect imitations mislead potential buyers. Thinking of acquiring a token belonging to the real collection, the purchaser finds himself with a counterfeit of insignificant value. To combat this problem, the platform has decided to opt for a two-step verification system.
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Initially, an image recognition technology will scan all the NFTs present on OpenSea by comparing them to the most famous, most imitated collections. It will check that the fakes aren’t just a flipped mirror image, etc. Then, in a second step, a human will check that there are no errors.
OpenSea’s goal is not to completely prevent the existence of collections that are inspired by others, ” We are committed to finding the right balance between removing copies and allowing remixes that make a substantial contribution to thrive. », Explain the platform.
OpenSea wants to verify everything
Always with the idea of protecting its users from the scams running on their site, OpenSea has unveiled its new verification system allowing profiles to be assigned an authenticity badge. It used to be very long and tedious to get a verification badge for your collection.
Preview of the badge used to certify the authenticity of an account on OpenSea. Image: OpenSea.
From now on, OpenSea will invite all accounts with more than 100 ethers of NFT and collections having generated at least 100 ethers of transaction, approximately 193,000 euros at the current price, to identify themselves with the platform to obtain a verification badge. The site will ask those concerned for a profile name, an identifier, a verified email address and a Twitter account to carry out all the checks.
Once verification is complete, the account will have its authenticity badge. ” We are committed to ensuring that any genuine creator’s account can be verified while preventing scammers from entering the system », precise the platform.
With these new measures, OpenSea hopes to add enough obstacles to block the way for scammers who are rampant on its site. One more step to secure a sector that has too often been the target of hacking.