Thursday, July 7, 2022

OpenSea adds NFT copy detection and verification features

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OpenSea rolls out features to “enhance authenticity” in the digital market, the company announced in a series by blog posts Today. The updates include a new system to detect and remove copycat NFTs and an overhaul of the account verification process.

“Copymints” are tokens that rip other NFTs and have proven to be a problem for platforms like OpenSea. Last year, the platform banned two collections that mimicked Bored Ape Yacht Club NFTs by flipping them over so that the image is mirrored. And although the owner of an NFT is recorded on the blockchain, there are many counterfeits. In February, OpenSea said that: more than 80 percent of the items it removed for violations were created with the free coin tool.

OpenSea says it is implementing a new two-part copy detection system, noting that copies make it harder for users to find authentic content. The company says it will use image recognition technology to scan NFTs on the platform and compare them to authentic collections, looking for flips, rotations and other variants. OpenSea says human reviewers will also look for removal recommendations.

“We are determined to thread the needle between removing copymints and giving room for those substantively additive remixes to thrive,” reads the blog post. OpenSea says it has already started removing objectionable content and will scale the removal process in the coming weeks.

Account verification on OpenSea is also getting an update. An invite-only authentication application is available for accounts with at least 100 ETH volume collection, and the company says it plans to add more eligibility soon. Collections can get a blue badge if they are owned by a verified account and meet the trading volume of 100 ETH.

OpenSea has rolled out other security features in recent months in response to reports of scams and fraudsters on or in connection with the platform. In February, the company announced a verified customer support system in response to scammers posing as OpenSea employees and gaining access to people’s cryptocurrency wallets.


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