After the massive hype around the metaverse, we have seen a huge growth in the NFT sector, with investors forking out millions of dollars for unique digital collectibles. But with the increasing demand, NFT markets became prone to various NFT scams and other malicious activities. So to curb these activities and authenticate sellers on its platform, OpenSea has taken steps with the introduction of new features. Here are the details.
How to Spot FAKE NFT's on OpenSea [Don't Get SCAMMED]
OpenSea recently shared a couple of blog posts to announce the new changes to the platform. These include a two-part fake NFT detection system, verification of OpenSea profiles and updated collection badges.
Starting with the two-part system to detect fake NFTs or "Copymints", it uses AI-supported automatic image recognition systems as well as human assistance to detect whether an NFT is genuine or not. The automated system analyzes NFTs to look for tilts, flips, rotations and other changes and matches the scans with a set of authentic collections. The company will also use human moderators to manage takedown recommendations and improve the operation of the automated system.
These changes will ensure the security of authentic NFTs and prevent fraudsters from recreating them with certain changes on the platform. The popular NFT marketplace believes the move will "improve trust in the NFT ecosystem by elevating authentic content and removing plagiarized works."
