The updates are an attempt to cut down on plagiarism and fakes
OpenSea is rolling out features to “improve authenticity” on the digital marketplace, the company announced in a series of blog posts today. The updates include a new system to detect and remove copycat NFTs and an overhaul to the account verification process.
“Copymints” are tokens ripping off other NFTs and have proved 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 so the image is mirrored. And though the owner of an NFT is recorded on the blockchain, fakes are rampant. In February, OpenSea said that over 80 percent of items it removed for violations were created with its free minting tool.
OpenSea says it’s implementing a new two-part copy detection system, noting copies make it harder for users to find authentic content. The company says it will use image recognition tech to scan NFTs on the platform and compare them with authentic collections, looking for flips, rotations, and other variants. OpenSea says human reviewers will also look at removal recommendations.
“We’re committed to threading the needle between removing copymints and giving space for those substantively additive remixes to prosper,” the blog post reads. OpenSea says it’s already started removing offending content and will scale up the removal process in the coming weeks.
Account verification on OpenSea is also getting an update. An invite-only verification application will be available to accounts with a collection of at least 100 ETH volume, and the company says it plans to broaden eligibility soon. Collections can get a blue badge when owned by a verified account and meet the 100 ETH trading volume.
OpenSea has rolled out other safety features in recent months following reports of scams and fraudsters on or related to the platform. In February, the company announced a verified customer support system, a response to scammers who were impersonating OpenSea employees and gaining access to people’s cryptocurrency wallets.
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OpenSea is adding NFT copy detection and verification features – The Verge