An overview of the copy detection and verification mechanisms in OpenSea NFT; an attempt to reduce copymints.
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In a series of blog articles, OpenSea announced the launch of features to “enhance authenticity” on the digital marketplace. A new mechanism to detect and eliminate imitation NFTs, as well as an overhaul of the account verification procedure, are among the upgrades.
What are copymints, exactly?
“Copymints” are tokens that plagiarize other NFTs, posing a difficulty for systems like OpenSea. Last year, the site outlawed two collections that were mirrored versions of the Bored Ape Yacht Club NFTs. Fakes abound, despite the fact that the owner of an NFT is recorded on the blockchain. OpenSea claimed in February that its free minting tool was responsible for over 80% of the products it removed for breaches.
OpenSea is deploying a new two-part copy detection system, claiming that copies make it more difficult for consumers to find genuine content. Image recognition technology will be used to scan NFTs on the platform and compare them to authentic collections, looking for flips, rotations, and other deviations, according to the business. Human reviewers will also consider removal proposals, according to OpenSea.
“We’re committed to threading the needle between eradicating copymints and allowing substantively additive remixes to thrive,” states the blog post. According to OpenSea, it has already begun eliminating objectionable content and will accelerate the process in the coming weeks.
OpenSea’s account verification is also getting an upgrade. Accounts with a collection of at least 100 ETH volume will be eligible for an invite-only verification application, which the business aims to expand soon. When owned by a verified account and trading volume of 100 ETH, collections can get a blue badge.
Following allegations of scams and fraudsters on or associated to the site, OpenSea has added additional security safeguards in recent months. Scammers impersonating OpenSea employees were gaining access to people’s cryptocurrency wallets, so the company established a validated customer assistance mechanism in February.