Introducing NFT Authenticity Verifying service for NFT platforms
Multiple utilities to fight against the Counterfeit NFT Problem
The rampant counterfeit NFT problem has threatened the operation and reputation of NFT platforms. If NFTs are destined to truly enter the mainstream, developers have to work together to provide standard consumer protections, diminishing the danger of these malicious actors.
The Counterfeit NFT problem and its severe consequences
When there is no barrier for people to right-click and save an NFT from the platform quickly, scammers can re-mint them on the same or another platform, selling the fake NFTs at a lower price.
OpenSea — the largest NFT marketplace, once admitted that 80% of their NFTs are “plagiarised works, fake collections and spam”. It has been partially caused by the “lazy minting” function, which allows creators to sell NFTs without minting on blockchains. Sellers don’t need to pay any minting and listing fees until an NFT is sold. This feature brought both conveniences along with the disadvantage of allowing scammers to list as many stolen items.
The Cent platform was a victim of the “rampant” minting of counterfeit NFTs since it had to limit some operations on Feb. 6. The NFT Trading function ceased due to the lack of control over forged NFTs despite putting much effort into deleting them. Cameron Hejazi, the co-founder of Cent platform, shared that the reason for Cent’s failure was that users kept on “minting and minting and minting counterfeit digital assets”. The most common way that spammers have used is cropping images and repeating minting action, which made the ban inefficient in addressing the problem.
Not only the platforms but also the collectors are in trouble of forged NFT. In 2021, Rarible started to survey users and revealed that 90% of people filling in the report had purchased fraudulent or plagiarised NFTs.
aiRight solution — NFT Authenticity Verifying Service for platforms
Because of the severe consequences of the Counterfeit NFT problem, it’s necessary for the NFT platforms to come up with some solutions to eliminate them and purify their marketplace to save your users. So aiRight team has developed the NFT Authenticity Verifying mechanism specialized for the NFT platforms in the form of AI APIs to address the above problems, enhance trustworthiness, and provide their creators with an advanced IP protection tool.
The Similarity Detection AI Model — core technology of the Authenticity Verifying Service
Our service uses the Similarity-detecting AI model — an AI Oracle by Oraichain as the core technology. It allows users to upload an asset (NFT contract/Image, Audio, Video) and receive a report, which shows similar NFTs collected over many blockchains and marketplaces with their metadata supporting to identify and evaluate authenticity, including:
- Minting contract
- Token ID
- URL to the marketplace
- Created time
- Verified by which organization
- Similarity score
The report gives users more clues to compare and evaluate if the checked NFT is an authentic, fake, or potential infringement. Especially, our AI model has reviewed 11 editing methods usually used by spammers to cover 90% of copied/infringed cases.
How the NFT Authenticity Verifying service helps save your platform and users from Counterfeit NFT Problem
NFT platforms can apply the information in the report to create various utilities to enhance operational efficiency.
1. Detect and eliminate the fake/scam/spam NFT on your platform
Our AI model can detect the fake/scam/spam NFTs on your platform and inform you to take action against them.
2. Support evaluating projects for Launchpad via minting contract — Advanced features
To evaluate an NFT collection, you can send our API its minting contract address and receive a report showing how many NFTs in the collections are reliable or get a red flag of potential infringement.
3. Proactively protect your trusted creators’ IP to attract creators
If you send to our API the contract address/NFT file of your trusted artists’ collections, the verifying system will:
- Return potential copied/faked NFT on other exchanges and blockchains
- Make a warning to your creators and request these exchanges to take them down.
This utility can be used to proactively defend your creators or provide add-on services on demand to people who want to protect their copyright over blockchains.
4. Increase the trustworthiness of the NFT on your platform by providing an add-on checking service on the marketplace
With our API, you can create a button allowing collectors to check the current NFT’s authenticity before purchasing.
Effortlessly integrating into your platform via AI APIs
Please visit the following Step-by-step instruction to get started integrating our APIs into your platform:
For more information or customization, please send a message to contact@airight.io.
Our team will contact you as soon as possible.
About aiRight
aiRight is an AI-based innovation of a safe, creditable environment for the NFT community and provides advanced community-driven tools for creators.
Oraichain is proud to be the ecosystem provider of aiRight: provide AI Oracle to secure NFT creators and collectors, accessing NFT Mint and Marketplace, Oraichain Wallet for assets storing and payment, and OraiBridge for cross-chain token transfers.
