UREEQA Brings Validation as a Service to the Market
Slowly — far too slowly, if you ask us! — the digital space is beginning to grasp just how much damage fraudsters have inflicted on the NFT realm. The problem is most marketplaces and platforms have focused so much on accommodating skyrocketing NFT demand that they’re far behind when it comes to policing piracy, fraud and theft in those spaces.
UREEQA to the rescue.
We saw this coming at the outset and have been working 18 months to develop, test and refine our revolutionary validation process. And now, our system is ready to be implemented anywhere in the digital world as a Validation-as-a-Service (VaaS) solution.
For those new to our platform, our validation service generates a Package of Proof™ and a Responsibly Minted™ NFT, which come together to serve as evidence that a creator and their creation are legitimate. Now, any NFT enterprise can integrate the core components of that platform into their marketplace, just like that. And so too can any auction house or creator association.
“The initial model adopted on the fly by NFT marketplaces was so hurried and demand-focused that it enabled bad actors to take advantage of the situation,” UREEQA CEO Kirk Fergusson said. “Efforts need to be made to curb their abilities to easily perpetrate fraud, and we have the answer with a patented process and a blockchain-based solution that can be asserted on any NFT platform.”
UREEQA’s revolutionary system — which has been tried and tested with a variety of renowned artists on the company’s own marketplace — is a creator-centric hybrid approach to validation and IP protection. The platform’s patented validation process enables verification via a centralized model, while generating a Package of Proof™ on the blockchain for anyone to see in decentralized fashion.
Participating marketplaces can visibly delineate creations that have gone through this thorough assessment process — highlighting the extra steps that creators have taken to instill confidence amongst prospective purchasers.
“Building scalable world-class NFT marketplaces to address early adopter demand has taken considerable effort over the past year,” Fergusson added. “At UREEQA, we’ve spent the last 18 months building a validation solution designed to support creators first and foremost — and this patented technology is now available to NFT marketplaces to eradicate fraud and instill trust in the creations they’re offering through their platforms. By leveraging our technology, NFT marketplaces can quickly work to stamp out fraud while preparing their marketplaces for broader mass market adoption.”
The UREEQA platform strives to protect creators’ work, their rights and their revenue by harnessing the power of blockchain technology.
Established in Canada in 2020, UREEQA is modernizing the inefficient and bureaucratic systems currently in place for copyright protection. By building a robust and compelling Package of Proof™ for source creative work, UREEQA only mints Validated NFTs to represent creative rights. This helps keep buyers safe by giving them confidence that the work they are purchasing was minted by the smart contract approved by the creator of the work and is therefore authentic.
UREEQA provides value and opportunities for its creators, validators and token holders via URQA, the token at the heart of the UREEQA ecosystem.
Statements in this article, including any statements relating to UREEQA’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in technology development and commercialization. As a result, actual results may vary materially from those described in the forward-looking statements. Do your own research!