Say goodbye to fake NFTs – a $60 billion solution to the problem

  • People regularly fall victim to fake NFTs, but a simple solution can help avoid this problem.
  • REV3AL provides a reliable solution that allows you to get reliable and consistent results.

While reports of fake digital art continue to hit the news, this is not an issue unique to the NFT space. Since time immemorial, collectors and art lovers have always faced the challenge of authenticating their collectibles. 

Imagine that a collector travels from Australia to Paris to buy the famous Mona Lisa painting. Then they find out that they paid millions of dollars for a fake. We know this is breaking news material, but what happens next? 

  • Victims share their experiences in various media and news.
  • The museum/gallery (business) has lost credibility.
  • Collectors and creators are looking for new and trustworthy marketplaces.

Unfortunately, this sequence is all too common in the NFT market. People regularly fall prey to intruders, but a simple solution – a collectibles authentication system – can avoid this problem.

The question is how to create a reliable NFT value transfer system? The simple answer would be to find a way to identify anti-counterfeiting NFTs and fight them. This article addresses these issues and offers solutions for NFT enthusiasts. 

NFT Fraud Management

People generally ignore NFTs and avoid getting involved in the industry after being victims of NFT scams. Fake and bogus NFTs end up as worthless JPEGs in your wallet. And the negative media coverage of the NFT industry does nothing to reduce the fear, uncertainty, and doubt (FUD) that accompanies every fraudulent project. 

How will a solution to build trust and maintain transparency help the NFT industry?

REV3AL introduces a unique identification technology to the NFT market. This innovative system offers a solution that protects markets (as businesses), brands (as creators) and value (as collectors). 

Managing NFT Fraud with REV3AL

NFTs are online collectibles and assets. Attackers who create and distribute fake NFTs will duplicate fast-selling goods. Most people believe that NFTs are safe because they are minted and stored on the blockchain. NFT technology confirms ownership of the blockchain.

Fantastic art and images are just visual representations of the token. Anyone can save an image and use it on a different token, and it will be almost impossible for the untrained eye to tell the difference. An unsuspecting buyer may end up owning an expensive fake while the original is safe in the owner’s digital wallet. 

REV3AL provides a trusted solution that extends to marketplaces, creators and collectors to provide reliable and consistent results in response to authenticity requests.

How does REV3AL technology work?

Centralized exchange accounts can be used as digital wallets, especially among active traders. While decentralized wallets rely on mnemonic phrases and private keys, centralized exchanges use more appropriate measures such as OTP texts, emails, authenticators, etc., which can be annoying but worth it.

REV3AL runs on the same platform, but is faster and less annoying. How it works?

REV3AL embeds digital signatures, stamps and watermarks into NFTs as an additional layer of authentication. Retail customers can easily check and download the authentication level of the purchased NFT. These extra layers are like adding another lock to your doors.

The technology also adds hidden encryption as additional layers of security. Confidential encryption levels are verified and stored in a secure archive.

REV3AL inspires confidence. As a business, working with REV3AL allows your users to operate in accessible, safe and secure open markets, which ultimately increases trust between all parties involved. 

According to reports , about 80% of the free NFT mints in OpenSea were fake collections. If this continues unchecked, NFTs and marketplaces will remain vulnerable to counterfeiting. REV3AL is a solution that brings peace of mind to the NFT community.

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