The issue has become so prevalent that some marketplaces have initiated their own internal tools to flag potential fakes. “Brands are struggling to balance how to make use of their digital assets for marketing and sales purposes with protecting their intellectual property, as well as saving their customers from unknowingly buying counterfeit NFTs." "The NFT landscape is a new frontier-and right now it’s operating a bit like the Wild West,” Lee tells The Art Newspaper. It scrapes data from NFT platforms like OpenSea, Superrare and Rarible, offering subscribers a way to flag potential fakes and forgeries.Īccording to its chief executive, Mark Lee, a Harvard Law graduate and expert in brand counterfeiting and intellectual property theft, the aim is to auto-report counterfeit listings to respective NFT marketplaces via bots that analyse new listings once a week. MarqVision, an AI-powered IP protection service aims to protect brands and artists from NFT fakes. But a new proprietary tool is hoping to change that. The problem? It was not made nor endorsed by the Chinese dissident artist.Īmid the parabolic rise of NFTs in the last year, instances such as this are becoming increasingly common, and fakes and forgeries have become a headache for marketplaces. In 2021, the NFT online auction platform Nifty Gateway tweeted to promote a video titled House of Marcial that depicted a room full of Ai Weiwei’s famous sculptures.
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