NFT marketplace OpenSea has announced updates aimed at increasing trust in the NFT space and preventing imitation. A Wednesday blog post detailed the changes made to improve verification and prevent ‘copymints’. Improved Verification to Build Trust The NFT space has been plagued with an influx of unverified “creators” and ‘collections’ making it hard to spot authentic creators and their work. OpenSea is updating its account verification and collection badging. The new system will feature authentic accounts and their work more prominently. In a bid to remedy the slow and cumbersome process of determining eligibility for verification and badging, four main changes have been made. These include: An invite-based system in which accounts with a collection value of 100 ETH and above will be invited to apply for verification. OpenSea clarified that the criteria for eligibility will continue to expand. For collection badging, verified accounts will be able to apply for badging for eligible collections. 100 ETH volume applies here too. Eligibility is expected to broaden soon. Creators will be notified of their eligibility and guided through the verification and collection badging process. A customer service team with the sole purpose of handling verification collection badging will be on hand to process applications within 7 days. Hi – please fear not! As we mention in our blog post, this is just our starting point (we have to dial up ...
