The level of scam and fraud in the market of non-fungible tokens (NFTs) reached a new milestone as this new area even got new blockchain-based services that are hoped to help in the fight against the Achilles heel of digital collectibles.
Aja Trier, a digital artist, believes that fraudsters are dominating in this area after she found that her Vincent Van Gogh-style artworks had been copied into NFTs approximately 86,000 times on OpenSea without her consent. Trier told the Verge in a commentary:
I’ve seen other artists deal with NFT theft, but not to that extent. People said that they’d never seen it at that scale.
The explosion of plagiarism has already given life to new projects that are expected to help track bad actors. One of those startups like Sniffles.NFT automatically issues takedown requests for artists if someone steals artwork. However, industry experts agree that the issue isn’t going away anytime soon.
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While other marketplaces like Rarible implemented a human-moderated verification system, other NFT-focused marketplace giants like OpenSea are still allowing users to mint tokens for free via the so-called "lazy minting" even though the company admits that "more than 80% of NFTs created with its tool were plagiarized works, fake collections, and spam."