To address the pressing issue of authenticity and provenance in NFT art, we sought insights from five industry leaders, including founders and co-founders. Their strategies range from creating an expert community for validation to cross-checking artwork on multiple platforms. Dive into their detailed measures to ensure the legitimacy of digital art assets.
- Create an Expert Community for Validation
- Use Metadata Verification
- Implement Platform Reputation System
- Verify Creator’s Digital Signature
- Cross-Check Artwork on Multiple Platforms
Create an Expert Community for Validation
Encourage a community of experts and collectors to participate in validating the authenticity of NFT art. This involves creating forums or platforms where experts can share their opinions and insights on specific artworks, contributing to a collective effort to confirm ownership and authenticity.
While it may not be foolproof, peer validation adds a layer of scrutiny and diverse perspectives to identify potential inconsistencies or red flags in the authenticity and provenance of NFT art.
Ben Lau, Founder, Featured SEO Company
Use Metadata Verification
One measure to confirm ownership of digital art assets is through metadata verification. By analyzing embedded information within the NFT art file, such as creation date, artist details, and previous ownership history, any discrepancies or tampering attempts can be identified.
For example, if an NFT art piece claims to be created by a certain artist but the metadata shows conflicting information, it raises red flags about its authenticity. Metadata verification adds a layer of confirmation for the provenance and authenticity of NFT art.
Roy Lau, Co-Founder, 28 Mortgage
Implement Platform Reputation System
Implement a reputation system for NFT art platforms, where users can rate and review the platforms based on their authenticity-verification processes. This ensures transparency and allows individuals to choose trustworthy platforms for NFT art transactions.
User reviews and ratings help address subtleties that might be overlooked, such as the platform’s track record of verifying ownership and authenticity. For example, a user might leave a positive review for a platform that promptly resolved an ownership dispute, providing confidence to other users regarding the platform’s measures. Continuous review and feedback on platform reputation ensure a robust system for confirming ownership of digital art assets.
Yoana Wong, Co-Founder, Secret Florists
Verify Creator’s Digital Signature
To ensure the authenticity and provenance of NFT art, one key measure I take is to verify the digital signature of the creator. This involves checking the blockchain for the original minting transaction, which confirms the artwork’s origin and legitimacy.
Additionally, I use established NFT marketplaces that have robust verification processes for artists and their work. This helps to confirm the ownership and history of digital art assets, safeguarding against counterfeits and unauthorized reproductions.
Eric Lam, Founder, Exploding Ideas
Cross-Check Artwork on Multiple Platforms
Check other platforms for similar artwork. While anyone can verify the metadata on a blockchain, it is important for buyers to check if the art already exists on blogs, social media, or even in physical form. Much like traditional art, the seller must be able to provide provenance and the story behind the artwork.
Derek Capo, COO, Starquix.com
