Derin Finzer, co-founder and CEO of openSea shared a blog post on the 8th of June stating about the efforts of OpenSea to prevent IP infringement, Plagiarism and scam. According to co-founder and CEO, OpenSea will safeguard its users from fraud and plagiarism while effectively offering the most extensive and diverse exposure to the NFT ecosystem.
OpenSea Terms set standards
OpenSea has clear and intuitive regulations and principles outlined in the Terms of Service about prioritising security, protection, and customer satisfaction. It states that under OpenSea Terms scam, plagiarism and IP infringement are banned.
Derin Finzer stated, “Comprehensive policies however are insufficient at our scale. As a result, both product and human-led are combined with systems that grow with the NFT ecosystem.
Terms of OpenSea define the standard about what is permitted on the network and these terms are considered as vital references for other NFT marketplace as they don’t implement and follow the same set of rules.
OpenSea network has recently released a “new verification system” to keep criminals away and be user-friendly for users. An image recognition technology known as “copymint prevention system” is the most advanced spam and scam reduction tool developed by OpenSea. It scans NFTs and detects redundancies. OpenSea is also enhancing search tools to support users in finding real information.
OpenSea product enhancement
OpenSea has created a series of product enhancements that help in working efficiently and act quickly by the team when any issue occurs.
- In- product reporting- This mechanism includes monitoring 24/7 by safety and trust team and eliminating suspected stuff.
- Account Compromise Tool- It is a self-help account violation tool; in case of wallet violation a user may access the opensea portal to prevent NFTs in their wallet to get displayed.
- Proactive Account Suspension- It prevents suspected malicious actors from exploiting the services.
- Smart Moderation Tools- To examine and handle the challenging collection
Open has also made significant investments in human-led processes through Customer Support, Community, and Trust and Safety teams.
OpenSea play an active role in solving issue, Derin Finzer
“With new technology and rapid user adoption come novel challenges. We recognize that as leaders, we have a responsibility to play an outsized, active role in solving these issues,” Finzer wrote.