OpenSea Reports 80% of NFTs Are Fake

According to SPORTTECHIE, OpenSea, the largest NFT marketplace, self-reported that more than 80% of its NFTs minted for free were unoriginal or fake.*

OpenSea is the world’s largest NFT marketplace.

Think about that. It’s astounding—especially when the public has already invested over twenty billion dollars in NFTs.

Fads are emotional, but functioning markets require trust and verification, not faith. Right now, the NFT market is experiencing fad-like growth, but when it comes time to mature, it will need a viable trust and verification mechanism. The problem is that digital objects are so tempting and so easy to copy or imitate and so hard for conventional tools to differentiate.

As we think on the subject, the answer is to model digital objects in as many dimensions as required to achieve a viable, auditable, persistent record of authenticity. There is only one high dimensional computing approach that meets this set of requirements. Our patented high dimensional Vector Learning™ technology will uniquely generate searchable, auditable, persistent authentication records for NFTs and other digital goods.

When the NFT market is ready to mature, we stand ready to help.

*Cohen, Andrew. “OpenSea Self-Reports That More than 80% of Its Nfts Minted for Free Were Unoriginal or Fake.” SportTechie, 31 Jan. 2022, https://www.sporttechie.com/opensea-self-reports-that-80-of-its-nfts-were-unoriginal-or-illegtimate.