One of the biggest concerns when buying an NFT is to ensure that what you’re buying is authentic, and not a copycat NFT, or an NFT that is using stolen artwork.
No method is entirely foolproof, but there are a number of steps you can take to check if an NFT is authentic.
To combat copycat NFTs:
- Only use official links. This helps to protect from copycat NFT collections. If you want to ensure you’re buying NFTs from the legitimate creator, only use links from their profile.
- Check the price. Copycat NFTs will often be listed at a bargain price to lure unsuspecting buyers. If a price looks too good to be true, it probably is.
- Check the transaction history. Many NFT marketplaces and services can provide a full history for an NFT. As an example, if you see a Bored Ape listed on an NFT marketplace, but the metadata says it was minted more recently than April 2021, it is likely a copycat.
- Check the blockchain. Many creators will only utilise one blockchain. Is the NFT on the blockchain that the creator uses?
- Use trusted NFT marketplaces. Popular NFT marketplaces – such as OpenSea, Blur and Magic Eden – have methods of authenticating NFTs from popular collections. If you want to ensure you’re purchasing the real deal, stick to known, trusted marketplaces.
To combat NFTs using stolen artwork:
- Do a reverse image search. This will help to determine if the artwork for the NFT is original, and/or if it is made by the same artist.
- Ask the NFT creator. If you are skeptical of the nature of the art for an NFT, chances are you’re not the only one. If you raise this topic with the NFT creator, what is their response? Do they provide a clear, reasonable answer – or do they obfuscate, get emotional, or block you?