Mintverse is Bringing Project Verification to NFTs in order to Provide Investor Protection

Bringing Verification to NFT collections

To improve the quality of NFT collections and improve investor protection, Mintverse with NFTSCAN is introducing project verification for all projects allowing them to sign the verification contract to provide authenticity and legitimacy for NFT collections on Ethereum and BNB chain by curbing duplicates and counterfeiting.

Mintverse Founder, Rene Cao, said:

The purpose of this campaign is to offer projects with the promise of exponential growth an opportunity to get featured which is something that marketplaces and aggregators holding the majority of the market don’t offer. We want to give everyone an opportunity to enter the limelight of the NFT ecosystem, but we will definitely ensure we put out quality projects out there with the highest potential.

The Mintverse and NFTSCAN verification effort boost the desirability of Ethereum and BNB Chain applications. Projects may be easily validated on both platforms using this project verification site.

Mintverse and NFTSCAN's verification procedure differs from artists and projects tackling OpenSea verification. The size and involvement of the community, the background of team members, on-chain data, innovation, and sustainability are all included in the material and outline submitted. Furthermore, the technique extends well beyond aggregate trade volume, enabling new ideas to take center stage.

How will Digital Art Look in the Future?

Large art transactions now account for nearly a quarter of all NFT purchases that have helped NFTs receive public recognition. An American artist named Beeple auctioned his digital artwork at Christie's earlier for $69.3 million, making him one of the "top three most expensive living artists." The current buyer of the NFT will get a 10% royalty every time they acquire the NFT.

No one can deny that Winkelmann's success in the digital age is widespread. Bitcoin Angel by Trevor Jones sold for $3.2 million in March, while CryptoPunk #7804 was sold for $7.5 million. Further, the original "Doge" meme worth around $4 million was fractionalized in August of 2021 into 16,969,696,969 $DOG tokens.

It's projected that the NFT market will continue to rise in 2022. In the same way that every other industry has its own dangers, so too does this one. To appreciate art, one must first consider what one is looking at – not just what it can achieve – since owning something one doesn't appreciate has little intrinsic worth.

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Image credits: Javier Miranda and Anshita Nair.

Disclaimer: The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence, asking the right questions, and equipping readers with better opinions to make informed decisions. The writer holds Bitcoin, Ethereum, Cardano, Solana and Cosmos. The writer has been commissioned to write this story and thus has a vested interest in the companies/products mentioned above.