Tovera, which fights online fraud, has rolled out a new platform to combat NFT fraud, a press release said Thursday (May 19).
Called FNFTF.io (Fight NFT Fraud), it will give creators, markets and collectors ways to identify fraudulent content using indexing and matching.
So far Tovera Match has indexed 70 million NFTs across the Ethereum and Polygon blockchains, and plans to do more.
Tovera Match can be used for free with FNFTF.io, the release said. It will be available through an application programming interface (API) to help power authentication for NFT markets, too.
FNFTF.io lets users upload any NFT and see the results based on a number of criteria: image solidarity, contract, date and blockchain, along with file type, block number and token ID, with more coming soon, according to the release.
“We believe in the long-term future of content in the Web3 space and know that trust is the key to mass adoption,” said Kristian Kielhofner, founder and CEO of Tovera. “If we think back to the dawn of eCommerce, consumers were wary of exposing their credit card information online, then along came trust and verification services to help build confidence. We’re at a similar crossroads. We have launched FNFTF.io to demonstrate the power of Tovera Match so that everyone understands the value of verification and can join the movement to stop NFT fraud.”
The European Union is reportedly close to adding more rules for crypto assets including NFTs, PYMNTS wrote.
This comes as the EU lawmakers are realizing their existing rules may have needed improvements.
The EU may look into forcing NFT issuers to register before becoming operational. It might also make tighter rules on overseas exchanges, and impose more rules to curb crypto mining and save energy. The report notes EU lawmakers might want to see NFTs included to make sure they’re not used in money laundering schemes.