UREEQA Brings Validation-as-a-Service to the NFT Marketplace
UREEQA, a leading company specialising in digital validation, has announced the launch of a new Validation-as-a-Service (VaaS) solution for content creators, metaverse experiences and digital marketplace. Specifically, the solution aims to tackle the prevalence of NFT fraud, while safeguarding NFT creators across marketplaces.
According to the company’s announcement, the VaaD solution allows UREEQA’s platform to generate a Package-of-Proof(tm) and a ‘Responsibly Minted'(tm) NFT, which serve as forms of evidence that both the creator and created NFT are legitimate.
“The initial exchange models were adopted by NFT marketplaces on the fly, hurried and so demand-focused that it enabled bad actors to take advantage of the situation,” UREEQA CEO Kirk Fergusson said. “Therefore, efforts need to be made to curb the abilities to perpetrate fraud in the first place. Then, UREEQA has the answer with a patented process and blockchain-based solution that can be integrated into most NFT platforms.”
One of the fundamental challenges of NFTs has been verifying digital ownership, and the credibility of parties, especially when one is selling any kind of series of NFTs. The platform’s patented validation process enables verification via a centralized model, while generating a Package-of-Proof on the blockchain for anyone to see in decentralized fashion.
Any ETH-based NFT sales platform can integrate the core components of the UREEQA platform into their marketplace with ease. And so too can any auction house or creator association. Participating marketplaces can visibly delineate creations that have gone through this thorough assessment process, highlighting the extra steps that creators have taken to instill confidence amongst prospective purchasers.