Many non-fungible token (NFT) marketplaces are allowing digital collectors to identify artworks based on their creator’s wallet address thanks to a partnership with software giant Adobe.
In an announcement made today Tuesday, October 26, Adobe said it would partner with major NFT markets, such as OpenSea, KnownOrigin and SuperRare, to allow users to verify the authenticity of digital content. Adobe content credentials can add an NFT creator’s wallet address and social media information to the metadata of tokens that are available in a marketplace.
“This partnership furthers our commitment to empower users with more tools as we collectively rethink how we transfer digital assets over the Internet,” said an OpenSea spokesperson. “Working together with market leaders such as Adobe and the growing NFT community, we will continue to provide features to increase trust and transparency throughout the metaverse.”
It appears that the feature will continue to have the option for NFT creators to remain under a pseudonym, being able to choose to display wallet addresses linked to their online identity or their true social media profiles. Rare, another market that offers Adobe’s digital verification system, said that the feature would help “combat misinformation with attribution and verifiable veracity of content.”
According to data from DappRadar, OpenSea is the largest NFT market by daily trade volume, with over $ 50 million at press time. SuperRare, Rarible, and KnownOrigin rank well below, with daily trade volumes of roughly $ 1 million, $ 328,000, and $ 42,000, respectively.
OpenSea recently faced criticism from many in the cryptocurrency space after its head of product, Nate Chastain, was accused of inflating the prices of NFTs that appeared on the main page of the market before selling them. OpenSea said its employees are prohibited from buying and selling collections that are displayed on its platform.
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