If you have been involved with NFTs, you have probably either heard of scams or been a victim. That is not an experience anybody enjoys and would like repeated.
NFT platforms are setting up features to detect and eliminate scams and frauds. The goal is to create a safe and secure buying environment for creators, collectors, and communities.
Doppel, a real-time, cross-chain monitoring platform for detecting NFT fraud (and counterfeits), was founded in 2022 to support the NFT ecosystem. It aims to build trust and infrastructure for content creators, collectors and marketplaces.
On May 24, 2022, it announced the close of a $5 million seed investment round led by FTX Ventures. Other seed participants included Solana Ventures, Polygon Studios, OpenSea Ventures, Dapper Labs, and SV Angel. This will aid in identifying counterfeit NFTs and people who may have bad intentions and will help ensure that NFTs minted, sold or bought on secondary marketplaces are legitimate.
Doppel supports NFTs across several different blockchains including Ethereum, Solana and Polygon – with plans to add Flow and others.
Co-founder and CEO of Doppel, Kevin Tian, said, “We began building Doppel due to the need for a platform to verify, secure, and protect NFT holders and creators. This investment round is a landmark moment for the company and will allow us to scale the platform, increase functionalities and grow our team to continue creating a platform that is relied upon by the entire NFT ecosystem. We’re excited for the future of Doppel and our future collaborations with major players in the NFT space who want to make serious investments in creator IP and community trust and safety.”
Doppel will use the funds from this seed round to upgrade its detection capabilities. The upgrades will make it easier to identify bad actors and expand the number of illicit activities they are able to monitor.
Doppel is being used by large and well known NFT creators such as Dapper Labs, and Yuga Labs is currently testing Doppel’s technology.