An NFT smart contract is a mechanism for implementing a sale agreement between the NFT owner and the buyer. Smart contracts are self-executing and can check that the contract terms have been satisfied, as well as execute the terms without the need for an intermediary or central authority.
NFTs which are part of a collection can be verified on NFTrade to prove their legitimacy of the NFTs. NFTs can be easily copied and dispersed on any NFT platform, which any unsuspecting investor may purchase without releasing what they bought was a scam.
The following article shows you how to identify a verified NFT collection on NFTrade.
How to Identify a Verified NFT collection by Search
As shown in the image above, when searching for ‘district’ many results appear. The last two search results show ‘Redlightg Districts’. What is noticeable is the blue tick located to the right of the NFT collection name.
How to Identify a Verified NFT collection by Contact Address
You can copy the NFT collection contact address from the project’s website or other social platforms, verifying the contact address from the project is a reliable source. For the example above, the contact address for the unverified ‘Refight Districts’ NFT collection is 0x9ada04af0b1c989a188f0063358f2d0530327386.
You can copy any contact address on the NFTrade search bar to see the collection. Once on the NFT collection page, you will see if it is verified or unverified.
Unverified NFT collection
When entering the contact address 0x9ada04af0b1c989a188f0063358f2d0530327386 in the search bar, the following results display on the NFT collection page. As you can see, there is a red ‘denied’ logo to the right of the NFT collection name.
We can confirm that this contact address for this NFT collection is unverified.
Be sure that you are purchasing a verified NFT, NFTrade displays this with a blue tick verified logo and a red denied logo for an unverified NFT collection.
NFTrade is the first cross-chain and blockchain-agnostic NFT platform. We are an aggregator of all NFT marketplaces and host the complete NFT lifecycle, allowing anyone to seamlessly create, buy, sell, swap, farm, and leverage NFTs across different blockchains. Using NFTrade, anyone can gain access to the entirety of their NFT, unlocking the total value of the NFT market.
How to Confirm a Verified NFT collection on NFTrade was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.