How do you know the real NFT from fake Hashmasks?

Writing: 0x13, rhythmic BlockBeats

OpenSea has a large number of fake HashMasks on its shelves and is asking users to look for them when buying them, the official of NFT's blind box project HashMasks tweeted on February 2.

HashMasks, the hottest NFT blind box item in recent history, has taken OpenSea to the top spot in less than a week with total sales of 5270ETH, or $7.9 million.

OpenSea is the largest NFT trading platform at present, and all users can cast NFT and upload it for sale. Therefore, there is always the problem of fake products. In addition, OpenSea also integrates several NFT trading platforms, including Rarible and Mintable, etc., and most of these NFT trading platforms also allow users to cast NFT and upload it for sale. Therefore, there are a large number of fake NFT.

So, what scams exist at OpenSea that might cause us losses? How should we discriminate when we buy NFT in OpenSea?

The deception was revealed

1. It's a cover-up

This is the most common and easiest to identify fraud. Scammers will download pictures of the most popular NFT projects, upload them, cast them into NFTs and sell them. Users will pay a high price to buy a fake if they are not careful.

In the case of this photo, the fake Hashmasks were created by the scammers who uploaded them to Rarible and made them into a NFT. At the time of writing, the fake masks had recently sold for a whopping 5ETH, or about $7,500.

2, the secret Chen Cang

This scam is an updated version of the last one.

Fraudsters will buy an authentic NFT, package it with a fake NFT cast using the method described above, and put a premium on it. If the buyer is eager or does not look carefully, it may be mistaken that everything in the package is genuine.

Fish in troubled waters

This scam is less common, but it's worth mentioning.

The main settlement currency of OpenSea is Ethereum, and the seller's order usually uses Ethereum as the settlement currency. In this case, users with ulterior motives may use other currencies as the settlement currency to quote for NFT.

Take the picture for example, in the picture, the seller's listing price is 0.17ETH, which is about 255 US dollars when it is equivalent to US dollars, while the buyer's offer is almost the same in terms of numbers, 0.16, but the currency is USDC, that is to say, the buyer's offer is only 0.16 US dollars. If the seller agrees to the offer negligently, he will suffer a heavy loss.

How to avoid being cheated

Have seen several means of fraud, then what should we do to avoid being cheated?

First, we need to look at the source of the NFT before we buy it, and see if it comes from the project's official OpenSea store.

After we open the product details page, the store where the NFT is located is in the red box in the figure above, and the check mark on the back indicates that the store has been officially certified by OpenSea. Popular items like HashMasks are officially certified by OpenSea and it's best to buy from the HashMasks store entrance before choosing from it.

However, it should be noted that platforms such as Rarible and Mintable are also officially certified by OpenSea, but because these platforms allow users to upload cast NFT at will, there may also be fakes.

Second, if you are worried about OpenSea, you can first use social media to find out which project or artist the NFT you want to buy from, and then find or ask where they will be selling it. Project parties and artists often choose to advertise on social media, coming in from the links they share and making purchases.

In a word, "careful" is the most effective way to crack the fraud means, I hope you keep careful and pay attention to screening when choosing NFT, to avoid being cheated.

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