Numerous high-profile cases have highlighted the vulnerabilities surrounding NFT copyright content and the urgent need for robust and scalable security measures. For example, pirates gain unauthorized access to the original content and distribute it freely or sell it without the creator’s consent.
As a result, the value and exclusivity of the NFT are diminished, impacting both the financial returns for creators and the perceived value for collectors. July 2022 saw over 4,600 NFTs stolen – the highest month on record – indicating that scams have not abated despite the current crypto bear market (Elliptic. NFT Report, 2022). These incidents underscore the importance of implementing effective security measures to protect the integrity and value of NFTs.
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