[Start人] NFT Thief, MarkVision AI Will Catch Them for You

Detecting and Reporting Stolen NFTs Using Proprietary Algorithm for Removal
CEO Lee Inseop: "We Will Emerge as a Comprehensive IP Protection Company Bridging Online and Offline"

Lee In-seop, CEO of MarkVision

"We will make it possible to protect corporate IP through MarkVision wherever IP infringement occurs by making various efforts such as technological advancement," said Lee In-seop, CEO of MarkVision. He recently took a step closer to this goal by unveiling a solution that addresses the unauthorized use of NFTs (Non-Fungible Tokens) using artificial intelligence (AI) technology. The NFT market has explosively grown over the past few years across various fields such as art, content, games, and characters, emerging as a new asset in the global market. At the same time, cases of copyright infringement, forgery, and plagiarism have also surged.

On the 11th, CEO Lee stated, "In the case of famous brands, hundreds of NFTs have been uploaded without authorization on global NFT exchanges." In fact, in January, OpenSea, the world's largest NFT exchange, revealed that 80% of NFTs created for free on its platform were plagiarized or counterfeit scams. CEO Lee pointed out that despite the rapid growth of the NFT market, there is a lack of effective systems to protect intellectual property rights (IP). This is the background behind MarkVision’s recent launch of the ‘Global NFT Monitoring Service.’

MarkVision’s solution detects NFTs that have unauthorizedly used others’ copyrighted works or trademarks on global NFT exchanges based on its proprietary AI algorithms. The reporting and deletion processes are also automated. The monitoring scope includes major global exchanges such as OpenSea, Rarible, and Magic Eden. It also features the ability to remove counterfeit NFTs or illegal content traded on websites other than exchanges. CEO Lee said, "We expect this to help companies entering the NFT industry and NFT creators develop effective IP management strategies."

MarkVision was able to quickly respond to the ‘counterfeit NFT’ issue by leveraging its technological expertise built since 2020 through the development of an automated IP protection platform. This AI technology, which detects counterfeit products circulating in the e-commerce market, monitors sales sites 24/7 and identifies visually similar counterfeits through image recognition technology. When image-based identification is difficult, machine learning analyzes text data such as price, product information, and reviews to determine authenticity. This service currently detects and removes counterfeit products on over 100 e-commerce sites across 26 countries.

MarkVision, which has grown by starting with the protection of physical assets such as brand products through its AI-based counterfeit product monitoring platform, has expanded its business area this year to content and digital asset protection. CEO Lee emphasized, "Through the NFT monitoring service, we will grow into a comprehensive IP protection company that spans online and offline as well as the virtual world."