NFTs are created unique; Unfortunately, checking their rarity and ownership is difficult, often requiring tedious manual filtering and diligence.
Digital collectibles that now exist as non-fungible tokens (NFTs) continue to be issued at an unprecedented rate. Unfortunately, the huge number of new projects makes it difficult for investors to determine which projects are worth investing in. Because of this, many consider the rarity of an item to be the determining factor in determining how valuable an item is and how desirable a design is. will be with investors.
The caveat is that NFTs designed to be unique or inherently unique can be duplicated and the data transformed (cropped, rotated, stretched) or subjected to tiny additions that can make a valuable collector’s bad copy. Therefore, in order to guarantee the authenticity and rarity of digital collectibles, it is up to the collector or creator to determine or prove the item’s unique value.
Pastel Network is an NFT-focused blockchain recognized as a fully decentralized, developer-friendly layer 1 solution that serves as the cutting-edge protocol standard for Web3 technology. The resulting blockchain was created with the goal of addressing the inefficiencies, scalability issues, and accessibility issues that NFT decentralized applications (DApps) currently face on other blockchains. Working with the NFT space, the project can integrate its technology with any native layer 1 block chain and layer 2 DApp – its advanced technology is available through APIs such as Pastel’s Sense Protocol to detect near-duplicate NFTs.
The Sense Protocol allows users to measure the relative rarity of an NFT and authenticate it, protecting creators and collectors from fakes, scams and scammers. This unique protocol is a powerful duplicate detection system for NFTs on the Pastel network with the ability to detect subtle similarities between two digital collectibles.
Due to the high-tech nature of the offering, Pastel Network has released a public demo that clearly demonstrates the tangible benefits of the technology to users. Namely, prior to the release of Sense, there was no easy way for creators and collectors to determine the rarity of an asset, a gap in the market that few outside of a group of DeFi veterans could understand without educational materials complemented by a public demonstration.
NFT Fingerprint Verification
The Sense protocol uses deep learning models to transform each NFT into a multidimensional fixed list of numbers (known as the NFT footprint vector). The algorithm then evaluates the probability that a given fingerprint is a duplicate by comparing it to a database of existing fingerprints.
In addition to allowing Sense to identify duplicates and effectively eliminate fraud, the protocol determines the true value of digital collectibles. Note that when cost is directly related to rarity, each additional level of authentication ensures that NFT creators are properly credited for their contributions. For example, if another creator created something similar to the original design, their work would not reach the same rarity rating as the original NFT.
In practice, assets are assigned a rarity value ranging from 0.00% to 100.0%, indicating the likelihood of an NFT being a duplicate compared to a previously registered NFT. Then, for any asset with a rarity value of more than 75%, “rare” badges will be issued. These values are just one of the Sense outputs a user can find for a registered NFT.
Others include the 10 most similar tables, NSFW score and analysis, web sparse results, fingerprint vector map, IPFS link to full Sense Log results, and SHA3-256 hash of full Sense Log results.
MORE INFORMATION ABOUT PASTEL NETWORK HERE
As the startup intends to change the game for the NFT ecosystem, Sense will run on Cascade, Pastel’s other famous protocol. Cascade exists as a layer of decentralized storage built on top of the Pastel Network, allowing users to store data for a one-time upfront payment. This proposal effectively solves the lack of permanent decentralized storage that the market is suffering from today.
Changing the NFT Game