Software giant Adobe is trying to make it easier for nonfungible token, or NFT creators to prove they are the artists behind their work by linking social media profiles and crypto wallet addresses.
In an Oct. 26 announcement, NFT marketplace Rarible said it would be partnering with Adobe, allowing token creators to display the software company’s Content Credentials to verify the authenticity of the digital content. According to Adobe, this feature can add an NFT creator’s wallet address and social media information to the Content Credentials metadata of tokens listed on Rarible, helping “to fight misinformation with attribution and verifiable truth of content.”
As a member of Adobe’s Content Authenticity Initiative alongside the BBC, Getty Images, Microsoft, and Nikon, Rarible will still seemingly have the option for NFT creators to remain pseudonymous, with them choosing to display crypto addresses linked to their online identity or full real social media profiles. The identity of the buyer behind the $69 million purchase of Beeple’s NFT in March remained unknown until choosing to disclose their identity.
According to data from DappRadar, Rarible is the 8th largest NFT marketplace by daily trading volume, reported as $393,910 at the time of publication. However, the platform’s transaction volume has seen a significant decline since peaking at $2.5 million in April. OpenSea had more than $58 million in volume, putting it far above SuperRare, at $1.3 million.