GhostMarket strives to try and provide NFT buyers with confidence in the collections sold on our site. While we take care to moderate and remove illegal copies or counterfeit NFTs minted or sold, the nature of this sector means that sometimes buyers can buy NFTs that are not authentic.
To provide some security to buyers we have introduced a Collection Verification process (outlined below), that will give some assurances to those wanting to determine authenticity of collections sold on GhostMarket.
GhostMarket Collection Verification will mean that the owner of the collection in question has undertaken the steps outlined in the policy which, when authenticated, will provide a ‘blue tick’ next to their collection on GhostMarket.
By being verified on GhostMarket, you will be shown on the GhostMarket website in (but not limited to) the following ways:
- With a blue tick next to your Collection name
- You will be displayed (in alphabetical order) before unverified collections, when someone searches ‘All Collections’ on our website
- Items within the verified Collection will also display the blue tick when individually selected
- Newly minted and current ‘for sale’ NFTs within the Collection, may be featured on the GhostMarket homepage.
- Your Collection may be promoted via our social media channels.
In order to be considered for Collection Verification on GhostMarket you must have achieved at least the following to apply:
- A Collection must have a minimum of 50 NFTs minted
- Your trading volume must be at least US$5,000
- Have a least one social media account attached to your collection, that has at least 500 followers and is an active community
- Provide a valid email address for your collection (that is linked to your social media accounts)
- Be willing to provide a google drive link to view the original files on the collection to demonstrate your work in the design process (to verify you are the original author of the collection)
- The collection wallet address must not previously have been flagged by the GhostMarket Team, as having minted or sold a counterfeit NFT or breached copyright over selling an NFT it did not have the rights too.
The following collection types will automatically be awarded verification (without necessarily having to undertake the above requirements):
1. Artist profiles or collections created by notable (famous) people or organisations and endorsed officially by them (eg: bands, musicians, politicians, organisations, large brands)
2. Collections with substantial sales activity (of over US$100,000) and verification on other well established NFT marketplaces
3. Accounts that are at high risk of being subject to severe fraud and/or copying infringement, if not verified.
In the following circumstances collections will be automatically ineligible for verification if;
1. They have previously been flagged and/or banned from GhostMarket (including under a different name) for minting or selling copyrighted material or breached a trademark without the appropriate license
2. Collections that have engaged in, or have willingly tried to deceive fellow users, whether it be by minting, selling, bidding or in an effort to artificially raise the price of their NFTs
3. Collections that are spin-offs, homage or remex collections
4. If you have violated our ‘Terms of Service’ Policy prior to applying for verification, you will not be eligible.
As a verified collection, you will immediately lose your verification status if it is determined you have participated in any way to the above ‘ineligible for verification’ circumstances.
GhostMarket reserves the right to rescind verification status at any time, for any reason and without notice. Additionally, should you violate our ‘Terms of Service’ once verified, you may also lose your verification status.
Applications for verification can only be made via the official GhostMarket form.
Collections will be verified on a rolling basis during the month, via weekly assessment.
If you are not granted verification when you apply, you be ineligible to apply again for a further three (3) months
Meeting all of the collection verification requirements does not automatically guarantee the collection will be verified as the GhostMarket Team will have the ultimate jurisdiction on who becomes verified on the platform and when.