Non-Fungible tokens are extremely rare and unique digital assets that can be traded on specialised marketplaces. NFTs are stored in the Blockchain and tracked via NFT tracking platforms.
The transactions of the Non-Fungible tokens are performed on Blockchains. Each transaction is stored in a different block which has its own transaction code which cannot be duplicated. Hence, these blockchains are used to track and verify NFTs.
It is also important to note that once these transactions are complete, they become public information which can be accessed by anyone. You can check the credibility of an NFT via blockchain websites.
How Are NFTs Tracked And Verified?
You can verify the status of your NFTs by visiting the Etherscan.io website. The steps are mentioned as follows:
Step 1: Enter Etherscan.io And Paste Your Wallet Address
As the first step, open your web browser, head to the Etherscan.io webpage and paste your wallet address in the defined column.
Step 2: Choose The Tokens You Want To View
Next up, you can select the tokens you would want to view the transaction history of.
Step 3: Choose A Transaction Hash
You will now find a column stating “Txn hash”. Go over to the menu and choose a particular transaction hash. As you click on the view option, you will find in explicit detail an overview of the transaction details. Now you can go ahead and verify the details.
How To Verify NFT Ownership?
Nowadays, many scammers are fooling people and earning profit without having NFTs. People need to verify NFT ownership so that they do not get scammed by fraud people. There are some ways through which you can verify NFT ownership.
Apps To Verify NFT Ownership
Here’s a list of some of the top websites where you can verify your NFTs:
1. SuperRare
All of the artworks displayed on the SuperRare website are designed by a local artist and they are tokenized as an NFT. The digital assets available over the platform and the transactions are tracked by Blockchains.
2. OpenSea
Being one of the greatest marketplaces for all sorts of digital assets and NFTs, OpenSea allows you to purchase the NFTs available on the platform using all the different sorts of cryptocurrencies.
3. Myth Market
This is arguably one of the most detailed and varied marketplaces for trading NFTs. Myth Market is divided into five different niche markets where you can sort your preferences and perform transactions accordingly.
Also Read: What Makes A Good NFT Community?
Steps To Verify NFT Ownership
Now, coming back to the subject, here’s how you can verify NFTs ownership:
1. Verify NFT Owner Social Media Profiles And On The NFT Platform
Many scammers post fake ownership and sell announcements of NFT that they don’t own in reality. If you already know the NFT owner and follow him on social media platforms, verify before buying NFT.
If you do not know, ask for their social media IDs to see whether they have announced any NFT releases or not. Ways through which you can check ownership through the owner’s social media profile are-
- The NFT owner will, when announcing the NFT releases, he will also mention the NFT marketplace where you can find their NFTs.
- The NFTs owners will use and work on one marketplace only. Check whether their NFT is available for selling on one or numerous NFT platforms. If it is available on more platforms, it means the person is a scammer.
2. Check Whether You Can Sell NFT Using Its ID
If you have verified that the NFT owner is a genuine person, you still don’t know from whom he has bought the NFTs. The third person might have scammed the person who is selling his NFT.
You should verify whether you can sell NFT using its ID or not. If you know the number you have purchased, you can check the ownership.
Follow these simple steps to verify the ownership:
3. Verify NFT Owner Through Digital Certificates
Digital certificates can be used to verify the ownership and transfer rights of digital assets on the Blockchain. Not all NFTs have digital certificates, but some of them have digital certificates.
Digital certificates are like standard paper certificates, but they are not in physical form. In the digital certificates, some critical information is mentioned-
- Developing Date
- Creator name
- NFT status
- Serial number
- Token ID
- Programming Information
- Digital signature of the owner
Through blockchain explorers like Etherscan, you can check the ownership of NFT by looking at digital certificates. If you find the digital certificate, then it is a green flag, but if you don’t find it might not be authentic.
However, all NFTs do not come with digital certificates, but this is one of the best options if there is a digital certificate. If not, go through another verification process.
Also Read: Is NFT Art a Good Investment?
Check The List Of NFT Numbers You Own
If you own multiple NFTs, it is complicated to check ownership of each NFT one by one. If the NFT you owned is genuine, it will be listed on the blockchain platform.
If NFTs you own are legitimate, their digital certificate will be available on the blockchain platform.
You can quickly check the list of NFTs you own. To check the list, follow the below steps:
Step 1: Head To The Etherscan Platform From Your Web Browser
Go to Etherscan platform from your laptop.
Step 2: Choose The Contract Menu And Navigate To “Owned Numbers”
Click on ‘contract’ and then click on ‘read contract.’ Then, click on the first option, ‘Owned numbers.’
Step 3: Copy And Paste Your Wallet Address
You will see an address paste option to enter the wallet address. In that address, option paste your wallet address.
Step 4: Hit The “Query” Option
Press on ‘query’ written just below the wallet address option.
The list of numbers you own will be displayed on your screen.
Step 5: Check Transaction History And NFT Metadata
To check the NFT ownership, you need to monitor the metadata on the Blockchain platform. You will be able to find out who is the creator and who is the owner of the NFT through metadata in transaction history.
Verify NFT Ownership Through Metadata
A smart contract helps gather the information shown in the NFT transaction. Follow all these steps written below to verify NFT ownership through metadata and transaction history. You should have a wallet address or NFTs address.
Step 1: Head To The Ethereum Blockchain Explorer
Visit Blockchain platform Ethereum (ETH) Blockchain Explorer (etherscan.io).
Step 2: Type Your Wallet Address
In the search section, type the ‘wallet address.’ After entering the address, all the NFTs collections with wallet balances will appear on the screen.
Step 3: Choose The NFT For Which You Would Like To See The Transaction History
Click on the Non-Fungible token of which you want to see transaction history. Then, click on the ‘transaction hash’ you want to check. To view complete transaction details, press on ‘Txn hash’ and view it.
Also Read: How to Promote NFT for Free?
How To Verify The Selling Price Of NFT?
Buying an NFT from someone doesn’t end after verification of the ownership and status of the NFT. You also need to check whether you are getting the NFT with a good deal or not.
Whether he is selling you the NFT at an acceptable price or not. Go to any popular NFT marketplace like OpenSea and check the current floor price and trait price of the NFT you want to buy.
Browse NFTs on OpenSea on your laptop. You can check the current selling price of similar NFTs on the platform. It can help you get an idea of the value of your NFT.
If the NFT price is around what the owner is offering, then go for it. If the owner is not offering a good amount, don’t; buy it or talk with him about the price.
How To Verify NFT Authenticity?
To verify the NFT authenticity, you need to inspect the metadata of an NFT using a blockchain explorer, such as “Blockchain.com,” “Blockcypher,” and “Etherscan.”
To check the authenticity, ask for the wallet address of the person who is sending you assets. You can also check the assets on the Blockchain. Follow the below steps to verify NFT ownership:
Step 1: Head To The Ethereum Blockchain Explorer On Your Web Browser
Click on Ethereum (ETH) Blockchain Explorer (etherscan.io) from your computer.
Step 2: Type The NFT Hash
After opening the page. in the search section, type the ‘NFT hash.’ After entering the hash, all the NFTs metadata will appear on the screen. With the help of all NFT data available on Etherscan, you can check its authenticity.
Step 3: Hit The “read Contract” Option
Click on ‘read contract’ to know the details and check to verify the authenticity. All the information related to NFT, such as owner address, date and transactions, will be available on the platform.
Also Read: How to Make NFTs and Sell Them on OpenSea?
How To Verify NFT With Digital Certificates?
A digital certificate is the same as a paper certificate, and it saves us from fake and fraudulent activities. Digital certificates are like proof, and they can be tracked. Digital certificates are one of the best ways to verify the authenticity of NFTs.
Sometimes you receive a certificate of authenticity after buying NFTs.
In digital certificates, all information is mentioned, such as the creator’s name, date, status, contract address and Token ID. Through this information, we can verify NFT on the blockchain platform.
With the help of token ID, you can verify the NFT owner’s address on the Blockchain platform. Through this, you can only check the NFT owner’s address. There can be any status of an NFT, either it is’ centralised’ or ‘frozen .’
If the status of NFT is centralised, it means it belongs to an owner, and he can sell it. But, when the status is ‘frozen,’ it means the NFT cannot be sold, and it is not available now due to some fraud activity.
Suppose NFT is registered in the Etherscan Blockchain platform. By following a few steps, you can verify NFT with the details on digital certificates.
Step 1: Launch The Ethereum Blockchain Explorer On Your Web Browser
On your computer or laptop, open the Etherscan website Ethereum (ETH) Blockchain Explorer (etherscan.io).
Step 2: Enter The Token ID
In the search bar, enter the Token ID mentioned in the digital certificate. All the information on the N-n-Fungible Tokens will be displayed on the screen.
You can check the transactions and wallet address that is holding the Non-Fungible Token. You can check everything like contract details, transactions and holders.
NFT Verification Service
You can use the NFT verification service to check the NFT ownership. To verify the real owner, you can verify them at a marketplace database. But, you can only check if you have Ethereum token ID and agreement address.
The verifications services tools will verify the owner for you through search. NFT verification services will work with authentic NFTs. Using verification services tools is the easiest way to verify the ownership of NFT.
There are a lot of different tools available in the market. However, there are chances that you may not get the desired results as some marketplaces also allow verification from third-party as well.
Conclusion
NFTs buying and selling are becoming very popular in the world. You should be careful before buying NFT from anyone. There are many fraudulent activities taking place in the NFT market.
However, you can use different methods to verify and track the ownership of NFT. But, you need to be careful, and you can use the above methods to verify the NFT ownership.
