With the popularity of NFTs comes the scams. We’ve decided to outline some of the red flags that you should look for to avoid getting scammed. The first thing is to do your research, don’t just buy an NFT because it looks cool or looks similar to popular one. One of the biggest scams are people making their NFTs similar to Bored Ape Yacht Clubs or CryptoPunks. Scammers are even making fake NFT marketplaces similar to Opensea. These fake NFT marketplaces will also host unverified buyers so if you are buying an expensive and popular NFT, make sure the seller has a blue check mark. Fake NFTs won’t have any properties listed, while real NFTs will. Lastly, make sure you check the contract address of your chosen NFT. This will show you where it was minted. A fake NFT store may show an incorrect minting address, while a legitimate one will show exactly where it was minted. So be sure to check the official site of the creators of the NFT you’re interested in, to see if the contract addresses match up.
