Who would sell fakes any way ?
There are people who sell unauthorised copies of other NFTs. Then there are others who make NFTs of contents that do not belong to them. Hence, the NFT users who got exploited were left in extreme shock that has also affected many other investors as well. Considering the scam, we should always look for the validation of the collections, their creators, selling websites, and marketing channels carefully before investing in any of the NFT projects.
The best part about trading NFTs or any cryptocurrency on an exchange is that you can monitor the real-time stats of the owners and judge the authenticity of an NFT. If you notice a lower value for the auction or buy now price and you think that the NFT must have some greater price than that shown, there is a red flag for some scam. Be careful of NFTs that are given for free, as there is a possibility for NFTs that are minted for free on some of the platforms out there that are fake collections or spam.
Caveat Emptor
It would therefore be prudent to purchase NFTs off reputable marketplaces and platforms who have done their due diligence for verifying the authenticity of the creators and the contents. However, there is no sure proof way to be 100% correct in identifying fakes because it may happen that whoever creates or inserts an NFT on the blockchain does not have the digital property copyright in question. As an astute investor , always adhere to the principle of caveat emptor.
