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Polygon, Wakwelli web3 infrastructure protocol to fight NFT scams

Polygon, Wakwelli web3 infrastructure protocol to fight NFT scams

Wakweli, a web3 infrastructure protocol that gives certificates of authenticity for non-fungible tokens (NFT), has teamed with Polygon, a blockchain platform that enables blockchain networks to connect and scale, to make NFT authentication feasible.

Details of the partnership

Based on their relationship, all digital content on Polygon will be compatible with Wakweli’s certification system. In the announcement has been said that every NFT project holder on the Polygon chain will be able to request authenticity certificates for each of their assets. The collaboration’s primary objective is to enhance the security of the digital ecosystem.

Antoine Sarraute, co-founder of Wakweli, explained to Cointelegraph that staking WAKU, the utility token of Wakweli, is essential to seek a certificate due to the expense of user certificate authentication. The amount to wager on a request is proportional to the level of trust necessary in each circumstance.

The final details of the collaboration agreement were negotiated in March of this year, after discussions between the two companies began in August of 2022.

Wakweli’s testnet will be available and functional on Polygon’s Mumbai testnet beginning in April. Starting in Q2 2023, Polygon’s mainnet will undergo alpha testing, and broad mainnet compatibility is expected to be achieved by Q3 2023.

Lotte Group and Polygon Foundation fight fraud

According to Sarraute, the cooperation between the two companies has enabled a clear strategy to combat these fraud attempts by providing a method for detecting phony NFTs, hence improving confidence in the expanding ecosystem.

Via the Wakweli platform and API, developers will have access to advanced use-case scenarios, such as the automatic production of certification requests when minting or obtaining access to more detailed certification information.

For the past month, Lotte Group, a South Korean multinational conglomerate, and the sPolygon Foundation, which operates the Ethereum layer-2 scaling network Polygon, have collaborated to promote the company’s NFT projects.

Polygon, an Ethereum scaling solution that has partnered with well-known firms such as Starbucks and Adidas, has garnered a great deal of attention and witnessed an increase in network adoption among cryptocurrency users.

Content Source: coindesk

About MahKa

MahKa loves exploring the decentralized world. She writes about NFTs, the metaverse, Web3 and similar topics.

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