this post was submitted on 21 Jan 2022
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cryptocurrency
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What is a verified collection and who verifies it?
I suppose services like Twitter verifies NFTs addresses to help NFTs to prove possession :)
They're basically underwriting agencies that verify you actually own the content before allowing you to mint the NFT.
Anyone can be an underwriting agency, so twitter would need to start vetting which agencies are legit, and banning ones that get DMCA'd. It's an annoying service to be providing, but what else are they doing for the $3 a month?
Without a trusted cabal of underwriters, anyone can make an token for things they don't own and it seemingly invalidates all the potential usefulness of NFTs =/
Another question. Let's say I drew some art. Now I want to turn that into an NFT so I can get a hexagonal profile picture on Twitter. How will I do that?