NFT fraud detection platform Doppel raises $5M
NFT scams are a problem for both crypto community and projects, and Doppel is a platform that detects NFT frauds. As of May 24, the company had raised $5 million in a Seed round led by FTX Ventures. Other investors include Polygon Studios, Solana Ventures, OpenSea Ventures, Dapper Labs, SVAngel, South Park Commons, Script Capital, Spartan Group, Paxos, 6529 Capital, Quiet Capital, and AlphaLab Capital. Angel investors and operators also took part in the round.
Doppel’s mission is to build trust in digital goods by detecting counterfeits, scams, and fraud in real-time. Doppel uses Artificial Intelligence (AI) to detect trending scams and remove counterfeits from NFT marketplaces based on Ethereum, Solana, Polygon, and Flow. The company advises users to protect their IPs and communities before any damage occurs.
“As big basketball fans, Rahul and I were fascinated by the prospect of owning a highlight when NBA Top Shot premiered. People have an innate desire for ownership, and NFTs enable that in a digitally native world. However, in practice, the concept of digital goods has been brittle, and the current levels of fraud, scams, and counterfeits put the entire ecosystem at existential risk,” said Doppel co-founders Kevin and Rahul.
The company has already collaborated with Yuga Labs, Magic Eden, and Dapper Labs.
Brands, marketplaces, and creators can now book a demo on Doppel’s website, Doppel.xyz.
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