- NotCommon provides a single-stop shop where artists and collectors can trade and exhibit work.
- It also targets users to protect them and fight the rise in cybercrime.
- In 2022 alone, hackers stole $175M in digital assets.
Coinjournal can only report on the Web3 security platform NotCommon After receiving $1.5 million in funding, the platform is now online. This platform is a one-stop solution for collectors and artists who want to trade or exhibit their work.
This platform is designed to fight blockchain fraud by protecting users against the widespread cybercrimes in the Web3 space.
Helping users to keep their collections safe
Scammers and hackers have made millions from the Web3 industry. They use loopholes to steal personal information, which puts into question the security of most Web3 platforms. Although many of the victims are new to smart contracts, some older NFT collectors also fall prey to phishing attacks.
Web3 lacks the same safety nets as centralized services, making it difficult to retrieve stolen digital assets.
NotCommon CEO Michael R. Pierce commented on the security concerns facing the Web3 industry.
“2022 was a tough year for the reputation of Web3 in general, but there is still palpable interest users and investors. However, there is a need to make the space safer, and that’s where we aim to be a driving force for security. For the benefits of Web3 to be realized, there is a huge educational component needed to onboard new Web3 users, if we are going to encourage further adoption.”
To address this problem and help NFT collectors and artists keep their collections safe, the NotCommon platform “prioritizes education and security, giving NFT collectors the tools they need to protect and manage their identity in Web3.”
Curated blacklist of web3 scammers
NotCommon’s goal is to end security concerns in the Web3 area and usher a new era digital creativity. We focus on security, safety, and identity protection. To that end, NotCommon has launched a “curated moderated blacklist of fraudsters, allowing users to crosscheck people and entities against a database of known bad actors.”
This moderated blacklist of fraudsters contains a database that includes the different types of scams which have been committed within Web3. Web3 is a rich resource for education on current scams as well as a live-updated compilation of social engineering techniques.
NotCommon customers will receive personalized security alerts based upon the collections in their crypto wallets. NotCommon’s Chrome extension also allows users to flag phishing accounts and keep a continuously updated log of scammers and fake accounts.
