Why should we use Maxity instead of OpenSea?
​1/ Because Maxity is specifically for charities, and we will assist charities throughout the process.
2/ All the charities and organizations will need to go through Know Your Customer (KYC) regulatory procedures to protect users from fraud, corruption, and money laundering. Each NFT creator has to submit required documentation during the account validation process.
3/ There are no requirements on the OpenSea platform that need to be fulfilled in order to mint an NFT token. There have been reports of NFTs being issued on the platform for money laundering, wash trading, tax avoidance, and other illegal activities by criminals.
4/ At Maxity we focus on charities and organizations that are raising funds for a good cause. We target a specific audience and new NFT use-cases for fundraising. Buyers can find NFTs representing causes they want to support using our category function.
5/ There are no restrictions on Opensea for who can issue the token. It could be an artist, an organization, a limited company, an individual, or even someone pretending to be who they say they are. Over 80 percent of NFTs minted for free on OpenSea are fake, plagiarized, or spam. The majority of original art is lost in the sea of fake and plagiarised tokens. Only corporations or artists who are in direct talks with OpenSea are displayed on the platform landing page for promotional purposes. This makes the platform unattractive for an average organization or creator where their art is lost or hard to find. Organizations have to promote their material on their platforms to direct users back to specific OpenSea collections.
6/ Maxity uses the latest solidity smart contract compiler (0.8.0) and advanced up-to-date smart contract development techniques, including trusted and tested openzeppelin libraries, to ensure security and smart contract logic.
7/ OpenSea's smart contract has not been updated since it was deployed on the network in June 2018. It uses an older version of the solidity compiler (0.4.13). In the last few years, there have been many security updates with each compiler version.
8/ Maxity uses a ‘whitelisting’ mechanism to prevent traders from interacting with the smart contract without a Maxity.io account. The platform has also implemented a rigorous verification process for entities wanting to issue tokens on the platform, to prevent unauthorized usage, bot trading, and other automated activities.
9/ OpenSea cannot prevent bots from using their public smart contract. Anyone can interact with an OpenSea smart contract. You don’t need to register on the OpenSea website and have an account to execute the smart contract functions.
10/ To prevent plagiarism activities, Maxity doesn't allow "lazy minting" on the platform. An initial agreement and a final legally binding agreement is signed with every organisation that joins the Maxity marketplace and posts their NFTs. Every token is inspected by the fundraiser, making sure they have full rights to the intellectual property, in line with the agreement provided by the Maxity platform.
11/ Plagiarism and fraud have been an issue since NFTs exploded in early 2021. Individuals and automated scripts crawl through online art galleries, or even keyword searches on Google Images, and create collections with auto-generated texts on OpenSea, on a daily basis. OpenSea allows the creation of NFTs using “lazy minting”, where users list NFTs for sale without writing them to the blockchain. Sellers don’t pay fees until an NFT sells, allowing scammers to list as many stolen items as they want.
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