To combat rising NFT fraud, the Sandbox has partnered with security firm BrandShield
The Sandbox, a Metaverse gaming startup, has partnered with BrandShield (BRSD), an online threat detection organization, to safeguard the security of crypto wallets and non-fungible tokens (NFTs) on its marketplace.
Users can monetize their behavior on blockchain-based virtual territories using the Sandbox. However, various exploits and frauds have been perpetrated against NFT projects and communities in recent months, necessitating additional vigilance.
“In the open metaverse, users should be able to enjoy their true digital ownership rights and have new ways to create, store, and trade value while having fun rather than having to worry about online threats,” explained Sebastien Borget, COO of The Sandbox, in an email.
“With its ability to monitor and protect against these attacks, BrandShield is a strategic partner to help identify faster and take down phishing attacks and various online threats from brand impersonators and bad actors,” Borget added.
BrandShield analyzes and categorizes numerous dangers in order to prevent crypto wallet attacks. It also assesses threat levels from various digital entities and platforms, such as websites and NFT marketplaces, in order to identify risks that might otherwise go undetected by standard cybersecurity technology.
BrandShield destroyed 120 phishing sites and 58 false social media profiles spoofing the metaverse platform over a two-month period, from March to April 2022, allowing The Sandbox’s economy to run securely, according to the business.
Borget also informed that The Sandbox would begin teaching its users on fraud prevention strategies.
“Our primary focus is on educating our community and guiding them through our community managers and customer support,” he said. “Since the wallet is where their identification and ownership are stored, not on our servers, we must provide best practices and guidelines for our players and creators so they can remain vigilant against all external threats.”