Optional Paid Upgrade Provides KYC & AML Permissioning for High-Value Auctions
Civic Technologies, a leading innovator in digital identity solutions, announced Ignite Pass, a free tool for creators and NFT marketplaces that filters out bot participation in NFT drops and mints. Ignite Pass, a free version of the company’s groundbreaking Civic Pass product, will require buyers to verify their liveness to prove that they are human. Integration is easy, and no storage of private information on the part of the creator or marketplace is required for the free version.
“Artists are having their moment right now with the introduction of NFTs,” said Chris Hart, CEO, Civic Technologies. “Bots are more than a nuisance — they’re destroying the trust that communities have built as well as the future prospects of its creators. We’re proud to provide tools that will help them achieve greater success at their auctions and help keep their communities bot-free.”
Artists and marketplaces can get started using Ignite Pass on Solana today with Civic’s integration guides. With Ignite Pass, NFT drops and mints can maintain an equitable and transparent community network. Buyers are guided to use Ignite Pass from within the NFT mint drop or marketplace and only after completing the liveness verification, are allowed to complete their purchase.
Marketing Technology News: Anvil Launches Workflows to Automate Complex Webs of Paperwork
Bots are more than a nuisance — they’re destroying the trust that communities have built as well as the future prospects of its creators. We’re proud to provide tools that will help them achieve greater success at their auctions and help keep their communities bot-free.
Trust and transparency are necessary ingredients for a healthy NFT ecosystem. Creators also build trust across their communities by sharing their verified identity or pseudonymous verified identity. When a creator joins the Verified by Civic Pass program, Civic verifies their identity and announces a trust seal that creators can then share with their communities. Civic has verified the creator identities for the Metasaurs by Dr. DMT project and the Flux Art Project.
As an early innovator, Civic offers a unique on-chain solution for the DeFi and NFT industry that can enable compliance with future regulatory requirements. Civic Pass offers additional fully integrated and automated controls that enable real-time screening for KYC and AML requirements. Because identity is verified once and then dynamically checked, Civic Pass offers faster, more accurate verification. Civic leverages Identity.com’s unique identity verification ecosystem and protocols to power its technology.
The Ignite Pass is poised to help creators at a time when investment into NFTs is reaching unprecedented growth. According to DappRadar, in the third quarter of 2021, the NFT space generated over $10.67 billion in trading volume, representing an outstanding 704% increase from the previous quarter and a colossal 38,060% increase year-over-year.
Marketing Technology News: MarTech Interview with Eddie Porrello, Director of Product at Amber Engine