GalaxiaNext Partners with PlanXLab to 'Prevent Unauthorized NFT Usage at the Source'

[Asia Economy Reporter Hyungsoo Park] NFT company Galaxia Next is taking measures to prevent unauthorized use of NFTs issued by the company.

Galaxia Next announced that it has signed a Memorandum of Understanding (MOU) with PlanX Lab, a developer of authentication solutions. NFTs issued on Meta Galaxia can verify authenticity using the technology based on the 'Invisible Code' provided by PlanX Lab.

As the digital asset market rapidly grows, cases of illegal use such as 'Fake Minting' are also increasing. This is the reason for adopting the Invisible Code. Fake collections are being sold on large overseas exchanges operating as open markets, causing buyers to suffer damages. Last year in Korea, controversy arose over copyright infringement when works by modern artists were issued as NFTs.

To fundamentally block unauthorized use and copyright infringement controversies, Galaxia Next decided to embed the Invisible Code into NFTs issued on Meta Galaxia. In cooperation with partners, the Invisible Code will also be embedded in membership and admission ticket NFTs. NFTs with the Invisible Code can be verified for authenticity through a scanning program (app) supported by PlanX Lab's solution.

Shin Donghoon, CEO of Galaxia Next, said, "All NFTs issued on Meta Galaxia as a curation-based market are genuine," adding, "By applying the technology owned by PlanX Lab to NFTs, we will further enhance their rarity value through legality and authenticity."

This content was produced with the assistance of AI translation services.