[NEWS] SBINFT partners with JPNFT to promote distribution of authentic NFTs

SBINFT, which operates the NFT marketplace, announced a business partnership with JPNFT, which operates "jpnft," on the 12th. Through this business partnership, the two companies will work to build a marketplace that provides users with safe and secure NFTs, aiming to promote the distribution of genuine NFTs.

NFTs have been gaining attention at an accelerating rate since the beginning of 2021, and are now being used by a variety of major companies.

While they are becoming more widespread, they are also facing major challenges, such as a sharp increase in the distribution of pirated versions that are unofficial but pose as official, and unauthorized NFTs. Since it is relatively easy to issue NFTs, the practice of copying digital data and pretending that it is something that has been authorized by the IP holder is rampant.

In light of this situation, SBINFT points out that measures to ensure safety and authenticity are urgently needed in Japan's NFT industry, which is expected to become an even larger market in the future. In order to solve these issues, SBINFT and JPNFT have decided to build a "safe and secure NFT market" and enter into a business partnership by leveraging the strengths of both companies.

In this initiative, when trading content registered and published on the official information disclosure platform for NFTs of content IPs operated by JPNFT, "jpnft," on "SBINFT Market," users will be able to confirm that the NFT is genuine by checking the official license information on jpnft and displaying the certification mark.

▶Image of building an NFT marketplace in collaboration with "jpnft"

jpnft is a platform that aims to contribute to the construction of a safe and secure NFT market by discriminating between genuine NFTs issued by the rights holder or with the valid permission of the rights holder and unauthorized NFTs that infringe copyrights and other rights by disclosing official information about NFTs of Japanese content IPs.

The project was selected as a support target project for the Ministry of Economy, Trade and Industry's FY2021 supplementary budget "Subsidy for Promoting Content Overseas Expansion and Strengthening Infrastructure (J-LOD)," and development was carried out with the support of the Ministry.

Meanwhile, SBINFT is an NFT marketplace that uses public chains such as Ethereum and Polygon, which are in high demand both domestically and overseas. As an approval-based NFT marketplace that imposes strict screening, it has offered a variety of NFTs to date.

At the time of the announcement, SBINFT CEO Noriaki Takanori mentioned the current situation, in which pirated NFTs that use domestic IP without permission are rampant, resulting in a problem of IP holders not receiving fair profits.

JPNFT, which is trying to build a sound platform to solve this problem, and SBINFT's philosophy, which has emphasized both safety and development, are in line, he said, "By promoting the distribution of genuine NFTs, we would like to contribute to the development of the entire industry."

The release of jpnft content on SBINFT Market is scheduled for around summer 2023.

Reference:Press release
Image: Quoted from SBINFT press release