LONDON, UK: BrandShield Systems plc (AIM: BRSD), a leading provider of cybersecurity solutions for brand oriented digital risk protection, unveiled NFT Shield, a bespoke AI solution aimed at the $3 billion NFT economy.

NFT Shield is the industry’s first cybersecurity product to bring real-time intelligence and enforcement capabilities to combat digital asset fraud across major NFT marketplaces.

Using AI/ML capabilities to detect a wide array of threats like fake listings, trademark infringements, scams, impersonations and more, the Company is offering the service as a free service to new and existing customers for a limited time.

In 2022 alone, Web3 projects have reported losses of over $2 billion to hacks and cyberattacks. With the market’s growth, analysts predict that the crypto and NFT space will be valued at $13.6 billion in the next five years, and the proliferation of digital asset fraud poses a high risk to brands, marketplaces, and customers.

NFT Shield, when combined with BrandShield’s website and social media monitoring solution, delivers a comprehensive approach that protects against all external threats. The product is designed for brands selling NFTs and others that need to protect their brand and trademarks across NFT marketplaces, so they can defend themselves against scammers and impersonators looking to deceive consumers into purchasing counterfeit products.

Features and benefits of the platform include:

• AI-based threat mapping – BrandShield uses AI to automatically prioritise threats and provide efficient and quick takedowns as they appear.
• Comprehensive threat detection – NFT Shield works across all NFT trading channels to stop attacks at every stage they may occur.
• Real-time trademark and fake listings enforcement – BrandShield proactively searches for and detects infringements, including logos and visual trademarks, to remove them as they surface in real-time.

BrandShield offers comprehensive identification and removal of threats across domains, marketplaces – like Amazon and Alibaba – and social media. The Company already supports dozens of companies in the cryptocurrency industry and operates as the leading digital risk protection solution for brands like Bang & Olufsen, Levi’s, and The Sandbox, a leading decentralised gaming virtual world and a subsidiary of Animoca Brands.

In conjunction with introducing its new product, BrandShield is also proud to announce it has joined the Blockchain Game Alliance (“BGA”). The BGA is committed to spreading awareness about blockchain technology and promoting blockchain within the game industry. Joining other leaders in the Web3 space such as The Sandbox, OpenSea, and MetaMask, BrandShield aims to further these missions whilst also establishing common standards and best practices in the gaming community.

Yoav Keren, CEO of BrandShield Systems plc, said: “Our breadth of experience across traditional finance industries and decentralised platforms has allowed us to design a comprehensive and effective solution against the sophisticated attacks we’re seeing targeting the NFT industry. We’re excited to offer this robust service as we continue our work alongside our partners to protect the integrity of the ecosystem and ensure that NFT holders’ digital assets and wallets are protected from fraudsters.”