AI and the Future of NFT Marketplaces With OpenSea

The speaker discusses the challenges of using machine learning to aid in trust and safety features for NFTs on the Opensea platform, while also maintaining engagement with the community and addressing the urgency of the rapidly growing market.

• Opensea is focused on security features and protecting users from copycats in the NFT market
• Machine learning is used to detect copycats at scale, but precision must be narrow to avoid false positives
• Explainability is a key principle in engaging with the community and getting their input on trust and safety initiatives
• There is urgency to make action due to the livelihoods of new creators in the NFT market
• Opensea relies on a heavily human-in-the-loop system to deal with anomalies and expand from there
• NFTs are a container for anything and everything, creating new data problems for Opensea to tackle

Opensea uses machine learning to detect copycats in the NFT market, but must be careful to avoid false positives. They engage with the community to get their input on trust and safety initiatives, and rely on a heavily human-in-the-loop system to deal with anomalies. The NFT market is rapidly growing, creating urgency to take action and address the livelihoods of new creators. However, NFTs are a container for anything and everything, creating new data problems for Opensea to tackle.

The rise of NFTs have exploded over the past year. The NFT market is expected to grow by over $140 billion over the next four years. OpenSea is the world’s first and largest Web3 marketplace for NFTs and crypto collectibles. During this fireside chat, Shiva Rajaraman, Vice President of Product at OpenSea, joins Vijay Karunamurthy, Head of Engineering at Scale. They discuss building trust and safety on consumer platforms, using operational AI to scale new markets, and the future of NFT marketplaces. Watch this session to learn more from Rajaraman about how NFTs will continue to foster transformation. He will discuss leading product in a Web3 startup environment, solving data problems with virtual identities and virtual worlds, and how AI is empowering creators with new capabilities. Before joining OpenSea, Karunamurthy served as Vice President of Commerce for Meta, Chief Technology Officer at WeWork, worked on products at Apple and Spotify, and worked in product management at Google and Twitter.