Web3 security platform NotCommon goes live backed by $1.5M funding

  • NotCommon is a one-stop shop for both artists and collectors to trade and exhibit work.
  • The platform also aims at protecting users and combat the uptick in cybercrime.
  • In 2022 alone, hackers stole $175M in digital assets.

Coinjournal can exclusively report that Web3 security platform NotCommon has gone live after a $1.5 million funding. The platform offers a one-stop shop for both collectors and artists to trade and exhibit work.

The platform aims at taking the fight against blockchain fraud by protecting users from the rampant cybercrimes within the Web3 space.

Helping users keep their collections safe

Hackers and scammers have minted millions of dollars from the Web3 industry. They find loopholes and steal personal collections putting in question the security status of a majority of Web3 platforms. While a good number of the victims are newcomers new to smart contracts, seasoned NFT collectors have also fallen victim to phishing attacks.

Web3 suffers from a lack of the same safety nets witnessed by centralized services making it difficult for victims of theft to recover their stolen digital assets.

Commenting on the rampant security issues facing the Web3 industry, NotCommon Co-Founder and CEO Michael R. Pierce said:

“2022 was a tough year for the reputation of Web3 in general, but there is still palpable interest users and investors. However, there is a need to make the space safer, and that’s where we aim to be a driving force for security. For the benefits of Web3 to be realized, there is a huge educational component needed to onboard new Web3 users, if we are going to encourage further adoption.”

To address this problem and help NFT collectors and artists keep their collections safe, the NotCommon platform “prioritizes education and security, giving NFT collectors the tools they need to protect and manage their identity in Web3.”

Curated blacklist of web3 fraudsters

NotCommon aims to eliminate security issues within the Web3 space and usher in a new era of digital creativity by concentrating on security, safety and identity protection. To that end, NotCommon has launched a “curated moderated blacklist of fraudsters, allowing users to crosscheck people and entities against a database of known bad actors.”

The curated moderated blacklist of fraudsters includes a database of the various types of scams that have occurred within Web3 further adding to its deep resource for education about current scams and a live-updated compendium of known social engineering tricks.

NotCommon users will receive customized security alerts based on the collections they are holding in their crypto wallets. NotCommon’s Chrome extension also allows users to flag phishing accounts and keep a continuously updated log of scammers and fake accounts.

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