This guide is to help you understand what to look for, when trading on Opensea, how to make sure you are getting the correct purchase.
Emblem Vault is a custom ERC721 Non Fungible Token (NFT), that allows the creator to assign different types of media representations to the outside of the vault, with different blockchain addresses held within itself.What is EmblemVault ?EmblemVault (EV) is a custom Non Fungible Token (ERC-721) that is used to transfer multiple different cryptocurrencies…desktopcommando.medium.comHow to use EmblemVaultEmblemVault can be currently used on both Ethereum & Matic Mainnets.desktopcommando.medium.com
Spotting the Real from the Fakes
I’m sure you have heard or experienced it yourselves, apeing into something that turned out not to be the thing you wanted.
Real — (Complete)
Identifying Emblem Vault on Opensea
Firstly starting from the top, The correct title will show ‘Emblem Vault [Ethereum]’ however this doesn’t stop other real users trading under their own shopfronts.
The second will show a link back to the the main emblem.finance application.
Different blockchains and NFTs can be placed in the internal addresses, the above shows that it is from XCP Counterparty. In this case clicking on the ‘BTC/XCP/OMNI’ tab will show you the Public address — further clicking it will copy it to your clipboard.
Copy it and go to :- https://xchain.io copy the address into the top right and press enter.
Clicking the Asset ‘RAREPEPEPUMP’ will take you to the main Asset Information screen.
Clicking the Project ‘Rare Pepe’ will that you to the site that proves the authenticity on this project (RAREPEPE). http://rarepepedirectory.com Although the description didn’t say (helps to showcase all information) this is Series 9 Card 42.
Back to Opensea, further down in the description as you scroll down you will see ‘View this NFT on Emblem.finance’ this will take you to the application also, clicking the ‘BTC address’ will open the xchain.io link.
Clicking the tab on ‘Properties’ shows details based on the NFT, the ‘Rare Pepe’ shows this is authentic against rarepepedirectory, there are, also more different types. Clicking the tab ‘Levels’ shows the XCP asset inside the vault. If there was a ‘Boost’ tab this would be for any cryptocurrency inside the address.
Finding a Emblem Vault without any Levels/Boosts
This does not mean that the vault is empty, rather that it was setup by the creator incorrectly, if you go to the xchain.io address and find the NFT inside, or check the ‘unconfirmed’ tab, then go to the app and refresh the balance.
On the Opensea page click ‘Refresh Metadata’ wait a few minutes, then refresh the browser.
Then the correct ‘Properties’ and ‘Boost’s/Level’s’ should appear
Real — (Fractionalized)
There are different types of fractionalized NFTs out there, firstly there are fractions of XCP NFTs — spilt downward but reflecting a lower price.
Emblem Vault has setup the details to show that they are not complete as shown.
With other great NFT projects out there, one is https://fractional.art which fractions Ethereum NFTs into many ERC20 tokens, including Emblem Vault.
Real — (Fractionalized) Misleading
Looking at the price on this, it is obvious that they are trying to (not illegally) trick the buyer into paying for a high price. However Emblem Vault having seen this has added additional information against the fractional.art contract ID. Just because one person is misleading buyers, does not spoil it for further trades.
The ‘Levels’ box refer’s to the ‘Eth address’ contents.
You can also see the blockchain on the emblem.finance application.
So the numbers to the above price reflect the below figures.
Fakes
As you can see it is just a mint on Opensea, there is no links to the emblem.finance app, BTC links in the description, or Boosts/Levels
Checking the users account you can see other such fakes
Also Emblem Vault’s are ERC721’s — as you can see from the Etherscan ERC1155 do not appear, which these one’s clearly are.