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NFT Watch DAO was launched in November of 2021 by various members in the XPR Network community. It is a self-organized initiative to detect scams and prevent other community members from buying fraudulent NFTs.

Initially, all reports and judgements about different collections have been handled in the official Telegram group only. Marketplaces had to keep track of the activities of NFT Watch DAO and manually add collections to their blacklist.

In November 2022, a scammer was able to trick some community members and hosted different fake auctions for the Proton DEX Keys which provide lifetime fee-less trading on the Proton DEX which is nowadays known as Metal X. The team behind Soon.Market immediately took action and announced to fight the scammers by introducing shielded NFT collections with the help of NFT Watch DAO.

Since February 2024, NFT Watch DAO processes are governed via Smart Contract and can be embraced by any NFT marketplace.

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