NFT Marketplace Approval Risk Explainer

WHAT IT DOES

The NFT Marketplace Approval Risk Explainer reads a pending setApprovalForAll() or approve() transaction and explains the risk of approving an NFT marketplace operator before you sign. You enter the NFT collection address, operator address, approval type, and status—the tool reads the collection name and symbol, checks if the operator is a verified contract or EOA via eth_getCode, checks your current approval status via isApprovedForAll(), and estimates the gas cost. It then uses AI to generate a plain‑language explanation of what the operator can do with your NFTs, whether it's a legitimate marketplace, a collection‑specific operator, or an unknown contract, and flags if the operator is unverified or an EOA.

HOW TO USE

1. Connect your EVM wallet (required to read your approval status).

2. Select the chain (Ethereum, Polygon, or Arbitrum).

3. Enter the NFT collection address and the operator address.

4. Select the approval type (setApprovalForAll or approve).

5. For approve, enter the token ID (optional for setApprovalForAll).

6. Select the approval status (Approve or Revoke).

7. Click "Explain risk" to fetch data and generate an explanation.

8. Review the risk level, AI explanation, and raw data.

9. The wallet's own signature prompt will still appear—this tool only informs you.

THE REAL MECHANISM — NFT contract reads with AI‑powered risk explanation

This tool reads from the NFT collection using standard ERC-721 and ERC-1155 interfaces: `name()` and `symbol()` for collection identification, and `isApprovedForAll(address, address)` to check your current approval status for the operator. It also reads `eth_getCode` on the operator address to determine if it's a contract and whether it's verified (heuristic based on code length). The tool builds a structured prompt for the AI bridge (BGAI.generate) with the collection name, operator address, operator type, approval type, action, current approval status, and estimated gas cost. The AI returns a plain‑language explanation of the risk, including what the operator can do with your NFTs and whether the approval is safe.

WHAT IT CANNOT SEE

- This tool cannot read the exact intent behind the approval—only the on‑chain parameters.

- It cannot determine if the operator contract is malicious with certainty.

- It cannot detect approvals that are submitted through a wallet interface without page interaction.

- It cannot read off‑chain agreements or promises related to the approval.

- It cannot decode custom function signatures that are not in the standard ABI set.

- It cannot prevent you from signing a transaction—it only provides information.

PLEASE NOTE

- This tool works on Ethereum (1), Polygon (137), and Arbitrum (42161).

- The AI explanation is generated from the data you provide and is for guidance only. Always review the actual transaction details in your wallet before signing.

- The wallet's own signature prompt is what actually protects you—the AI's read is not a substitute for reviewing what you sign.

- Approving an EOA (externally owned account) is extremely risky—legitimate marketplaces are always contracts.