The OECD and EUIPO estimate that global trade in counterfeit goods reached USD 467 billion in 2021, equal to up to 2.3% of world trade. That is a large figure, but the more useful point for brands is simpler: fake goods make ordinary buying decisions harder.

For US readers, the problem feels close to home. US Customs and Border Protection said it seized more than 32 million counterfeit items worth over USD 5 billion in FY2024. When that much fake inventory is still moving through the system, shoppers do what people always do when trust runs thin; they hesitate, compare and wonder whether the product in front of them is the real thing.

Most headlines follow the BNB price and token markets, but the relevant question for…