Popular crypto wallet MetaMas onboarding NFTBank will use the API of nearly 5000 user-owned NFT collections in its new NFT portfolio products to power the price information it needs.
As reported in a press release shared with Cryptoslate, NFT’s limited sales transaction data introduces complications when it comes to its pricing.
“The NFT phenomenon will clearly be established in 2021, but the infrastructure for NFT holders is still lagging behind. This is much more difficult if
To solve this problem, NFTBank has developed advanced machine learning-based statistical algorithms. This algorithm helps guarantee price quotes for all NFTs.
This technology is 90% accurate and typically uses information such as lowest price, rarity and bid distribution to calculate the single price value of NFTs in a given collection. NFTBank CEO Daniel Kim said:
“The need to understand the right price for NFTs is more than ever before as many learn the dramatic volatility of the NFT market the hard way, while at the same time learning the potential of NFTs as a new digital asset class. clarified.”
Additionally, MetaMask’s upcoming NFT Portfolio Experience will allow NFT holders to see the value of their portfolio at a glance, leveraging NFTBank’s ML-based price quotes. K.ai Huang, product manager of MetaMask Portfolio dApp, said:
“MetaMask continues to provide a rich NFT experience, and providing pricing information to users within the portfolio dapp is another step forward.”
NFTBank established itself as a cryptocurrency powerhouse prior to its recent collaboration with MetaMask. The company has provided his NFT evaluation solution to prominent projects such as Chainlink, NFTfi, Pine, Stater and Unlockd Finance.
Additionally, in its ongoing development, MetaMask has enjoyed several privileges that have helped wallet providers strengthen their position in digital assets.Modern Opera Crypto Browser Integrated The MetaMask wallet on browser allows users to seamlessly switch to the wallet without any cumbersome setup steps.