CoinShares Creates Twitter Bot To Help Investors Analyze Worth Of NFT

Twitter Bot To Analyze Worth Of NFT

CoinShares, a cryptocurrency asset investment and trading firm, has released CoinShares NFTAI, an experimental Twitter bot that can determine a "fair price" for a specific NFT. NFTs, unique blockchain tokens representing ownership, can have wildly variable prices. The Twitter bot for CoinShares compiles information and notifies users of the price at which a specific NFT might be purchased or traded.

Twitter Bot To Analyze Worth Of NFT

The company claims that pricing NFTs might be challenging because some aspects are easily quantifiable while others are more ethereal. But it did find things like buzz, originality, a small-scale community, content, product access, transaction volume, and history. The recent collapse may cause the discrepancy between the sale price and fair value in the NFT market; as cryptocurrency prices have declined, so too has the dollar value of NFT holdings, and the allure appears to have worn off for some investors. The purpose of this activity is to make the area more transparent. CEO Jean-Marie Mognetti said the following in a press release:

"NFTs are the newest asset to come to crypto markets, and it's vital that everyone feels comfortable buying and selling them. To this end, we made our proprietary NFT pricing algorithm available to the public through our CoinSharesNFTAI Twitter bot."

Only 50 NFT collections can presently have pricing information supported by the CoinShares NFT bot. The bot supports several lesser-known collections in addition to specific blue chips or more expensive NFTs, such as Doodles, CloneX, Bored Ape Yacht Club, and Moonbirds.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

coinshares NFT Twitter Bot

CoinShares Creates Twitter Bot To Help Investors Analyze Worth Of NFT

Usha Yadav

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.