DeepNFTValue Raised $4 Million Led by Rockaway Blockchain Fund
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DeepNFTValue Offers Estimates For CryptoPunk NFT
Currently, DeepNFTValue only provides estimates for CryptoPunk NFT pricing based on transaction history and attributions. The business intends to cover other notable NFT collections, including Bored Apes, CloneX, Azuki, and ArtBlocks, announced on Friday. In addition to other unnamed investors behind DeepNFTValue, Rockaway Blockchain Fund led the seed investment round in which 1Confirmation and Cygni Capital also participated.
Nikolai Yakovenko, a machine learning specialist who has previously worked for Google, Twitter, Nvidia, and Point72 Asset Management, established DeepNFTValue earlier this year. In a recent blog post, Yakovenko claimed that machine learning is one of the most excellent methods for accurately pricing NFTs as compared to human evaluation because, among other things, people are prejudiced.
DeepNFTValue Provides Fair Value Estimate
For NFTs, DeepNFTValue essentially offers a "fair value estimate" that buyers can use to contrast with the sale price. Additionally, DeepNFTValue intends to spend a portion of the seed round to purchase GPU hardware, which it claims is essential for using deep learning to train the most complex machine learning models.