Kevin Shears launched a Twitter bot. Coin Shares NFT Bot It estimates the fair value of NFT works and prevents possible frauds.
Asset management company CoinShares (CoinShares) is a Twitter bot for Assessing the value of NFTs has launched This bot analyzes the popularity and rarity of NFTs to determine their fair value.
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Coin Shares NFT bot launch
Coinshares announced on Thursday the launch of a Twitter bot @coinsharesNFTAI. The goal of Kevin Shears to launch this robot is to determine the true value of NFT works. This robot also prevents the occurrence of frauds and possible abuses of the non-homologous token market.
Twitter users can use the new bot by using the OpenSea link and the CoinShares hashtag. Robot Kevin Shears It will determine the user’s desired NFT fair price in less than a minute.
According to Kevin Shears, Pricing of NFTs It is difficult; Because some of the factors influencing pricing are not easily measurable. Factors such as social success, rarity, access options, content and related products along with the volume and history of transactions are the most important factors in determining the price of NFTs.
NFT works price prediction
Coin Shares NFT Bot It increases the transparency of the non-monogamous token space. Jean-Marie Mognetti, CEO of Kevin Shears, said in a statement:
NFTs are the newest assets in the crypto markets. The conditions of NFTs should be such that all people feel comfortable while buying and selling them. For this purpose, we have made the exclusive pricing algorithm available to the public in NFT Coinshares robot.
In a test conducted by the site The Block, the Kevin Shears bot estimated the fair value of Bored Ape Yacht Club at 95 Ethereum (equivalent to $119,318). This forecast was significantly higher than the original BAYC portfolio price. The price of BAYC collection works is currently 75 Ethereum. The sharp difference between the sale price and the fair value of NFT works is largely due to the downturn in the financial markets in recent months. With the decrease in the price of digital currencies, The price of NFT works has also decreased.
The sales volume of NFT art and collectibles last week was a little over 20 million dollars. The trading volume of the foreign token market also reached 393 million dollars in the week ending on April 17.
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