NFTs News

CoinShares Created Twitter Bot To Help Investors Analyze Worth Of NFT

CoinShares, a cryptocurrency asset management, has built a Twitter bot to analyze the worth of NFTs.

On Thursday, the asset management announced the introduction of the @CoinsharesNFTAI Twitter bot. CoinShares hopes that the bot will help cut through the noise surrounding NFTs, which can frequently litter Twitter with hype, fraud, and scams.

Users on Twitter may now tweet the bot with a link to the NFT’s OpenSea link and the hashtag CoinShares. Within less than a minute, the bot responds with a fair price.

Pricing NFTs can be tricky, according to the firm, because certain features are clearly measurable while others are more abstract. Nonetheless, it discovered elements such as buzz, uniqueness, exclusive community, content, and product access, as well as transaction volume and history.

The disparity between the sale price and fair value might be explained by the recent collapse in the NFT market; as crypto prices have fallen, so has the dollar worth of NFT holdings, and the charm appears to have worn off for some investors.

The goal of this action is to increase transparency in the space. In a press statement, CEO Jean-Marie Mognetti stated:

“NFTs are the newest asset to come to crypto markets and it’s important 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.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.