Nexo-backed MetaQuants, a provider of NFT solutions, has introduced their algorithm product in order to support real-time collateral assessment for NFTs, marketplace, and wallet analytics.
The alpha version of the new algorithm product is intended to enhance NFT lending, market, overpricing, and market manipulation penalties. As a result, the algorithm product is well-suited to Nexo's planned non-custodial infrastructure.
MetaQuants has recently launched a number of solutions aimed at increasing transparency, accuracy, and risk management in the volatile virtual world, aided by Nexo's financial and strategic investments.
Furthermore, MetaQuants has recently begun a funding round in order to raise funds to expand its staff and product offerings.
Notably, Nexo, a leading regulated institution for digital assets, believes in a real-time mark-to-market NFT algorithm that provides efficient valuation estimates for assets susceptible to market manipulation for its retail and corporate customers. Notably, MetaQuants' innovative technology enables the implementation of such a technique and may be used by Nexo.
Over time, the company has made efforts to expand its presence throughout Asia. In July, it inked a deal sheet for a potential acquisition with Vauld, a Singapore-based blockchain firm. Furthermore, due to the market conditions devastating the cryptosphere, Nexo expressed interest in acquiring assets Celsius in June.