The debut of a Twitter bot named “CoinSharesNFTAI” was revealed by CoinShares on Thursday. Based on the Twitter bot's function, “CoinSharesNFTAI” would assist NFT buyers in determining a “fair price” for any NFT registered on Opensea.
With just one tweet, the Twitter bot would help NFT investors on Twitter sort through market uncertainty and determine how much an NFT would be worth. Users would need to tweet an Opensea link to the NFT they wanted to check, along with the hashtag #CoinSharesNFTAI, to activate the bot.
In the statement, CoinShares warned that pricing NFTs would be challenging because of their unstable value and abundance on the market.
“Building on our crypto and quantitative expertise, we came up with an experimental project to price NFTs, whether you own them already or not. This model relies on tested mathematical concepts to predict a fair price for any NFT currently listed on @opensea,” CoinShares stated this in the press release.
The assumptions made by the bot are dependent on known variables such as hype, rarity, utility, substance, and items, as well as the amount of transactions and NFT program history.
NFTs are among the recently discovered digital content in the cryptocurrency business today, and it's crucial that everybody feel at ease purchasing and trading them, according to CEO Jean-Marie Mognetti. He stated, “To this end, we made our proprietary NFT pricing algorithm available to the public through our CoinSharesNFTAI Twitter bot.”
A trailblazer in cutting-edge services and products for the cryptocurrency industry, CoinShares is a collection of investors and traders in digital assets established in Europe.
CoinShares recently reported on its plans to introduce HAL, a retail trader-friendly automated stock exchange. For $20 per month, the service will give retail traders a wide range of algorithmic trading tactics.
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