CoinShares launches Twitter bot to estimate the value of NFTs

The company has also developed a method for determining the “hype” around collections

16.10.2022 - 07:00

336

2 min

What’s new? Analytics company CoinShares has launched an experimental Twitter bot, CoinSharesNFTAI, which can calculate a “fair price” for each individual non-fungible token (NFT). The bot currently supports data for only 50 NFT collections, including Doodles, CloneX, Bored Ape Yacht Club, and Moonbirds. CoinShares noted that the company wanted to create an honest tool to help investors and traders.

[1/4] We are very excited and proud to announce the official launch of @CoinSharesNFTAI. A simple tweet can let you know how much an NFT might be worth.— CoinShares 👩‍🚀 (@CoinSharesCo) October 13, 2022

What else is known about the development? CoinShares also reported that it had created a special method for assessing the “hype” around NFT collections. Representatives of the analytics company told Decrypt.

“To evaluate the hype of a specific collection, we can count its followers on social media platforms, as well as the volume and value of past transactions,” the developers explained.

Test queries show that the bot takes about three minutes to process the data. CoinShares representatives also noted that the company has no plans to explore the NFT market, other than integrating this technology.

On October 14, the sale of actor Anthony Hopkins’ first NFT collection, The Eternal Collection, took place on the OpenSea marketplace. The tokens were sold out in less than seven minutes, with the platform experiencing technical issues due to high demand. The collection itself includes more than 1000 tokens with references to Hopkins’ roles, including Silence of the Lambs.

Author: