\n<\/p>\n
Crypto asset investment and trading group CoinShares has launched an experimental Twitter bot, CoinSharesNFTAI, that can calculate a \u201cfair price\u201d for a given NFT.<\/span><\/p>\n NFTs<\/span><\/a>\u2014unique blockchain tokens<\/span><\/a> that signify ownership\u2014can have wildly fluctuating prices. CoinShares\u2019 Twitter bot aggregates data and tells users at what price a specific NFT could be bought or sold for.<\/span><\/p>\n \u201cA simple tweet can let you know how much an NFT might be worth,\u201d CoinShares tweeted Thursday.<\/span><\/p>\n [1\/4] We are very excited and proud to announce the official launch of @CoinSharesNFTAI<\/a>. A simple tweet can let you know how much an NFT might be worth.<\/p>\n \u2014 CoinShares 👩🚀 (@CoinSharesCo) October 13, 2022<\/a><\/p>\n<\/blockquote>\n<\/div>\n The firm told <\/span>Decrypt <\/span><\/i>via email that it created the NFT pricing bot because its research team wanted to provide a tool to help NFT investors and traders.<\/span><\/p>\n CoinShares has even developed a method for determining the \u201chype\u201d surrounding an NFT collection.<\/span><\/p>\n \u201cTo 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,\u201d CoinShares told <\/span>Decrypt<\/span><\/i> via email.<\/span><\/p>\n <\/p>\n While this might seem like a great idea with a clear use case, the bot isn\u2019t exactly timely with replies or universally applicable. Upon testing, the CoinShares bot took three minutes to reply\u2014and told me the NFT I wanted to find a fair price for was \u201cnot available.\u201d<\/span><\/p>\n The CoinShares NFT bot currently only supports pricing data for <\/span>50 NFT collections<\/span><\/a>. Some of the collections are so-called blue chips, or higher-priced NFTs like <\/span>Doodles<\/span><\/a>, CloneX, <\/span>Bored Ape Yacht Club<\/span><\/a>, and <\/span>Moonbirds<\/span><\/a>, but the bot also supports a number of lesser-known collections as well.\u00a0<\/span><\/p>\n CoinShares told <\/span>Decrypt<\/span><\/i> that it is focusing on adding the collections that see the most volume traded on OpenSea.<\/span><\/p>\n \u201cEach week we integrate the collections that have had the most volume on OpenSea. Our pricing model needs a lot of data to give a fair price,\u201d a CoinShares representative said<\/span> via email. But unless the bot expands its offerings, it will likely remain a niche tool for owners (or prospective owners) of the 50 collections it currently supports.<\/span><\/p>\n The new NFT bot also doesn\u2019t mean CoinShares is jumping headfirst into the NFT market.<\/span><\/p>\n \u201cWe do not have a strategic plan for NFT assets other than this experimental activation,\u201d CoinShares said.<\/span><\/p>\n\n