The MetaMask team has chosen NFTBank as a price-information provider for non-fungible tokens from more than 5,000 collections accessible to users Web3-wallets. ForkLog said representatives of the project.
According to them, NFT pricing is a difficult problem: each asset is unique, and transaction data are highly restricted.
The NFTBank tool employs a static algorithm based on machine learning. It uses data such as minimum price, rarity, and the asks-to-bids ratio to determine quotes with claimed accuracy above 90%.
“The need to understand the appropriate NFT price became evident when many recognised the volatility of assets and, at the same time, appreciated their potential. Data from NFTBank will unlock new opportunities for NFT integration with MetaMask, helping users make informed portfolio decisions,” said NFTBank CEO Daniel Kim.
The MetaMask product manager Kai Huang noted that users will receive data in real time.
The NFTBank tool is used by partners such as Chainlink, NFTfi, Pine, Stater and Unlockd Finance.
Investors include Hashed, DCG, and other well-known firms in the industry.
In September, Opera added MetaMask support in its crypto browser.
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