Digital asset management platform CoinShares has released a bot that helps calculate an NFT’s worth
The bot was launched on Twitter and is currently in an experimental stage
Some of those who have tried it question its accuracy which “seems to be a bit off”
Digital asset management platform CoinShares has released a Twitter-based bot that helps calculate the worth of an NFT. The platform said that those wishing to have a rough estimate of a certain NFT’s market value need only to shoot the bot a simple tweet and it will reply with an approximate valuation. However, some who have engaged its services have lamented the results which were lower than their expectations.
[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
Tweet and a Link
Baptized ‘CoinSharesNFTAI,’ CoinShares’ new toy relies on data from popular NFT marketplace OpenSea to come up with a fair price for a particular NFT. To check the fair value of an NFT using CoinSharesNFTAI, one has to send a tweet to the bot and include a link to a particular NFT on the NFT marketplace.
Explaining the motivation behind the bot, CoinShares said in a tweet thread that the market is flooded with NFTs whose prices are volatile, hence making it hard to determine a fair price.
Bad or Terrible?
Those who have used the bot so far have reported varying results. At times, the bot calculated a higher market value than currently indicated and vice versa. Most of those who questioned the results seem to have received a lower rating on their NFTs. One Twitter user for example argued that the experimental bot “sucks” after it returned a fair price of 0.88 ETH on an NFT that cost 2.69 ETH.
— systemic bliss (@systemic_bliss) October 13, 2022
Another Twitter user said that the bot estimation “seems to be a bit off” after it valued their target NFT at 0.28 ETH against a minimum price of 0.48 ETH.
The bot currently supports NFTs listed on OpenSea and CoinShares is yet to announce integration with SuperRare, Rarible, Nifty Gateway and other NFT marketplaces.