The proliferation of NFT collections is confusing the markets when it comes to pricing. Wondering how much your non-fungible token is really worth? Well here is a simple and effective way to do it. Discover the CoinShares Twitter bot and understand the markets differently.
Live the NFTs with the CoinShares Twitter bot!
CoinShares recently launched a Twitter bot that helps determine fair prices for NFTs. Indeed, CoinSharesNFTAI has the ability to calculate the fair price of a given token. NFTs are gaining more and more markets and investors are flocking to them. With the different prices for different collections and different tokens, this Twitter bot makes your life easier.
According to a tweet from the crypto asset trading and investment group published on Thursday, a single tweet lets you know how much a non-fungible token can cost. How is it possible ? Well, by aggregating the data and showing users at what price a specific token could be bought or sold.
According to the statements of the company, the idea behind this project is to provide a tool to help NFT traders and investors. And to go even further, CoinShares has developed a trick to track the hype around a collection. For this method to work, the company assesses the volume and value of past transactions. But also, his number of subscribers on social networks.
However, despite all the explanations and all the advantages it offers, the Twitter bot can have some flaws. Indeed, the response time is quite long and some information is not always available. So far, the bot only supports data from 50 collections. Among the latter, blue chips, some less popular NFTs and more expensive NFTs such as BAYC, doodles and CloneX.
Although the number of collections is limited, CoinShares states that each week it integrates the NFTs that have the most volume on Opensea. However, the company clarifies that this new bot does not mean that it is entering the NFT market.
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