One of the most popular cryptocurrency wallets, Metamask, launched an NFT portfolio tracking feature in partnership with NFTBank. The new utility will allow users to easily track their NFT portfolio’s value. Additionally, the wallet provider announced on November 2 that they’ll offer pricing information for over 5000 NFT collections.
What does the Metamask portfolio feature mean for users?
After hearing about the recent collaboration, one might ask what this means for the 30 million Metamask users. Firstly, due to the current market conditions, NFT pricing has never been more important to understand. Users will be able to make better decisions thanks to the new Metamask feature. But how, you may ask? NFTBank uses machine learning technology, which gives users price estimates for individual NFTs in a collection. According to the BD manager at NFTBank, the algorithm uses the floor price, rarity, and bid/ask distribution to provide the price estimates. In addition, these estimates have an accuracy of above 90%.
“NFTBank has proven itself as the ideal partner to enable this feature because of its sophisticated machine-learning models and strong infrastructure capabilities that can support MetaMask’s scale in order to provide a consistent experience for millions of MetaMask users,” said NFTBank product manager Kai Huang.
Who is NFTBank?
NFTBank is a portfolio management tool and valuation engine for NFTs, founded by Daniel Minsu Kim in 2015. They’re already the NFT valuation solution for other major projects like Chainlink, NFTfi, Pine, Stater, and Unlockd Finance. The company is also backed by Hashed, DCG, 1k(x), and other investors.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
