NFTBank is an NFT portfolio management tool and valuation engine, allowing users to make informed decisions about their NFT portfolio and enable advanced DeFi use cases.
Metamask is launching a new NFT portfolio product that better informs its users of their NFT holdings and their value.
The leading Web3 wallet has selected NFTBank to power pricing information for more than 5000 NFT collections owned by Metamask users.
NFTBank will provide its price estimates as the price standard on Metamask’s NFT portfolio product that will allow NFT holders to see their portfolio’s value at a glance.
The NFT pricing specialist already caters to a number of big names within the ecoystem, including Chainlink, NFTfi, Pine, Stater, and Unlockd Finance.
NFTBank provides price estimates for over 5,000 NFT collections
NFT pricing is a complex issue because not only is every NFT unique, but sales transaction data is also extremely limited. Infrastructure for NFT holders is also still lagging when compared to ERC-20 tokens. NFTBank wants to change this by allowing users to see their portfolio value.
NFTBank leverages an advanced machine learning-based statistical algorithm to provide price estimates for individual NFTs with reportedly 90+% accuracy, combining several metrics – including floor price, rarity, and bid/ask distribution – to compute a single price value for any given NFT in a collection.
Covering pricing information for over 5,000 NFT collections, NFTBank’s solution is available on APIs and its own dedicated app. The firm is backed by Hashed, DCG and other partners and investors.
Appropriate price of NFTs is critical
Daniel Kim, the CEO of NFTBank, commented: “The need for understanding the appropriate price of NFTs has become ever more clear with many learning the dramatic volatility of NFT markets the hard way, and simultaneously learning the potential of NFTs as a new digital asset class. NFTBank’s NFT price data will be powering Metamask’s new NFT integration, helping users to make informed decisions on their portfolio.”
Kai Huang, Product Manager at MetaMask Portfolio dApp, added: “MetaMask continues to provide a rich NFT Experience, and enabling pricing information for our users within the portfolio dapp is another step forward; beginning today, our users can get real-time price updates and values about the NFTs they’ve acquired across all accounts to enable them to make informed decisions.
“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.”
