European marketplace that manages crypto assets, CoinShares introduced a pilot project on Thursday - an artificial intelligence (AI) bot that helps traders to determine the objective price of certain NFTs.
This project is called CoinSharesNFTAI. The project brings together a variety of datasets that provide the client with what CoinSharesNFTAI considers a fair price for a list of the best nft collections on OpenSea. This is the most popular NFT trading platform. In order to use the bot, you will need a link to a specific non-fungible asset that you are interested in. It can be obtained from OpenSea, and after that, you must make a post on twitter, mentioning the name of the bot. At the same time, CoinSharesNFTAI will give an answer with an approximate value of the "fair price" of NFT.
On a weekly basis, the program compiles an algorithm that calculates prices for the "latest collections".
The algorithm of this bot is based on a hedonic model that collects price indices from a data pool of "thousands of nft transaction records". CoinSharesNFTAI uses the official Opensea API to download specific nft collection sales data.
The creators of the bot noted that this prototype uses a relatively small amount of data, compared to a large number of various indicators that exist in the NFT market. Therefore, it cannot be the "last resort" in the formation of the value of the coin.
