Imagine if you could leverage AI to make informed NFT buying decisions.
The decentralized data analytics and forensics protocol, bitsCrunch just announced its AI price estimation bot & its API.
According to the public release, the AI-powered tool offers data-driven insights to guide both seasoned collectors and those new to the digital art scene.
First, it dives into the NFT’s history, analyzing past sales of that specific NFT alongside similar ones. This helps understand how prices have moved and current market trends.
Next, it goes beyond just past sales. By gauging current interest and demand for the NFT, the bot can predict how much potential buyers are willing to spend. Think of it as reading the room at an auction.
Rarity is another crucial factor. Just like a unique painting, the bot meticulously analyzes the NFT’s traits and how rare they are. This ensures the estimated value reflects its collectability and desirability.
To ensure the accuracy of these predictions, the bot employs a special weapon: a wash trade detector. This clever tool filters out misleading data caused by fake transactions, so the estimates are based on genuine market activity.
By considering these factors together, our Price Estimation Bot provides a comprehensive picture to help you make informed decisions in the exciting world of NFTs.
The announcement also noted that the bot currently covers a wide range of popular blockchains, including Ethereum, Polygon, Avalanche, and Binance Smart Chain, with Solana compatibility coming soon. This expansive reach, combined with bitsCrunch’s database of over 150 million assets, allows them to provide comprehensive price estimations across the NFT market.
