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CoinShares declared that the launch of its bot to calculate the price of crypto will take place this January. According to the Twitter bot functionality, it will help NFT investors estimate the fair market value of all OpenSea-listed NFTs. The Twitter bot helps NFT investors demystify the NFT industry and determine their NFT value.
CoinShares claims that, based on their experience with cryptocurrencies and quantitative metrics, they have developed a pilot program to value NFTs. And its ownership does not matter. This framework is based on the concept of NFTs and math statistics.
The way the bot works
The program forecast includes factors such as hype, scarcity, interest, content and product, as well as data such as transaction volume and NFT project activity.
Coinshares is a European investment and corporation that creates unique financial products and services. Coinshare recently announced plans to develop the Hal retail platform. This will help traders with a variety of strategies to analyze the market and make better deals.
How new Twitter policies can affect the bot operation
Before buying Twitter, Elon Musk said one of the reasons the social network didn’t accept the deal was a lack of clarity about the spam program. Following the Twitter spokesperson, creating machine-controlled news, whether harmless or not, is fairly simple when it comes to computer programming. As a result, a company may have to get rid of as many as 1 million unwanted accounts every day.
As CoinShares gets ready to announce its NFT review, Musk will continue the acquisition process and the helpful bots will be subject to further scrutiny, which could lead to a review of Twitter’s current policy.
Where do the bots get the information
Nowadays, CoinShares only operates with OpenSea, except for several Solana exchanges, which may leave gaps in the robot’s platform appeal. Possible marketers use the bot’s Twitter feed to specify the most popular combinations analyzing the number of price requests the program gets and use this info to determine the selling value of NFTs.
For the reasons that bots rely on OpenSea information, corrupted values can provide bots with incorrect price information for certain tokens.