MetaMask Joint NFTBank To Present Information On The Latest Price Collection Of NFT

MetaMask shows the price of NFT in the crypto wallet. (Photo; Doc. Bitnovosti)

JAKARTA The leading crypto digital wallet, MetaMask, has partnered with NFTBank to display NFT prices on the platform. That way, the NFT holder MetaMask can see the price. The company plans to display digital art prices from 5000 NFT collections.

Both MetaMask and NFTBank realize that NFT infrastructure is still lagging behind, especially for the holders of the digital collection. This step is an effort to curb NFT infrastructure to support the development of digital art.

While the NFT phenomenon clearly strengthens itself in 2021, the infrastructure for NFT holders is still lagging behind. For example, while users can see transactions and their portfolio value for ERC-20 tokens, this is much more difficult for NFTs, "said NFTBank, launching CryptoSlate.

To solve this problem, NFTBank developed a sophisticated Machine Learning-based statistical algorithm. This algorithm helps ensure price estimates for each NFT.

This technology is 90 percent accurate and usually uses information such as base prices (floor prices), scarcity (rarity), and bid distributions to calculate single price values for each NFT contained in a certain collection.

The need to understand the corresponding price of NFT is becoming increasingly clear with many studying the dramatic volatility of the NFT market in a difficult way and simultaneously studying the potential of NFT as a new digital asset class, said Daniel Kim, CEO of NFTBank.

With this new feature, NFT holders can view their portfolio value at a glance, taking advantage of ML-based NFTBank price forecasts.

"MetaMask continues to provide a rich NFT experience, and enabling price information for our users in the portfolio dapp is another step forward," said Kai Huang, Product Manager, MetaMask Portfolio dApp.

With these efforts, MetaMask strengthens its position as a leading crypto and NFT digital wallet service provider. Most recently, the Opera browser has also been integrated with the MetaMask wallet in its browser. This allows users to connect their crypto wallets directly without having to open any other apps.