It’s been a rough period for the NFT industry that once drove the crypto bull run. NFT’s weekly trading volume dwindled from $1.4B to $45M, Yuga Labs is laying off people in light of decreasing revenue and needing to re-focus ..

However, events and metrics focused on PFP NFTs, which had been the star of the show, may be a misleading indicator of what will become of the NFT market. Contrary to what may seem on the surface, the movements on the ground tell us that the NFT ecosystem is going through a step change towards a lasting future — both in what NFTs mean and the financial infrastructures that will expand the NFT-based economy.

Diversification of NFT as an asset class

NFTs, in their essence, are various objects or assets that are non-fungible in nature, represented as tokens. This means that many different things can be NFTs, not just PFPs. At NFTBank, we’ve always been looking forward to the time when this essence is realized because only then, will there be a lot more data-driven opportunities to expand the NFT-based economies.

We’re slowly seeing that this time is on its way; after the season of “apeing”, more people are interested in leveraging NFTs as a technology to represent more utility-based assets and/or assets with proven value.

As discussed previously, RWAs represent a big part of such NFTs. In addition to USDC & US T-Bills covered in our article, a few notable types include:

• Physical assets: Works from the likes of 4K Protocol are bringing physical assets, such as Rolex and even T-shirts on chain as NFTs
• Real Estate: Whether actual buildings or mortgages, there have been continuous efforts to leverage NFTs in capturing the real estate market on chain

Utility-driven NFTs actually go beyond RWAs. Namely:

• Music: (perhaps considered as RWAs) Songs, not just those of rising artists, but those of megastars such as Justin Bieber, are being turned into NFTs, which allow fans to invest in the future royalty streams of those songs.
• Cashflows: similar to music royalty streams, on-chain streams — be it payroll, airdrop, payroll, or grants — are captured as NFTs (kudos to the team at Sablier), and even integrated with lending protocols such as NFTfi
• In-Game Assets: With web3 gaming being one of the few well-funded sectors in this bear market, there’s a lot of building underneath the surface in web3 gaming. Though there are varying opinions on the extent to which the games should be fully on-chain, there’s a general consensus that NFTs are a good fit for in-game assets. With the sovereignty enabled when in-game assets become NFTs, the propensity to spend and drive the capital economy in games will increase, so many are optimistic.

By no means, is this a complete list, and to be exact, these NFTs have existed for some time. However, the lessons from the first NFT run have sparked stronger interest and further development around these various types of NFTs that are known to have more inherent or proven value. What we see today captures the true nature of NFTs better and the build is quietly happening in the midst of the bear market.

Financial infra for NFTs

The past NFT bull market has also left the preliminary development of a financial infra that allows NFTs to be leveraged as an asset class at scale. Let’s put ourselves in the shoes of an NFT fund as a way to make the matter more concrete.

While individual retail investors can be an important part of market growth, larger liquidity comes through funds. They further expand the opportunities associated with the asset by their ability to engage in more sophisticated dealing of the assets. The NFT bull run has given rise to NFT funds as an increasing number of people sought exposure to the esoteric asset.

For these funds to operate, a number of different systems needed to be in place. At the most basic level..

• Custodial Solutions: Without custody, there can be no funds. Players such as Bitgo & Fireblocks have expanded their support to include NFTs, and institutional wallets (which connect funds to different custodial solutions) like Metamask Institutional, also support NFTs now
• Fund Admins: Working closely with the funds are fund admins to manage a lot of the operational matters. Notable Fund Admins who’ve been serving NFT funds include NAV Consulting, Formidium (formerly known as Sudrania), and others.
• Tax & Audit Services: Accounting firms (Big 4 as well as boutiques such as Marcum) are frequently spotted speaking or holding booths at crypto conferences, as they offer services to some of the largest crypto funds. Getting deeper into the ecosystem, they follow the market and closely engage with not just FT infrastructures, but also with teams building around NFTs.
• Asset Valuation: Asset valuation is a critical component for LP reporting and NAV calculation. NFTBank has been privileged to be trusted by and serve NFT funds, and work with accounting partners to deliver the most reliable asset information to assess the fair value.

Furthermore, there are also infrastructural developments that allow funds to better control risks while getting exposure to NFTs. This, in turn, allows more capital to flow in.

• Lending protocols: the advent of NFT-backed lending protocols definitely extended the market during the hay days. It continues to support the ecosystem growth as new forms of NFTs emerge. For example, Arcade.xyz has been facilitating loans on Rolex NFTs & T-shirt NFTs mentioned above and NFTfi on on-chain streams in partnership with Sablier.
• Secondary market: the availability of secondary markets, especially those that are tranched, further expands the market as it gives the originator of NFTs or NFT-backed loans a way to more reliably liquidate their holdings, as well as gives way for investors to access exposure with specific risk parameters. Metastreet is a team that’s been leading the way in this space.

Surely, these systems will need to evolve along with the NFTs. Still, their hands-on exposure to handling NFTs, which are much more complicated than FTs, can serve as a foundation to quickly follow the development and help expedite the market growth when the time is ripe. The competitive edge of these players is non-neglectable.

Builders keep building

While no industry-wide craze exists around NFTs anymore, not all was lost. The remnants of the bull run are pushing the evolution that will manifest the full potential of NFTs and grow a more stable ecosystem around it.

We’re excited for this future. Are you a builder looking to unlock new forms of NFTs with real value? Are you an NFT fund seeking ways to operate your fund with less headache? We’d love to connect and help.

Let’s bring our heads together to shape the future together. You can find us on Discord, Twitter or via email (contact@nftbank.ai).

About NFTBank

Backed by the top investors in the scene, NFTBank has been developing the most accurate and comprehensive data sets that help the Web3 community understand individual NFTs. Whether it’s the broader market data (e.g., Floor Price, Trait Floor Price, Sales volume, Sales price distribution) or individual NFT-specific data (e.g., NFTBank Price Estimate, Metadata, Acquisition Price), many dApps and NFT finance protocols trust NFTBank for the most reliable NFT data and expertise.

Learn more

NFT ecosystem growth during the bear market was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

NFTBank has gained a reputation for serving NFT investors by offering in-depth analysis of NFTs from an asset management perspective. Understanding the value of these assets became crucial given the significant price fluctuations of NFTs, especially collectibles, where it was challenging to pinpoint the driving factors behind their price movements. This led us to ponder: While collectible NFTs were captivating due to the social buzz and high trading volumes they generated, we recognized that NFTs could evolve into representing asset classes with more inherent utility than profile picture (PFP) NFTs.

This is why NFTBank is thrilled to witness the tokenization of real-world assets (RWAs) — tangible assets that exist in the physical world, such as real estate, natural resources, treasury bills, and more — on the blockchain. But what exactly does it mean for RWAs to be brought on-chain?

• It presents opportunities for DeFi users to earn stable yields from dependable real-world assets rather than relying on unpredictable crypto assets.
• It offers borrowers a chance to borrow from new lenders in the web3 space, where they wouldn’t be able to in traditional finance
• It provides lenders with the option to collateralize more stable asset classes than crypto assets when offering loans.

The tokenization of real-world assets has the potential to usher in a wave of new financial instruments and opportunities. But how far have we come in realizing this vision?

Steps moving forward for tokenizing Real World Assets

While the concept of tokenizing RWAs has been discussed for some time, we are excited to witness promising use cases emerge, notably with U.S. Treasury Bills. These bills are a prime example of stable assets in the traditional financial world that have been successfully tokenized. In fact, various platforms have already tokenized T-bills, collectively representing a total value of $668 million! But what’s driving this sudden surge in demand, and why is it happening now?

As yields from traditional financial assets like U.S. Treasury bonds started to outperform returns from crypto assets and DeFi protocols, an opportunity arose for DeFi users to gain exposure to assets that not only provided stable yields but were also more stable than crypto assets. While it might be premature to assert that RWAs, such as T-Bills, will become central to web3 finance, we are witnessing tangible progress toward integrating them into the blockchain ecosystem and exploring novel solutions.

Steps moving forward for NFTBank

In addition to Treasury bills, we are also observing other RWAs like real estate, commodities, and even luxury goods being tokenized and locked on-chain. As innovation in RWAs continue to evolve, there is still much work to be done, particularly in areas such as regulation, user experience (UX), security, and asset management. We remain dedicated to the maturation of RWAs within the blockchain space.

It’s exhilarating to envision how these assets will be tracked and managed once they are brought on-chain in the form of NFTs. NFTBank’s vision is to provide a full understanding of the NFT assets investors hold so that they will be able to make informed financial decisions in this space.. As the NFT market gravitates toward asset classes with real-world utility like RWAs, NFTBank is committed to being a part of this journey from its inception.

We are actively seeking partners who share our vision for RWAs. If you resonate with our mission, please reach out to us through our social channels. Let’s collaboratively shape the future of this space!

About NFTBank

Backed by the top investors in the scene, NFTBank has been developing the most accurate and comprehensive data sets that help the Web3 community understand individual NFTs. Whether it’s the broader market data (e.g., Floor Price, Trait Floor Price, Sales volume, Sales price distribution) or individual NFT-specific data (e.g., NFTBank Price Estimate, Metadata, Acquisition Price), many dApps and NFT finance protocols trust NFTBank for the most reliable NFT data and expertise.

Learn more

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: http://discord.gg/8Rg63UnhYb

Our take on Real World Assets was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

In 2020 and still today, we remain bullish on Web3 gaming NFTs, and we’re currently in the process of building a gaming-focused product to develop our portfolio manager. Subscribe and stay tuned!

🎮 If you’re a game company interested in collaborating with us, please reach out to Zoe (TG: @zoebringsjoy, email: zoe@contxts.io).”

Overview

Since 2020, NFTBank has been bullish on NFTs as a financial asset class, especially in the world of Web3 gaming. That’s because NFTs have specific utilities in gaming, different from PFPs, and these uses can be translated into fundamentals. That’s also the reason why our NFT valuation model began with gaming projects like League of Kingdoms, Axie Infinity, and Decentraland.

For some of these games, we even provided in-depth analytics and we’ve witnessed that the more users fully understand NFTs from all angles, the more vibrant the game’s economic ecosystem becomes.

Now, with the development of infrastructure(think AA and L2 enabled by rollups) and many more advanced Web3 games emerging, we believe it’s the right time, based on our expertise, to expand these analytics to more games.

🎮 Are you developing games and interested? Please contact Zoe. (TG: @zoebringsjoy, email: zoe@contxts.io)

In this post, we’ll give you a sneak peek into the gaming asset portal we’re building by showcasing an example of what we did with League of Kingdoms.

Our first success story — League of Kingdoms 👑

We’ve had a successful partnership with League of Kingdoms — one of the most renowned Web3 games backed by a16z, Hashed, Sequoia, and others — by enabling users to understand how they could manage their Land NFTs. Our dashboard, integrated as the “insights” tab in its official land portal, continues to attract steady traffic and user appreciation.

Beyond basic prices and traits

• Spending, Revenue, ROI, and traits of NFTs are a must, but not enough.
• We help users manage risk with their assets and seek opportunities as well.

How?

• LoK Land NFT owners earn $LOKA on a weekly basis depending on the level of the land.
• By analyzing data on all land NFTs, we help users predict the level of land NFTs they own for the upcoming week.
• With this information, users are able to maintain stable cash flow or seek opportunities by selling less attractive land and buying more attractive land based on detailed market data.

Click here to see how these are implemented in the dashboards!

Contact

This is just the tip of the iceberg of what we can showcase. In the gaming asset portal, the users will have access to all the analytics customized to each game that will help manage their NFTs.

If you’re interested in offering this kind of insightful dashboard to your users or exploring potential collaborations with us, we’re more than happy to connect!

• Product Manager: Zoe Oh (zoe@contxts.io/ TG: @zoebringsjoy)
• NFTBank Overall: Contact

About NFTBank

Backed by the top investors in the scene, NFTBank has been developing the most accurate and comprehensive data sets that help the Web3 community understand individual NFTs. Whether it’s the broader market data (e.g., Floor Price, Trait Floor Price, Sales volume, Sales price distribution) or individual NFT-specific data (e.g., NFTBank Price Estimate, Metadata, Acquisition Price), many dApps and NFT finance protocols trust NFTBank for the most reliable NFT data and expertise.

Learn more

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: discord.gg/8Rg63UnhYb

(Coming Soon) NFTBank Gaming Asset Portal 🕹 was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

The estimation of volatility for NFT (Non-Fungible Token) assets is of significant interest in the domain of financial analysis. Volatility, representing the degree of price fluctuation and uncertainty, plays a crucial role in assessing the risk and potential return associated with these unique digital assets. In this context, confidence intervals can act as a valuable tool for measuring uncertainty and establishing a range of possible outcomes.

By computing confidence intervals for NFT asset volatility, we can unlock several opportunities for analysis and decision-making. Here, we explore those opportunities in the following ways:

1. Risk Management/ Portfolio Optimization: Confidence intervals enable investors to construct portfolios with a consideration of NFT asset volatility. By accounting for the uncertainty associated with each asset, investors can seek to optimize portfolio returns while managing risk. Confidence intervals facilitate the evaluation of trade-offs between risk and reward, supporting the identification of optimal asset allocation, position sizing, and hedging techniques
2. Detailed Investment Decision-Making: By comparing confidence intervals across different NFT assets or investment opportunities, investors can make more informed investment decisions. Assets with narrower confidence intervals may indicate relatively lower volatility and potentially offer a more stable investment choice.
3. Pricing and Valuation: Confidence intervals can aid in pricing NFT assets, especially in marketplaces where transaction data is limited or volatile. By incorporating confidence intervals into pricing models, market participants can better capture the potential price range within which an NFT asset’s value may fluctuate, allowing for more accurate valuation assessments.

We aim to estimate confidence intervals for NFT asset volatility, providing a comprehensive framework for understanding and quantifying the uncertainty surrounding these unique digital assets.

Why is Interval Estimation More Effective Than Point Estimation?

NFTBank’s Valuation model aims to estimate the current asset value of NFTs using transaction data. Estimation can generally be divided into two types: point estimation and interval estimation. Point estimation involves estimating a single value, providing a concise and easily interpretable result.However, the limitation of point estimation lies in its inability to adequately reflect uncertainty based solely on the estimated value. To address this limitation, interval estimation is used to evaluate the reliability and uncertainty of the estimation more accurately.

Unlike point estimation, which aims to estimate a single point, interval estimation presents results as a range, acknowledging uncertainty and providing information about the possible values the estimated quantity can take with a certain level of confidence. This approach offers more statistical information by explicitly indicating the range of values that can be attributed to the estimated value.

Generally, interval estimation involves iterative estimation of estimation errors and establishing intervals based on assumptions about the distribution of the estimated value. However, such processes often require substantial computational resources, prompting us to explore alternative approaches for estimation. Therefore, based on these considerations, we intend to introduce quantile regression as a means to estimate intervals in our analysis.

How Did We Enable Interval Estimation?

To enable interval estimation, we employed the concept of quantile regression, which involves estimating quantiles of a distribution. Quantile regression provides a more robust estimation approach by directly estimating quantiles instead of relying solely on point estimates. This leads to more reliable and accurate interval estimations, considering the uncertainty and variability in the data.

It is known that the parameters and corresponding predictions that minimize the check loss represent the predictions for the tau-quantiles. Therefore, to obtain the desired confidence interval at a given significance level alpha, we constructed a model that simultaneously estimates the lower, medium, upper quantiles with respect to significance level alpha.

However, many non-linear models, including neural networks, face a critical issue in estimating multiple quantiles simultaneously, known as the crossing problem.

The crossing problem refers to the occurrence of inversions between the predicted values of two quantiles. This means that the 40% quantile may have a higher value than the 60% quantile, which violates the properties of quantiles. When inversions occur, the range of values for the predicted interval cannot be preserved, necessitating pre- or post-hoc adjustments.

At NFTBank, we developed a model structure to address the crossing problem. Firstly, we created a custom objective function capable of estimating multiple quantiles, enabling us to utilize first-order optimization by computing the gradients. Additionally, we leveraged the monotonicity condition within the LightGBM module to ensure that the monotonicity condition holds for the estimated quantiles.

By implementing these methods, we successfully enabled interval estimation, allowing us to estimate quantiles and construct reliable confidence intervals for NFT asset valuation and volatility analysis.

Conclusion

For this article, we covered the importance of volatility in the NFT pricing ecosystem and how we manage the influence of volatility through our NFT Estimate Confidence Interval. Through a proper confidence interval, users can get a range of uncertainties compared to a single point to manage risk for different digital assets and optimize their portfolios.

The confidence interval is opened for free for a limited time only, before it goes to the Pro+ version. Test it out right now on our API Docs page.

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: discord.gg/8Rg63UnhYb

Measuring the uncertainty of NFTs through Confidence Intervals. was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

NFT price appraisal is a solution for unlocking the liquidity of NFTs. NFT portfolio management, NFT lending, and NFT fund operation all become possible the moment you can accurately evaluate the value of an NFT.

NFTBank — with three years of expertise in NFT valuation — has been providing the data in the form of API. Covering 5000+ projects with over 90% accuracy, NFTBank’s ML-based valuation model has now become the core building block for various NFT finance protocols. (see NFTBank API docs)

In the past year, NFTBank’s focus was to bring innovation to the Ethereum-based NFT financialization ecosystem. We witnessed the rise of NFT-backed loan services, various forms of NFT renting, and even NFT derivatives being built on top of our API. What’s more, our valuations drove incremental engagement in MetaMask Portfolio dApp and other NFT-based dApps.

Taking a step further, NFTBank now aims to expand the NFT finance layer to other ecosystems as well. Recent market trends and dynamics show that there’s one place where the next innovation will be happening — the Polygon Network. And as the leading NFT valuation provider, NFTBank is proud to announce that it will serve the first-ever NFT valuation model for Polygon.

Polygon, the Key to NFT Mass Adoption

Polygon is a Layer 2 scaling solution built on Ethereum. With fast transaction speed, low gas fees, and carbon neutral chain, it is dedicated to bringing forward the mass adoption of Ethereum. This is made possible through Polygon’s Proof of Stake (PoS) solution, which bridges assets between Ethereum and Polygon.

Lately, Polygon has been an influential leader in NFT mass adoption, onboarding powerful Web2 brands to its network. Some of its jaw-dropping partnership news include:

• Reddit’s limited-edition Collectible Avatars launched on Polygon,
• a new feature on Instagram where all users will be able to mint and sell NFTs powered by Polygon,
• and Starbucks Odyssey, an extension of the Starbucks Rewards loyalty program with NFTs minted on Polygon.

Polygon also announced it would go deep into PFP NFT collections in 2023. A few months back, Polygon succeeded in onboarding Y00ts and DeGods onto its network. Gaming and metaverse are other target sectors of Polygon, managed exclusively by Polygon Labs. Decentraland and The Sandbox are among many platforms that support the Polygon network.

Unlocking Potential for NFTs on Polygon

Without a doubt, the Polygon NFT ecosystem is growing at a fast pace. As its NFT market further expands and matures, NFTBank’s valuation API will become an essential tool for building various NFT services on top of Polygon Network.

What could be the potential synergy between Polygon NFTs and NFTBank’s price appraisal? Here is a detailed picture of what will become possible with Polygon valuation APIs:

1. Gaming and Metaverse: Previously in the Ethereum network, NFT valuations were conveniently used by both individuals and guilds to manage gaming assets in platforms such as Axie Infinity. As various game platforms are actively deploying on Polygon, users can now manage Decentraland Wearables and The Sandbox LAND with more ease by tracking its past and current valuations.
2. Investments in PFP NFT Collections: NFTBank’s NFT price appraisals take into account an NFT’s trait metadata and sales history to accurately compute a valuation for an NFT in a collection. The valuation, unlike floor price, reflects the rarity of premium NFTs — providing a basis for more complex analysis. In fact, many Ethereum-based NFT analytics protocols have integrated NFTBank’s Estimated Price API to create new dashboards for NFT price monitoring. All of this is now possible on Polygon.
3. NFT x DeFi: NFT financialization, or NFT DeFi, newly emerged with the growth of the NFT market. As new protocols formed on top of the financial layer, NFT valuations played a critical role in making more sophisticated economic activities possible. For instance, when borrowing against high-rarity NFTs (e.g., Golden Fur BAYC), both the lender and borrower would prefer to use NFT valuations to assess the collateral than to use floor price (40% LTV out of 70 ETH vs. 400 ETH). Likewise, reflecting the premium value of the NFT unlocks the potential liquidity of NFTs, thereby enabling more fair and active NFT DeFi activities. The same applies for NFT loans (both P2P and P2Pool), BNPL, and NFT renting.

Build on Polygon with NFTBank’s Valuation API!

Ryan Wyatt 💜 on Twitter: "2022 we expanded marketplace and wallet integrations w partnerships across @opensea, @MagicEden, @coinbase, @RobinhoodApp, @phantom, and more.We then focused on establishing big brands in web3.Then we went big into Gaming, DeFi, & Music.2023 we'll go big into PFP & art.💜 / Twitter"

2022 we expanded marketplace and wallet integrations w partnerships across @opensea, @MagicEden, @coinbase, @RobinhoodApp, @phantom, and more.We then focused on establishing big brands in web3.Then we went big into Gaming, DeFi, & Music.2023 we'll go big into PFP & art.💜

Polygon was hands-on about establishing itself in metaverse and gaming last year. Entering 2023, Polygon will be pushing forward the PFP and art sector — which hints that the NFT in Polygon will be the next big thing. With increasing popularity and its strength in mass adoption, one can only expect how strong the Polygon ecosystem will grow. And when its NFT ecosystem grows mature, NFTBank’s valuation API will be there to support any kind of NFT-related projects built on Polygon.

Are you looking for products and services to build #onPolygon? Or are you searching for ways to upgrade the user experience of your project? Try out our newest Estimated Price API for Polygon NFTs — the most trusted infrastructure for NFT financialization.

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: discord.gg/8Rg63UnhYb

Introducing: The First-ever NFT Valuations for Polygon was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

Understanding NFT market trends involves more than just surfing through marketplaces. You can check out floor prices and the number of NFTs in a collection via OpenSea, but that’s basically it.

What if there’s a way to collect every market data about any NFT collection you like? Let’s say — the number of NFTs newly listed in the market today? Or the total number of NFTs traded ever since the collection was minted? What about the minimum and maximum sales price throughout a certain timeline?

NFTBank’s new API product, the “Market Status API,” is here to make all this possible. Categorized into three different features, this API helps you get a full picture of NFT market trends. This is especially a great tool for those of you who are building NFT data analytics or NFT marketplace aggregators.

Now, let’s take a look at each feature one by one:

1. NFT Listing Data,
2. NFT Trading Data,
3. and NFT Sales Statistics.

NFT Listing Data

NFT Listing Data covers two types of datasets:

• todayListed The number of NFTs in a collection that has been newly listed in the market today
• totalListed The total number of NFTs currently listed in the market

With this API, you can identify the supply of NFTs in a specific collection. You can also access the historical listing data with our API, so don’t give away the opportunity to test this out.

NFT Trading Data

NFT Trading Data consists of four different trading-related datasets:

• numTrades The total number of trading activities that took place in the collection in a day
• mintTrades The total number of minting activities that took place in the collection in a day
• totalSupply The total supply of the collection, i.e., the number of NFTs
• tradeVolume The total volume of NFT trades in ETH

By utilizing the Trading API, you can fetch data that shows how active the selling/buying activities of a collection are. That is, you can compare the size of trading activities in different NFT collections to figure out the most popular collection at the moment.

Sales Statistics Data

Sales Statistics API provides you the insights into NFT sales over a certain period of time and gives the following set of data:

• min The minimum price of NFT in the collection sold in a day
• max The maximum price of NFT in the collection sold in a day
• avg The average price of NFTs in the collection sold in a day
• var The variance of NFT prices in the collection sold in a day
• SoldPrice Proportion from the first to last category of interest (p1~p9)

Going deeper from the Trading Data API, you can find out the minimum/maximum price of NFTs sold in a collection. This may be an important insight for understanding the distribution of sales in a collection.

Building With Market Status API

Now that we’ve skimmed through each individual endpoint, you might have an idea of how to well-integrate this tool to better your product or service. Here’s what you can do next:

1. Access NFTBank’s Market Status API and try it out yourself. There’s a test API key in the docs waiting for you already!
2. If you like it, try out our other API endpoints as well — notably the Estimated Price API, our proprietary data for NFT valuations.
3. Want to get your own API key for integration? Request for an API key through our Typeform. Our team will review your response and get back to you soon.

NFTBank is always on the frontline of NFT financialization, building useful infrastructure for teams that want to build financial protocols on top of NFTs. Subscribe to our channel to get updated on our latest features!

About NFTBank

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. NFTBank’s ML-powered NFT valuation engine covers 5000+ projects with high accuracy.

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: discord.gg/8Rg63UnhYb

Market Status API is Now Available was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

Introduction

A couple of weeks back, we covered how NFTBank’s estimated price appraisal has powered our partners to drive NFT finance forward. Of the three categories we covered, P2P lending was one of the first protocols that really found a need for NFTBank’s estimated price.

P2P Lending allows an NFT holder to connect with a lender who is willing to take the NFT as collateral without any third-party interactions. NFTBank plays an integral part in our partners’ lending protocol by providing the estimated price of the individual NFTs being used as collateral. Having the estimated price unlocks liquidity that an individual NFT can hold, making the lending experience more fruitful for both borrowers and lenders.

Today we are proud to present another powerful P2P Lending player that we partnered up with: X2Y2

X2Y2: Marketplace AND P2P Lending Protocol

X2Y2 is one of the biggest secondary NFT marketplaces in the space, with approximately 2.4M ETH in total volume and over 200K+ total daily users in less than a year since launching.

While maintaining their position in the NFT marketplace scene, in late September 2022, X2Y2 came out with their new P2P Loans service. Within a month from starting, X2Y2 has the third largest weekly lending volume behind BendDAO and NFTfi, averaging ~650ETH per week. Fast-forward another month and now, they are the fourth largest Lending platform with a total lending volume of 4.9K ETH.

Here are some key features of X2Y2’s loan platform:

• 19 Whitelisted NFT collections to protect lenders against volatile assets
• Lenders are able to make an offer to a collection OR an individual NFTs that are listed on the marketplace
• 0% platform fees for both lenders and borrowers
• And now, NFTBank’s Estimate Price appraisal, which captures the valuation of individual NFTs being used as collateral.

NFTBank x X2Y2

By integrating NFTBank’s Estimated price into X2Y2’s loan platform, borrowers will be able to fully unlock the value of the NFTs they are using as collateral, and lenders will have the chance to come up with more diverse loan terms. Here’s a peek at what it looks like

Lenders: More Diverse Loan Terms

Having NFTBank’s valuation for each individual NFTs displayed all at once gives the lenders a view on which NFTs they should lend against. Based on the individual valuation of the NFT, lenders can control the amount in which they want to lend and receive interest rather than being fixed to the floor price of the collection where the lenders are limited to offering the same loan term.

An additional handy part of NFTBank’s valuation is its ability to deliver the estimated time in REAL-TIME. Lenders can see an updated valuation in real-time to help decide which NFTs to lend against. If you’re curious about how the valuation for the NFT was made, go ahead and click on the “make offer” tab and hit on NFTBank’s logo to get an in-depth look at the NFT!

Borrowers: Unlock the premium of your NFTs

The best part about P2P lending for borrowers is that they are able to negotiate how much their NFT is worth. NFTBank makes this negotiating process a bit smoother.

With NFTBank’s valuation being displayed on X2Y2, borrowers have insight into how much they can offer to borrow more than just the floor price. Borrowers don’t have to go through different sites to find the proper valuation of their NFTs. On top of that, since NFT valuations are bound to change, the real-time valuation change of the NFT will be shown on X2Y2’s loan service. Borrowers can adjust how much they want to borrow based on the change in value.

Whether you want to borrow or lend, join the loan parade at X2Y2!

https://x2y2.io/loan

What’s next?

NFTBank and X2Y2 are continuing to explore different ways to enhance our partnership. NFTBank is continuing to explore and work with platforms like X2Y2, which are making it easier for NFT investors and collectors to navigate around the NFT space, especially with NFT financialization. Reach out to one of our socials if you’re interested!

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: discord.gg/8Rg63UnhYb

NFTBank’s NEW Partnership Announcement was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

Welcome back to our NFTBank partner highlights series part 3, where we cover our unique BNPL partner: Cyan.

“THE” BNPL platform

Cyan is the first buy now pay later (BNPL) service for the Metaverse. Their goal is to allow users to purchase an NFT with the least amount of financial burden.

BNPL (Buy Now, Pay Later) allows a person to purchase a product through a third party, and then pay the third party back with interest. This allows a user to buy something expensive in small increments over time which decreases the financial burden of having to make a huge purchase all at once.

Cyan’s BNPL service allows a user to pay for an NFT by paying an initial deposit to Cyan and then paying off the debt plus interest over three months.

What’s special about Cyan’s BNPL service is that the user has access to the NFT’s utilities like receiving airdrops and staking, even before it is fully owned. This is a way of “trying on” an NFT before making the full commitment.

More than just BNPL

While Cyan is well-known for their BNPL service, they also have a “pawn” service which is a P2Pool lending service with a fixed three -month term.

Those who want to pawn can choose the LTV they wish to borrow (either 20% or 33%) and then put up the NFT to be used as collateral. The service will appraise the value of the NFT and the interest is calculated by their internal risk engine.

Appraising the value of an NFT on pawn is important because the amount the user can borrow is dependent on the valuation of the collateral. This is where NFTBank steps in, again.

While Cyan has an appraisal system for NFTs being used as collateral, they also integrated NFTBank’s Estimated Price API. NFTBank’s Estimated Price API gives the value of an NFT, capturing all of the necessary traits that factor in the price. This allows users to potentially borrow more than just at a floor price through Pawn.

Coming soon…

NFTBank and Cyan are discussing ways to integrate NFTBank’s price appraisal into other products like their BNPL service as well as bringing Cyan’s products like BNPL and pawning to NFTBank’s platform to spread the potential of BNPL and NFT finance in the space.

Having the biggest BNPL player as one of our partners allowed us to become more innovative with our price appraisal. We are continuing to look for powerful players like Cyan to explore ways to foster NFT finance together. Reach to one of our socials if we missed you!

About NFTBank

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. NFTBank’s ML-powered NFT valuation engine covers 5000+ projects with high accuracy.

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: discord.gg/8Rg63UnhYb

NFTBank Partner Highlights Part 3 — BNPL Platforms was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

We’re back with the second round of our partner highlights. Last week, we covered our P2P Lending partners: NFTfi and Arcade. We discussed that P2P lending allows two parties to come together and make an independent decision regarding their loan.

A similar type of lending is P2Pool except, in this case, the lenders are not individually interacting with a borrower who comes up with individual NFT valuations. Rather, the lenders provide liquidity to a common pool based on the NFT collection so that the borrowers can get an instant loan. The instant loan is possible because, unlike P2P, P2Pools generally use an agreed-upon price for an NFT collection: the floor price.

The share of the pool that each lender owns is proportional to the amount of interest that each lender gets back when the borrowers return their principal + interest.

Let’s take a look at how our partners are running their lending platforms, and what kinds of pricing information are needed from NFTBank to power these services. Introducing our P2Pool partners:

• Pine
• and Unlockd Finance

Pine x NFTBank

Pine is one of the first P2Pool lending platforms in the space. What’s unique with Pine is that they allow the lenders to open up “segregated” pools so that lenders do not “mix” capital with other lenders. This means that each lender can select the NFT collection they want to lend to, then set their own personal loan terms for their newly created pool of lendable funds.

For borrowers, this means they have options to choose from, within the same NFT collection, different loan terms, and loan pool amounts. This P2Pool platform gives lenders the freedom to set terms without negotiations and borrowers the ability to access instant liquidity from a selection of lending terms that fit their risk profile.

Then, where does NFTBank collaborate with Pine?

For Pine, the amount of LTV of the collateral heavily depends on the floor price of the specific NFT collection, and this floor price is provided by NFTBank.

NFTBank’s floor price is aggregated from major secondary marketplaces like OpenSea, LooksRare, and X2Y2. This helps take care of any differences across major markets and represents a more stable floor price as a whole for protocols like Pine to use.

Aside from providing our floor on Pine, Pine has also integrated into NFTBank’s discover page so that users can see which NFT collections are eligible for an instant loan on Pine. We have also included this integration on NFTbank’s mobile app so that users can get an instant loan, on the go.

Unlockd Finance — coming soon

Another P2Pool partner that we are working with is Unlockd Finance. Unlockd Finance hasn’t launched yet but they already have a massive community.

Unlockd is primarily known for its presence in the gaming space and they are gearing up to become the lending protocol for gaming-related protocols like guilds, to help unlock millions of dollars locked up in gaming. If you’re a gamer, you won’t want to miss this.

NFTBank x Unlockd Finance

While P2Pools are known to use floor prices to value the collateral, Unlockd uses our estimate price model to set the loan terms for borrowers. Borrowers are now able to fully unlock the value of the NFT they own rather than being tied to the collection floor. Not to mention, they would be able to borrow instantly based on the P2Pool setting that the protocol runs on.

Unlockd Finance is just getting ready to launch and here is what they have to offer for its users:

• Use the utilities of the NFTs you lock up as collateral
• Borrow LTVs up to 85%!
• A grace period for borrowers when liquidation events occur

NFTBank in the P2Pool Landscape

NFTBank has always been about supporting NFT finance, especially P2Pool lending platforms like Pine and Unlockd Finance. We are continuously exploring and solving different pain points as we are eager to meet new partners with that we can work to explore the space together. If you’re one of them, reach out to us on our socials!

About NFTBank

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. NFTBank’s ML-powered NFT valuation engine covers 5000+ projects with high accuracy.

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: discord.gg/8Rg63UnhYb

NFTBank Partner Highlights Part 2 — P2Pool Lending Platforms was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.

Ever since its launch in 2020, NFTBank’s primary goal has been to drive NFT financialization forward. And through years of hard work, NFTBank has positioned itself as a provider of NFT valuation APIs and a portfolio manager app for both institutions and individuals.

Currently, over 50 projects (both small and large) are active users of our NFT pricing APIs. Some are on their way to devising innovative services that have never existed, while others have already grown to become major players in the NFT financialization landscape.

And recently, NFTBank has succeeded in integrating its price appraisals into MetaMask’s portfolio view. Acknowledging this achievement, we would like to express our gratitude to our core partners who have helped us become who we are by actively supporting, promoting, and trusting our pricing model.

The NFTBank Partner Highlights Series

For the next couple of weeks, NFTBank will post a series of articles highlighting our key partners driving the NFT financialization space together. We will explain in detail who they are, what problems they aim to tackle, and how they leverage the NFTBank API. There might be some friendly faces and some new players that you might not know about.

For the very first post, we will dive into the world of peer-to-peer (P2P) NFT-backed lending. Introducing two of our partners who are at the forefront of the scene:

• NFTfi
• Arcade.xyz
• and X2Y2.

NFTBank x NFTfi

NFTfi is the leading marketplace for NFT collateralized loans, with the most significant number of trading actions among various P2P protocols. Anyone can become a borrower or a lender on its platform. A borrower can list an NFT as collateral to get a loan against it; a lender can browse through different NFT collaterals and make loan offers by proposing a loan amount, duration, and interest rate.

To make a loan offer in P2P lending, you must be able to evaluate the price of the collateralized NFT accurately. A commonly used method is to use the collection floor price, but we all know that floor price is “the lowest” price out of thousands of NFTs in the collections and thus does not represent the actual value of individual NFTs.

This is the exact issue we aim to solve by partnering with NFTfi. By providing NFTfi users with the “NFTBank valuation” (also known as estimated price), we help its users make informed decisions when setting loan terms.

The picture above shows how NFTBank valuation steps in as a reference to where the price can be settled around. Covering 5000+ collections at a 90+% accuracy, the model runs in real-time so that the users can see how the value of the collateral changes instantly. NFTBank will continue to support NFTfi to help drive NFT lending, which acts as one of the pillars holding NFT Finance altogether.

NFTBank x Arcade.xyz

Arcade.xyz is another P2P marketplace for NFT collateralized loans. Since its public launch this year, Arcade.xyz has quickly built unique and innovative features for lenders and borrowers.

For instance, at Arcade.xyz, borrowers can mint airdrop-friendly Asset Vaults to leverage multiple NFTs as collateral for a single loan. Meanwhile, lenders that hold stablecoins or ERC20 tokens can also participate in DeFi yield by underwriting term loans collateralized by borrowers’ NFTs. There are many new functions in the platform and you can check them out in their docs here.

Similar to the case above, Arcade.xyz takes use of our proprietary price estimate model to encourage lending and borrowing activities. What’s more, Arcade.xyz also utilizes our floor price API, which provides aggregated floor price data from multiple NFT marketplaces, such as OpenSea, LooksRare, and X2Y2. With both a strong floor price and an estimated price being used as a reference, Arcade is locked and ready for P2P Lending.

NFTBank x X2Y2

X2Y2, one of the biggest NFT marketplaces in the space, recently launched its new P2P loans service. Within a month of starting, X2Y2 Loans secured the third-highest weekly lending volume of 650 ETH per week.

X2Y2 Loans support 19 bluechip NFT collections to lend and borrow against, with 0% platform fees. And now, with NFTBank’s valuation integrated into its platform, users can come up with more accurate and fair loan terms.

You can check out NFTBank’s Estimated Price when looking through NFTs with terms, when setting offers to lend ETH against an NFT, or when you are setting desired terms as a borrower. The valuation is provided in real-time to reflect the constantly changing prices!

NFTBank in the P2P Landscape

NFTBank is continuing to explore the space to form more partnerships in P2P lending. If you are building a P2P protocol (or if you are one), reach out to us! You can always request our floor price and estimated price API through this Typeform, or talk to us directly through our Discord channel.

We will be back with the second part of our partner highlights series: P2Pool NFT-backed lending platforms. Stay tuned to find out who they are!

About NFTBank

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. NFTBank’s ML-powered NFT valuation engine covers 5000+ projects with high accuracy. NFTBank has already become the NFT valuation solution for key projects in the scene, such as Chainlink, NFTfi, Pine, Stater, Unlockd Finance. NFTBank is supported by Hashed, DCG, and other partners and investors.

Join our socials

• Official website: https://nftbank.ai
• Twitter: https://twitter.com/NFTbank_ai
• Discord: discord.gg/8Rg63UnhYb

NFTBank Partner Highlights Part 1 — P2P Lending Platforms was originally published in NFTBank.ai on Medium, where people are continuing the conversation by highlighting and responding to this story.