Buying and Selling NFTs on OpenSea the SMART way

Rarity is an essential tool when interacting with NFTs. But is that measure enough when deciding to buy and sell NFTs on OpenSea? You can now use the NFTBank Valuation tool on Chrome extension to see and compare the estimated price of individual NFTs on OpenSea at a glance. No tabs, no additional browsers

Download Chrome Extension Here

Timeline of OpenSea Buying and Selling

Buying and Selling NFTs at first was pretty intuitive. Have a couple of tools for rarity opened on 2~3 tabs and individually look up the rarity for EACH NFT. As “logical” as that was, it didn’t give the best user experience to buy and sell.

Tools like trait sniper solved this pain point by allowing the users to view the rarity of NFTs in a collection ALL AT ONCE. A simple chrome extension. The user could look at the rarity ranking without going to the individual items page. Problem solved, right? Sort of. Based on the market data, just because an NFT is more “rare” doesn’t mean it will be higher priced. Hence, it doesn’t help in deciding whether or not it’s worth buying/selling an NFT on OpenSea. This is where NFTBank’s valuation tool for chrome extension comes in.

NFTBank Valuation Chrome Extension tool for OpenSea

Start your OpenSea experience with more insight, all at once! Just like how the chrome extension used by rarity tools like trait sniper shows the rarity of NFTs on the collections page, NFTBank’s Valuation Tool views the estimated price with the percentage of how much it is underpriced/overpriced on the collections page! Look at the collection in a single glance with your favorite trait!

NFTBank valuation tool on chrome extension has added different features to help position you to make the best decision in buying an NFT. Let’s go through each of them following the number.

Buying NFTs with more insight

Features listed lined with the number:

1. Click to find out more about NFTBank on our home page
2. Click to find out more about the wallet owner and their inventory on our home page
3. Gives you the estimated price of how much an individual NFT is worth AND how much it is overpriced/underpriced. (Take a look at the NFTs you can get at a discount!)
4. Gives you the confidence interval of our ML Model that provides the estimated price so that you have enough information to trust the estimated price model itself.
5. Gives historical price data to see how the individual NFT has performed compared to the collection floor over time. (Have a view of the current market condition of the collection to help you make your decision to buy!)

With this amount of information, you now know if you should buy the listed NFT and how much to offer for the NFT if it hasn’t been listed!

Download Chrome Extension Here

Selling NFTs with more assurance

The valuation tool will also help with the sell side. Users put up an NFT on OpenSea without listing a price and let the offers come in first. With the estimated price of your NFT on OpenSea, you’ll now be able to tell if the offers coming in are good deals or not! And if the offers don’t come near the estimated price, you have the complete knowledge to judge how much you should list the NFT.

Anyone can use our chrome extension valuation tool which shows the estimated price of NFTs on OpenSea so that he or she is able to buy/sell an NFT with more insight.

So what happens after you buy your NFT? How do you track the estimated price for what you own? Don’t worry. We’ve got you covered from buying an NFT to tracking it on our desktop page.

Check out our Desktop Page where we added a brand new update to help the NFTs that you buy AND as well as look for more opportunities to buy and sell AGAIN.

Here’s a short preview of our desktop:

• Discover page: Discover top NFT collections to buy, sell, AND borrow against.
• Collection Detail page: Dive into your favorite NFT collection’s analytics like estimated price distribution and many more.
• Item Detail page: Find out more about individual NFTs within a collection by comparing them side-by-side, down to the most specific detail.
• Portfolio: Track your NFT portfolio value — see how you’re doing in terms of gains/losses!
• Tax filing: Do NFT taxes safely and efficiently through our tax filing service.

If you’re new to NFTBank no worries! Check out our friendly NFTBank Guide giving you detailed steps on how to use our tools!

NFTBank Guidebook Part 1

NFTBank Guidebook Part 2

NFTBank Guidebook Part 3

NFTBank will continue to build infrastructure so that NFT holders and investors are given the best position to make risk-taking decisions like buying, selling, and even borrowing against NFTs with a lot more confidence. Stay tuned.

Download Chrome Extension Here:

Curious to know about our ML-estimate price model? Read about it in detail, written by our very own data scientists

methodology part 1:

https://medium.com/nftbank-ai/how-to-value-items-in-nft-projects-part-1-a87be8bcb21d

methodology part 2:

https://medium.com/nftbank-ai/how-to-accurately-estimate-the-price-of-individual-nfts-part-2-ac73e88aa3ad