2.2.3. NFT Price Evaluation

The correct estimation of an NFT asset’s price plays a key role in our technical approach. To achieve this goal, our team uses artificial intelligence with historical data from open ledgers, such as previous transfers, transfers of owners, and so on. We also include evaluation of the NFT creator’s popularity and the NFT’s growth on social networks, search engines, and other resources. To build a mathematical model which can correctly ascertain the price of assets, we use machine learning algorithms that utilize unsupervised learning, ML algorithms or regression algorithms. Currently, this solution is being applied to training data collected from data brokers and ledgers. We will not go live with this approach until it is tested and audited, to prevent vulnerabilities and hacks. Price oracles are a critical, but often overlooked, component of DeFi security, but safely using price oracles is hard and there are plenty of ways to shoot yourself – or, worse, your users – in the foot. Further details about our asset estimation solution will be included later.