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The Evaluation Process
What do we know about NFTs?
NFTs have tons of attributes (generative art). πŸ–Ό
While marketplaces show us floor prices for every collection listed, and all the sales records are available in transaction history. πŸ“ˆ
Thus, the easiest way to evaluate the price for NFT is to take Floor Price as a base. Eventually, any NFT from the collection is worth the Floor Price. πŸ’΅
But is it satisfactory for the owner of rare NFT? I think - no, ser. Don't wanna borrow 1 Sol against my NFT which is rare and worth 100 and has been sold several times for much more than 1 Sol! πŸ˜‘
So how to properly evaluate items within any collection? This is where we look for real-world asset evaluation and best practices. And the best possible way is to code something automated - an AI system... 🧠
The more data you have, the more precise are AI/ML systems. 🦾 Taking into account: rarity of the attributes, historical data on Solana, marketplace listings and bids, currency rates from AMMs and even social activity!
For now, we have already mined a huge dataset and have been testing this approach for a while. And you know what? It works. Stay tuned to get the sneak peeks and to know more about our future Pawnshop! πŸš€
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