How do you determine the fair price of a digital asset? This is a common question that always crosses the mind of every investor who participates in the marketplace of decentralized digital assets. Especially in the case of NFTs, determining a fair value is much more tricky than it’s in the case of other digital assets. In all the stories of tweets or GIFs or simple images being sold for millions of dollars, the question of fair value becomes every bit as important as it has to be.
In such a situation another question comes to mind…. Wouldn’t it be great if there was a way to easily arrive at the fair value of any asset? Fortunately, now we have a way to do that, and here’s what it’s called: Liquify!
bitsCrunch Liquify: The Fair Value Estimator for NFTs
Liquify is a valuation tool developed specifically for NFT marketplaces. It aims to estimate the fair value of any digital asset by taking into account the right type of valuation models depending on the nature of the asset. It has already developed valuation models for CryptoPunks and Axie Infinity, which are two of the most well-known collectionsmarketplaces in the NFT ecosystem. Models for other collectionsmarketplaces are also under development, and may be integrated anytime in near future.
German blockchain startup bitsCrunch came into existence in May 2020. The goal of the company was to fix 3 major issues that plague the NFT ecosystem: unfair valuations, asset forgery and wash trading. The issue of unfair valuations is already being solved by Liquify, but they have two other products for solving these other problems as well.
Those products are:
- Scour: Fixing the issue of wash trades by identifying manipulations in the price and volume of NFTs.
- Crunch Da Vinci: Fixing the issue of digital asset forgery by identifying assets on the basis of key features that help distinguish them even after multiple manipulations and changes.
As you can see for yourself, together with these projects bitsCrunch is developing a portfolio of solutions that can establish it as the guardian of the NFT ecosystem. That’s what makes it one of the most special projects for the NFT economy. That’s why you or any other serious NFT investor should pay special attention to this project – it will be worth it in the long run!