CoinShares Launches Twitter Bot for NFT Investors

Crypto asset manager CoinShares has launched a helpful Twitter bot for NFT investors.

On Thursday, CoinShares announced the launch of a Twitter bot called the 'CoinSharesNFTAI.' According to the functionality of the Twitter bot, CoinSharesNFTAI would help NFT investors predict a 'fair price' for any NFT listed on Opensea.

The Twitter bot would assist NFT investors on Twitter to filter the uncertainties in the NFT space and know how much an NFT might be worth with just a single tweet. To activate the bot, users would have to make a tweet with an Opensea link of the NFT they would like to check and then mention the bot (@CoinSharesNFTAI) in the tweet.

In the announcement, CoinShares stated that Pricing NFTs could be a difficult task, especially as their value is volatile and millions of them are available on the market. 

"Building on our crypto and quantitative expertise, we came up with an experimental project to price NFTs, whether you own them already or not. This model relies on tested mathematical concepts to predict a fair price for any NFT currently listed on @opensea," said CoinShares in the announcement.

The bot predictions are based on identified factors such as hype, rarity, utilities, content, and products, as well as transaction volume and history of an NFT project.

CEO Jean-Marie Mognetti said in a release, noting: NFTs are one of the newly discovered digital assets in the crypto industry today, and it's essential that everyone should feel comfortable while buying and selling them. He added, "To this end, we made our proprietary NFT pricing algorithm available to the public through our CoinSharesNFTAI Twitter bot."

CoinShares is a Europe-based digital asset investment and trading group pioneered in innovative financial products and services for the crypto industry.

In the firm's recent news, CoinShares announced its intention to launch an algorithmic trading platform, HAL, for retail traders. The platform will provide retail traders access to a range of algorithmic trading strategies for $20 per month.