MetaQuants, an NFT technology provider backed by Nexo, has launched a real-time appraisal algorithm for non-fungible tokens (NFTs), Invezz learned from a press release. The platform has optimized the alpha version of the product for NFT-backed lending, punishing overpricing and wash trading, a form of market manipulation.
MetaQuants originated from a data science hackathon and is the flagship project to be incubated by Nexo Ventures, a Web3 investment fund worth $150 million.
A grant and strategic guidance
Nexo has provided the team with a grant and strategic guidance, letting it transform the award-winning solution into an autonomous product.
Nexo, the pioneer of over-the-counter NFT lending, found a need for a mark-to-market NFT algorithm operating in real time. The algorithm they launched provides reliable estimates of illiquid asset value. This is very important because such assets are vulnerable to market manipulation.
Support for Nexo’s non-custodial infrastructure
MetaQuants’ solution might support Nexo’s upcoming non-custodial infrastructure depending on how the project’s backtesting results look. This includes a self-served NFT lending product.
Building top-quality risk management tools for NFTs
MetaQuants, who are raising funds for a seed round at the moment, are focused on developing top-quality NFT assessment and risk management tools. One can use the full-scale product to appraise all kinds of NFT assets in real-time, analyze markets and wallets, and provide management estimates of NFT portfolio assets.
On a mission to improve accuracy and transparency
MetaQuants’ solutions aim to bring further accuracy, transparency, and risk management to a volatile and unpredictable space. Their flagship products include a Collection Floor Price Oracle, an NFT Pricing Algorithm, and an Analytics and Risk Management Platform.
[ad_2]
Image and article originally from invezz.com. Read the original article here.