Upshot Releases Appraisal API to Provide Developers with Real-Time NFT Pricing

Developers now have access to accurate, real-time appraisals for over 50M NFTs, powered by advanced ML models

NEW YORK–(BUSINESS WIRE)–Upshot, the leading NFT appraisal platform, today announced the release of its API to deliver real-time NFT appraisals for developers. Brands and their users will now have access to the data behind the largest and most accurate NFT appraisal platform, with pricing for more than 20,000 collections and standard-setting median absolute percentage error (MAPE) of 5 to 10 percent for their most accurate appraisals.

Bringing real-time, accurate appraisals to the market has the potential to significantly increase efficiency in the NFT space, allowing for more robust integrations of NFTs into new DeFi primitives. Whether it’s a marketplace, wallet, portfolio tracker or any other product that touches NFTs, developers can now provide businesses with real-time, accurate insights into what their users’ NFT collections are worth. This reliable pricing layer is also necessary for many of the most exotic DeFi x NFT primitives to be built, with the intersection of DeFi and NFTs poised to become a larger market than DeFi or NFTs on their own.

“Our team has been hard at work over the past few months and it’s thanks to this hard work, and the team we’ve assembled, that we are now able to appraise so many NFTs with such high levels of accuracy,” said Nick Emmons, Upshot Co-Founder & CEO. “By achieving this feat, we’ve made our API an attractive option for leading marketplaces and brands in the space. We’re excited to provide developers and users with the real-time appraisals and insights needed to unlock exotic new primitives and kickstart a wave of new innovation in the NFT space.”

Given the current state of the market and decrease in NFT transaction volume, the need for reliable pricing mechanisms is more important than ever. By utilizing appraisals, which are price-discovery mechanisms that can function even when NFTs aren’t exchanging hands, users can access the pricing and insights that allow them to hedge against NFT risk in their portfolio and capture value from NFT holdings in more ways than simply flipping them in a bear market.

“Developing a single, global pricing model for the NFT market will be crucial to unleashing the most exotic DeFi x NFT primitives and providing a more informed path forward for NFT investors,” said Orestis Tsinalis, Head of Data & ML at Upshot. “Upshot is making this a reality that will further showcase our expertise within the market and allow us and others to build innovative and powerful new financial primitives ourselves.”

Upshot’s API is available for anyone to use now and is the easiest way to bring real-time NFT price feeds to different teams’ users and new DeFi primitives. To find out more, please visit https://upshot.xyz.

About Upshot

Upshot is the leading NFT appraisal platform. By delivering the most accurate appraisals in the market, Upshot enables the creation of solutions at the intersection of decentralized finance (DeFi) and NFTs – for the industry and themselves. Upshot Analytics is a powerful application of the platform that gives end-users easy access to unique insights around the NFT market and allows for some of the earliest financial primitives being built at the intersection of DeFi and NFTs. It is currently in private beta and will be available to the general public soon. The Upshot API is currently available and being used by teams across the industry. You can learn more about Upshot, its capabilities and sign up for the Beta at https://upshot.xyz/.

Contacts

Nick Emmons

[email protected]