CoinShares has launched a Twitter bot to help NFT investors.
The asset manager announced the launch of the Twitter bot CoinSharesNFTAI. With this step, the company aims to reduce NFT fraud activity on Twitter.
CoinShares Will Use Twitter Bots For Good
Twitter users can use the CoinShares bot to see the affordable price of their preferred NFT.
The company said it can be difficult to price NFTs, although some features are easily measured.
CoinShares’ goal of launching the bot is to bring more transparency to the space. The CEO of the company, Jean-Marie Mognetti, used the following statements in a statement:
“NFTs are the newest assets to come to the crypto market. That’s why it’s important for everyone to feel comfortable when trading. For this purpose, we have opened our CoinSharesNFTAI Twitter bot, which is the NFT pricing algorithm, to the use of people.”
According to testing by The Block, the bot noted that the fair value of Bored Ape Yacht Club 7378 is around 95 ETH. However, the actual price is currently hovering above 75 ETH.
This difference can be explained by the decline in crypto prices and the depreciation of NFT assets.
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