Data Aggregation Is Much-Needed in NFT Market
January 12th, 2022

“Quantitative analysis” may sound complicated and disheartening, especially to those online newcomers, but behind its seemingly high entry barrier, data is a useful tool that can be gathered, organized, and translated for everyone’s decision-making and strategies.

Data aggregation, therefore, is all the more important, and data aggregator, accordingly, deserves more attention. Simply stated, all who aim to share profits in a certain niche market need to equip themselves with a “data quotient”, learn what they can gain from it, and understand how it relates to their field.

To peer into the significance of data, we can divert our attention to the impregnable position CoinMarketCap, a most-referenced and trusted price-tracking website in the crypto world across the globe, now occupies. Almost since the birth of cryptocurrencies, the platform has been enjoying its advantageous position by providing data, knowledge, and information concerning digital currencies. To purchasers, holders, and speculators of crypto assets, CoinMarketCap serves as a gateway into the cryptocurrency (FT) world, and a default source of quality and up-to-date information, relying on which they examine market conditions, predict market trends and make sensible decisions.

While in the NFT world, a fledgling niche market, such a powerful aggregator is absent, which partly explains why it is embedded issues as follows remain unresolved.

  • Difficulty in accurately valuing NFT projects and assets
  • Lack of accessibility to the dynamics of the NFT market and relevant data for investment
  • Inability to readily identify NFT assets that meet users’ needs
  • High transaction costs and low liquidity of NFTs

Given the above downsides, the NFT market is all the more badly in need of a platform that aggregates data in an accurate, timely, unbiased, and efficient way.

What Can Data do in NFT Ecosystem

1.Grasp the overall situation

With an increasing number of decentralized NFT projects, the lack of interoperability and data-sharing mechanisms remains to be an obstacle for individuals to get a big picture of the overall ecosystem. Given that, good data aggregation needs to be designed to get cross-chain, -platform, -project and -dimension information so that users can measure, predict, set goals and make decisions based on reality.

2.Develop active, informed decisions

NFT-related data can empower people to develop active and informed decisions backed by statistical, reliable evidence, instead of fuzzy, abstract estimation. The unpredictable nature and low liquidity of the NFT marketplace, of course, won’t be solved by data collection, but it can visualize market conditions through numbers, rankings, or tables to let people better their prediction on purchase and investment and to maximize their ability to respond to the challenges before they evolving into a full-blown crisis.

3.Cultivate strategic mentality

Strategic thinking on NFT purchase and investment based on effective data gathering and analysis can be developed into a mentality and benefit people throughout life. NFT market is never absent with hype: artist Beeple’s “Everyday” auctioned off for $69.3million; musician Grimes earned $6 million from its NFT bundle; the naming rights of a song of music producer 3LAU sold for $1.33 million…Numerous speculators flood into the NFT market daily driven by such extreme market trends. While to sustain sound growth in NFT assets, they need to look through such hypes and train their data mentality to interlink isolated information, analyze situations in an unbiased fashion and deploy their resources rationally. Such strategic thinking mode will increase their business efficiency in the long run.

Due to the downsides of the NFT market and the merits of data aggregation, NFTGO is launched to be a professional NFT data aggregator that provides users with accurate, quality, and extensive information in the NFT field.

The Gateway to the NFT Ecosystem

Simply put, NFTGO serves as a gateway to the NFT marketplace. It positions itself as a professional and user-friendly data provider and assets provider for NFT ecosystems with the most comprehensive quality information and lowest entry barrier, facilitating the popularization, promotion, and trading of NFT assets.

Five Highlights:

NFTGO offers its key solutions to current problems regarding NFT by offering visualized and aggregated data, acting as an asset search engine, and providing insights into assets evaluation.

1.Visualization of Market Data

NFTGO collects and visualizes real-time data on NFT trading and asset across the network catering to users’ needs, through which users can gain a comprehensive understanding of NFT market trends, and optimize their NFT purchase and investment decisions.

2.Ranking Lists

NFTGO also provides the latest rankings of assets, collections, holders, and whales based on its aggregated data to

  • Discover high-value NFT projects and assets;
  • Track NFT whales;
  • Assess the investment value of NFTs and NFT tokens;
  • Shed light on the NFT positions of users across the network.

3.Asset Search Engine

Instead of NFT Amazons, like OpenSea, Nifty Gateway, etc., an NFT Google may be much more needed currently. Therefore, NFTGO aggregates high-quality NFT assets across the network and builds an index based on their metadata. NFTGO allows users to search for NFT assets in one unified platform, bettering their exploration of the NFT world more conveniently and efficiently.

4.MarketPlaces Aggregator

With the emergence and increase of decentralized NFT trading markets and lack of interoperability between different platforms, users have a greater demand for a platform that collects and shares NFT trading information and empowers them to quickly buy and sell NFTs accordingly.

Therefore, besides an asset search engine, NFTGO is also equipped with cross-platform trading information aggregation. The function can enable its users to get in-depth, comprehensive information on NFT trading, and, more importantly, to get a better purchase experience with greater accessibility and efficiency.

5.NFT Evaluator & Oracle

NFTGO could help users to evaluate their NFT assets. Currently, the value of NFT assets is largely defined based on historical transactions, which are, as mentioned above, more often than not much-hyped and lagging. Besides, it can neither offer effective means to assess newly issued NFTs. Thus, NFTGO offers its value evaluator backed by numerous data it has collected and analyzed, offering better guidance.

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