Title: "Valuation of NFTs Made Easier with This Tool"
NFTs have become a versatile and widely adopted asset class. Besides granting owners privileges like access to music festival tickets, early game experiences, or community memberships, NFTs also serve as assets themselves.
Here's a dataset illustrating the prices of the top 10 NFT collections based on transaction volume from January 2022 to September 2022.
Source: DappRadar
Despite ETH prices dropping by 72% since January 2022, this data highlights that top NFT collections can sometimes store assets more effectively than even leading cryptocurrencies by market capitalization.
However, not every collection guarantees asset storage. Apart from those mentioned above, many collections have been completely wiped out, with NFT collection values potentially dropping to zero.
Three Tools for NFT Enthusiasts
Given the potential and risks, valuing NFTs accurately is crucial. Yet, pricing NFTs remains challenging due to the market's novelty.
In this article, Gamefinity guides readers on valuing NFTs using NFT tools available on DappRadar.
These three tools provide substantial support throughout the investment process:
- NFT Value Estimator Tool
The NFT Value Estimator allows users to accurately estimate the current value of 68 top NFT collections on the Ethereum network. For example, a search for 'NFT Cool Cat #7710' on OpenSea listed the NFT for 3.3 ETH ($4,488). However, using the NFT Value Estimator, the estimated value returned was 2.87 ETH, accompanied by a 'Good!' rating. Leveraging DappRadar's extensive data, this tool continuously calculates NFT values using algorithms.
- NFT Explorer Tool
With the NFT Explorer tool, users can search for collections in three ways:
- Use the search bar to find a specific NFT by its ID number.
- Sort collections based on estimated selling price or final price.
- Filter collections based on NFT metadata.
- NFT Investment Portfolio Tracker Tool
The NFT Investment Portfolio Tracker enables users to monitor their own or others' NFT wallet activities, providing detailed insights. For instance, searching for the wallet of a prominent figure like 'TreySongz.eth' returned:
- Total NFT asset value: $53,351
- Total Ethereum collections: 110
- Total NFTs on Ethereum: 279
Tracking transactions of key figures provides valuable information for making investment decisions.
Conclusion
While no NFT valuation tool is perfectly accurate, the tools mentioned above serve as invaluable aids for managing and making informed investment decisions. Through this article, Gamefinity aims to provide readers with useful insights into NFTs and how to utilize supporting tools to navigate this new frontier of NFTs.
