MetaMask’s latest innovation will permit its users to see the value of their NFT portfolio. The wallet provider announced the new feature on November 2. Users will be able to see the current pricing information for the more than 5,000 NFT collections held by MetaMask users.
NFTBank, an NFT portfolio management tool and valuation engine, has partnered with to develop the new utility. Using machine learning algorithms, NFTBank updates users with price estimates for individual NFTs within a collection.
The tool allegedly provides around 90% accuracy price predictions based on floor price, rarity, and bid/ask distribution.
Daniel Kim, CEO of NFTBank, believes that the current state of the market and its volatility make understanding the prices even more critical.
“The need for understanding the appropriate price of NFTs has become ever more clear with many learning the dramatic volatility of NFT markets the hard way.”
“Many have experienced the dramatic volatility of NFT markets the hard way as the need for understanding the correct price has become ever more clear.”
MetaMask’s Web3 capabilities continue to grow as the portfolio value product comes out.
MetaMask, a blockchain software firm, is planning to spend $2.4 million annually on the MetaMask Grants DAO, which will allow outside programmers to create applications within the ecosystem. In order to issue grants to outside programmers, MetaMask employees will lead the DAO.
MetaMask also announced another wallet feature for its institutional portfolio tracker just weeks before the announcement of the feature. In partnership with Cobo NFT management, it debuted new custodial features for NFT institutional investors.
MetaMask Institutional also said it is exploring improving education and information available to users before interacting with the platform
