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Friday, February 3, 2023

NFT Rates Traders’ Performance

Collectors’ wallets are the best way to collect, store and trade NFTs, but they also have some limitations. The NFT Market cap platform has been one of the pioneers in this space. Now, with its new sister site called NFT Index which launched just last week, it’s giving collectors a new tool to better understand themselves and others in the marketplace.

The NFT Index is a new website that grades the trading performance of collectors’ wallets. The platform is currently in beta and plans to make its services free for its first 100 users.

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The idea behind the project is to provide an easy way for collectors to track their NFT collection and ensure they are making the most money possible out of it by selling their tokens at the right time.

NFT Report Card

Even though many people are not familiar with blockchain technology or cryptocurrency, they might have heard about collectibles like CryptoKitties or Rare Pepe cards before. These assets bring an interesting element into crypto as they can be bought and sold on secondary markets just like any other asset class (stocks, bonds etc.). However, while stocks have been around since VOC was founded nearly 400 years ago, crypto collectibles have only existed within this decade.

The beta version of the platform is currently in development and plans to make its services free for its first 100 users. Once it reaches a certain level of maturity, however, fees will be introduced for advanced features such as portfolio analysis tools and automatic trading bots.

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CEO Veli-Pekka Kokkonen told sources that they plan to give out the “trading performance grades” based on metrics like total profit, loss rate, number of trades per day or month etc., which will give them an idea about how good a trader you are.

At any point in time after accessing your portfolio through their service portal (which you can sign up for here), Tinderbox will grade your performance based on these metrics and offer suggestions for improvement if needed (such as changing funds).

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