Unlockd partners with Upshot
Unlockd partners with Upshot, the platform that provides deep insight into NFT markets. It also unlocks a wave of exotic new DeFi possibilities.
The world of NFT financialization is still uncharted territory, and NFT pricing discoveries will be closely linking to the success of lending and borrowing markets like Unlockd.
Upshot provides deep insight into NFT markets: their Machine Learning models ingest historical sales data and NFT metadata to construct features based on this information to generate accurate, reliable asset pricing. They validate the predictions by examining their accuracy on data not used in the training process and obtain error bounds by comparing their predictions to realized sale prices.
Both the predicted pricings and error bounds provide key information to the Unlockd protocol systems. They are building an NFT-backed lending and borrowing solution on top of the NFT economy.
Unlockd x Upshot: the first algorithmic component of its appraisal
Unlockd will integrate the Upshot solution into the appraisal process of an asset at the time an NFT-backed loan is requested. It will also be integrated into the system’s permanent data feed to track the price of the collateral and calculate its impact on the borrower’s health factor at any given moment.
With this partnership, Unlockd opens a new information channel to make its appraisal system more robust, which already includes crowdsourced data from Abacus (recently announced partner). Throughout the development of the protocol, Unlockd will continue to incorporate data sources. It is from reliable and leading partners in the NFT valuation industry.
By always taking into account different pricing from multiple appraisers they are able to design a robust system. Drastically minimizes the occurrence of a single point of failure. Besides, price data have constant update demand.
In order to perform this algorithm, Unlockd takes into account the error bounds provided by Upshot and other partners when concluding a final asset pricing
ABOUT Unlockd
Unlockd is the decentralized cross-chain protocol. It provides democratized NFT liquidity and utility for Art, DeFi, Metaverse, Real World, as well as Gaming. It also provides instant loans and enables seamless cross-chain borrowing and lending. With Unlockd borrowers can compound their wealth with NFT-backed loans while maintaining 100% of ownership perks.
ABOUT Upshot
The Upshot is a platform for deep insights into NFT markets. Unlocks a wave of exotic new DeFi possibilities through machine learning and crowdsourced appraisals.
RESOURCES
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