Innovators utilize .xyz domains in the realm of digital assets, NFTs, and the blockchain ecosystem. NFT payment solution NFTpay.xyz is focused on swift NFT purchases with a credit card. NFT platform Cohort.xyz aims to revolutionize the way brands interact with and retain their customers. Collectible trading card platform Alt.xyz offers buying, selling, storing, and borrowing options. In this week’s #BlockchainThursday, we’ll introduce you to a blockchain protocol geared towards NFT appraisals and streamlining NFT market operations: Upshot.xyz.
Upshot.xyz is the online home of Upshot, a platform that provides real-time NFT appraisals using advanced machine learning models. Upshot enables end users to explore and understand the value of NFTs while facilitating integration with DeFi and NFT applications. The New York-based company uses machine learning algorithms to develop a system for NFT appraisals, which serves as the foundation for its broader suite of tools. Upshot’s tools are designed to streamline NFT market operations, encompassing areas including NFT lending, Automated Market Makers (AMMs), and indexes. Upshot aims to contribute to the evolving landscape of digital assets and the broader NFT market. In June 2023, Upshot announced “Upshot Indexes,” a feature assisting investors in tracking NFT market performance.1
“Upshot Indexes” is a feature that helps NFT projects use Upshot’s API more effectively. Through this feature, project creators can create financial solutions based on indexes. Like traditional financial indexes, these allow users to monitor a group of assets, such as NFTs. Upshot Indexes employ a method that values assets by their market cap, which comes from Upshot’s machine learning NFT evaluations.2
Another notable Upshot solution is the “GMI,” or the wallet grading index. This tool serves as a metric for newcomers and seasoned investors, and is designed to track influential NFT investors. Upshot also offers an updated alerts feature, which is geared towards providing real-time updates on various activities in the NFT market, such as changes in the minimum price of NFTs and significant investments. In volatile market situations, GMI, in tandem with the alerts, is designed to help users make informed trading decisions.
Nick Emmons, co-founder and CEO of Upshot, previously held the position of Lead Blockchain Engineer at insurance provider John Hancock. Within the company’s LOFT (Lab of Forward Thinking), Nick oversaw blockchain projects, forged tech and finance partnerships, and collaborated with executive leadership on blockchain integration. In a 2021 interview, Nick explained his interest in providing security and trust for NFTs. “The ability to reprice these assets and have this constantly updating notion of what these things are worth becomes increasingly important. With marketplaces like OpenSea, as I’m scrolling through, it creates a chilling effect to have this looming notion of doubt or fear that I’m overpaying for something. Or when a time when it comes time to sell something, not knowing what price to list it at or if I’m selling it at the right price.”3
Upshot is harnessing the potential of the .xyz domain extension as the go-to ending for the next generation of internet users. With a focus on catering to the evolving preferences and interests of the modern digital landscape, .xyz has developed a thriving community of forward-thinking individuals, ranging from AI enthusiasts and web3 pioneers to NFT aficionados. By embracing the .xyz domain, Upshot positions itself as a standout platform in the digital landscape and celebrates the boundless possibilities that it symbolizes.
We are inspired by Upshot’s efforts in blockchain development and are happy to have them in the .xyz community of innovators. You can learn about each of Upshot’s solutions by following the platform on Twitter and LinkedIn, and by visiting Upshot.xyz.
XYZ is proud to share about the many incredible members that make up the XYZ community! We encourage you to do your own research before using the products and services of the websites we feature. The information about products and services contained in this blog post does not constitute endorsement or recommendation by XYZ.