MetaMask Deploys NFT Portfolio Value Tracking with New Partnership

Thanks to a recent partnership with NFTBank, a new MetaMask wallet utility will allow users to track the value of their NFT collections.

MetaMask users will now have the ability to track the value of their non-fungible token (NFT) portfolio through its latest product. The wallet provider announced a new feature on November 2, which will bring updated pricing information for the over 5,000 NFT collections owned by MetaMask users.

The new utility is the result of a partnership with NFTBank, an NFT portfolio management tool and valuation engine. To create its predictions, NFTBank uses machine learning algorithms that update users with price estimates for individual NFTs within a collection.

According to the announcement, the algorithm takes into consideration parameters such as price floor, scarcity, and supply/ask distribution when calculating a price value. The tool is said to offer price predictions with an accuracy of around 90% and above.

Daniel Kim, CEO of NFTBank, said the current state of the market and volatility makes understanding prices even more crucial.

"The need to understand the appropriate price of NFTs has become increasingly evident, with many learning the hard way about the dramatic volatility in NFT markets."

New wallet value product arrives as MetaMask continues to expand its capabilities in the Web3 space.

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