NFT – three letters that have been spinning the world of crypto, art, and finance. NFTs sales volume reaches $2.5 billion in 2021’s first half. NFTs are now part of internet culture and have the potential to be a financial tool.

NFT values are on the rise and investors want to know how to decide the value and price of an asset so they can get the best possible return. NFT markets are still in development and face significant difficulties providing liquidity, monetizing assets, as well as evaluating them.

AI implemented first

NFT-related financial services, such as NFT collateralized loan, are now available on the market. However, it is not possible to accurately evaluate NFTs. For all NFT collateral solutions, accurate evaluation is essential.

TrustNFT is a marketplace and decentralized NFT loan. It aims to make it possible for NFTs to be safely used as collateral in loan loans. This platform uses breakthrough AI technology and Big Data to provide a trusted way for NFT to be evaluated.

“There are companies in the market working with finance and NFT, but no company does that with the help of AI. Some AI solutions for crypto trades can be used to forecast the future crypto asset prices, but they are not specifically designed to deal with NFTs. NFTs price depends on rarity and current status in the market and of course many other factors,”
TrustNFT’s CTO, Mantas Mackevicius.

The company created the NFTs Evaluation Machine Platform. It uses data not just from blockchain, but is also constantly learning how to identify trends in NFT markets and crypto markets in general.

TrustNFT founders believe that everyone can use NFTs to secure loans and collateral. TrustNFT will facilitate instant liquidity and precise pricing of the NFTs. It will also increase portfolio variety and offer new markets with DeFi applications.

The importance of the community

Traditionally, the community’s role in NFT loan marketplaces is to evaluate NFTs by voting. TrustNFT is an AI-powered platform that automates this process. The community should not be ignored.

TrustNFT CTO says that AI can be complex, and that it requires lots of data. This is why the crucial role of the community to provide the necessary data will remain.

As a DAO (decentralized autonomous organization), community voting will work. Each NFT can be voted on by the community, which will allow it to be added into the data sources of the AI.

“The community will have a vote, and that is because we want to build the system together with all stakeholders involved. The community will be engaged in deciding on the need for the specific features,”
said Mackevicius.

Future of NFT

Some worry that NFT is heating up. Mackevicius thinks it is normal for all new technologies to face doubts, and that they will need widespread acceptance. While NFT may still be new, Mackevicius sees many opportunities that can’t be tapped by the technology.

“I believe NFTs will come as normal digital assets in every new platform, Google (NASDAQ:) and so on. Even though I am a big believer in the gaming sector, the financial industry has used it in specific roles at banks. So this is a matter of time,”
CTO.

Mackevicius expects market volatility, but believes there is another hype in the near future. Vismantas Mottiejunas is happy about TrustNFT’s solution and when the project launches.

“Our vision is to become main providers of NFT loan services in the world because I do believe that our solution with joining an AI will be unique. So my vision is to be the biggest marketplace for decentralized loans using NFT as collateral in the world,”
says Motiejunas.

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