In a bid to facilitate real-time collateral appraisal for NFTs, marketplace, and wallet analytics, Nexo-backed MetaQuants, a provider of NFT solutions, has unveiled its algorithm product.
The alpha version of the new algorithm product is designed to aid NFT lending, market, overpricing, and market manipulation penalties, according to a press release shared with CryptoSlate. This thus makes the algorithm product suitable to Nexo’s upcoming non-custodial infrastructure.
MetaQuants, aided by Nexo’s financial and strategic investments, has, in recent times, been launching numerous solutions geared toward fostering transparency, accuracy, and risk management in the volatile virtual space.
Further, MetaQuants has recently started a funding round to raise funds capable of expanding its team and product offerings.
Worth noting, Nexo, as a leading regulated institution for digital assets, believes in a real-time mark-to-market NFT algorithm that offers efficient valuation estimates for assets that are vulnerable to market manipulation for its retail and corporate customers. Notably, the new solution by MetaQuants enables the execution of such a technique and may be embraced by Nexo.
Over time, the firm has been making efforts toward spreading its presence across Asia. In July, it signed a term sheet with Vauld, a Singapore-based blockchain startup, for a potential acquisition. In addition, Nexo has shown interest in acquiring assets Celsius last June due to the market conditions ravaging the crypto sphere.