Unlockd, the decentralized, cross-chain protocol that provides NFT liquidity while keeping ownership utility, is thrilled to announce our partnership with Ginoa, a data provider that offers AI-based asset valuation for the NFT economy.
NFT investing is an emerging industry that faces several challenges to achieve mass adoption.
One of the key roadblocks is price discovery and appraisal, which not only influences the activity of users buying and selling, but is a critical element for the stability of protocols that depend on the reliability of this data.
The Ginoa team realized that while buying and selling NFTs, people were having difficulty making intelligent decisions due to the limited data. Lack of information, overpricing, fraud, liquidity, and high gas fees are some of the problems that make it difficult for collectors to invest in the right liquid collections.
To solve this, Ginoa is working on ways to fix this problem through Artificial Intelligence depending on “fair price” algorithms. Now, even people who have never joined the crypto community can gauge the significance of NFT pricing thanks to Ginoa, a social project created by several developers who have believed in and developed a vision for the NFT community and its works since 2017.
Unlockd shares their vision of providing transparency and data integrity, and we believe that preventing fraud and overpricing are key to the long-term sustainability of the industry.
Together, we will make these features not only apply to investors and collectors but will be part of the fundamental systems of the future of NFT financialization.
Amazon’s Artificial Intelligence joins the Unlockd system.
Unlockd will integrate the Ginoa 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.
Ginoa uses on-chain tracking to scan the market, screening for fair price information, identifying the most liquid products, and eliminating the risk of scams, counterfeit and unsuccessful projects with low volume.
With the data they collect, Ginoa trains AI models based on Amazon AWS architectures, which gives them unparalleled reliability and scalability — leveraging Machine Learning models whose performance is among the best in the industry.
This happens in a fully synchronized manner, connected to the main network, providing buyers and sellers with a fair appraisal and directing it to the market where these products are traded. Ginoa currently supports 5 collections and are quickly expanding their reach.
Ginoa presents an ambitious roadmap and wants to leverage Artificial Intelligence systems until they can eventually provide a ‘barterplace’ and a fully-autonomous NFT trading service with the objective of helping reach mass NFT adoption. Additionally, Ginoa will lead users to swap their items — eliminating irrelevant offers and high gas fees.
Unlockd x Ginoa: A partnership to grow the NFT x DeFi ecosystem
At Unlockd we want to continue working with the most avant-garde projects in the NFT valuation industry to build the ecosystem together.
We know this will require constant experimentation and working with experienced partners that bring the technical know-how, iterating together our solutions with permanent feedback exchange.
There is a world of possibilities for both projects; we at Unlockd are eager to see how we can combine some of the exciting initiatives that Ginoa has planned — like their barter place, where users will be able to directly swap their NFTs by using smart contracts.
Another opportunity as part of this long-term partnership will be studying the integration of our solution to support Ginoa’s Pawn D’application, where users are able to either pledge their relevant NFT & Metaverse items or gain interest according to Ginoa's credit score — which is in their future plans.
Additionally, this service will include a factoring solution through which users will be able to sell their NFTs and receive Ginoa tokens immediately — opening the gate to improved liquidity.
At the end of the day, both projects are deeply focused on providing more opportunities to users and allowing them to utilize their capital better.
For this capital efficiency to be the backbone of finance strategies that include NFT liquidity, it is essential to work on sustainable systems that leverage data reliably and efficiently.
Interested in knowing how this partnership fits into Unlockd’s complete appraisal process? Soon you will have available an extensive article in which we will explain all the details of an asset valuation when you request a loan with us. Stay tuned!
Unlockd is the decentralized cross-chain protocol that provides democratized NFT liquidity and utility for Art, DeFi, Metaverse, Real World and Gaming.
Unlockd 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.
Ginoa is a social project created by a team of experienced developers with the aim of fixing the main problems users experience while buying and selling NFTs.
To solve these problems, they have built a set of tools using artificial intelligence depending on “fair price” algorithms. Their goal is to incorporate Artificial Intelligence and provide a Fully-autonomous NFT trading service