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June 17th, 2022

Upshot Is Now a Data Provider on the Chainlink Network, Helping Bring Premium NFT Analytics to Smart Contracts

Upshot x Chainlink
Upshot x Chainlink

Upshot, a leading provider of NFT analytics, is becoming a data provider on the Chainlink Network—the industry-leading decentralized oracle solution. Through Chainlink, we’ll be able to provide our analytics data, which includes live appraisals of top NFTs, NFT market caps, price floors, holder information, and more, to smart contracts, unlocking a wave of new DeFi possibilities.

dApp developers are now able to leverage Upshot’s NFT analytics to support them in building a wide range of smart contract use cases that rely on high-quality NFT data feeds, such as decentralized prediction markets, lending/borrowing platforms, options and futures contracts, yield farming products, and more. Our first user is nftperp.xyz, a perpetual futures DEX that allows users to long or short the floor price of NFT projects such as Bored Ape Yacht Club (BAYC).

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May 13th, 2022

A new grading index for NFT wallets. Check any wallet here.

based god gmoney
based god gmoney

Upshot gmi is a single powerful number that helps identify high performing wallets and provides novel insight into the future of metaverse identity & reputation. Complex questions like, “should we lend to this wallet?” or simple ones like “are they gonna make it?” can be quickly and confidently answered through Upshot gmi.

For our nascent space to mature, we need two crucial components: accurate asset pricing and persistent reputation. Conveniently, both numbers contribute reciprocally to the other’s accuracy. One of the nuanced and critical problems we face while producing the most accurate NFT pricing is grading the various parties across transactions. Consequently, we’ve been exploring ways to quantify different wallets and their activity within the NFT space for some time.

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April 14th, 2022

The blockchain-based, machine learning-powered NFT appraisal platform raised a $22M Series A2 round last month to fund R&D at the intersection of NFTs & DeFi

NEW YORK--(BUSINESS WIRE)--Upshot, a blockchain-based protocol providing industry-leading non-fungible token (NFT) appraisals, today announced the hiring of Orestis Tsinalis as Head of Data & Machine Learning. Tsinalis will report directly to CEO Nick Emmons and will be responsible for leading Upshot’s growing data and machine learning teams, as well as improving the company’s ML models to deliver real-time NFT appraisals for the market.

Prior to joining Upshot, Tsinalis served as Head of Quantitative Research and as a Quantitative Trader at GHCO - one of the fastest-growing liquidity providers specializing in ETFs. While at GHCO, Tsinalis built and scaled pricing models for the company’s global ETF book, developed new strategies for trading crypto ETPs, coins and futures, and built the ML infrastructure for backtesting high-frequency trading strategies. Tsinalis also served as the Principal Data Scientist at abrdn, a top-five UK asset manager with over $600b in AUM. There, he led the company’s central Data Science team, successfully built out natural language processing-based signals, ML models for accounting fraud detection and company fundamentals prediction, and NLP-based searches for news, transcripts and reports. He received his Ph.D. and MSc in computer science from Imperial College London.

"It’s incredibly exciting to be joining Upshot at this stage of their rapid growth as the reality of bringing high-quality NFT appraisals and analytics to our community edges closer,” said Tsinalis. “NFTs are financial instruments with immense potential to transform our economy, and Upshot is uniquely positioned to become the backbone of this new wave of NFT-based DeFi applications.”

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April 1st, 2022

(If you are not already on the allowlist, sign up on the waitlist)

If you’re a first time user of Upshot Analytics Beta, we wanted to point out a few ways to get maximum value from the tools and hopefully enhance your experience getting to know the product. There are four major areas of focus in this quick intro: charts, finding deals, trait level analysis search/discovery, and collector pages.

Charts

The first thing you will see on the Analytics homepage is a collections chart that allows you to select and compare up to 5 collections at once across weekly volume, floor price and average price. To change the selections simply click on the collection names in the table below the chart or use the (x) next to collection labels on the chart.

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March 24th, 2022

We’re excited to introduce Upshot Analytics Beta - the dashboard for NFT data, live appraisals and analytics. Upshot Analytics is your informative sidekick for exploring the NFT market.

Upshot: where NFTs meet DeFi
Upshot: where NFTs meet DeFi

NFT data today is often lackluster and spread out across a variety of websites and tools. With Upshot Analytics, you can now explore the NFT market in one place and get access to data often missing from existing tools.

Analytics allows you to discover top NFT collections, spot emerging trends, and dive deeper into the price history of individual NFTs. Whether you’re browsing Bored Apes or Art Blocks, Analytics not only gives you deep insight into market data, but provides accurate, up-to-date NFT appraisals for a wide variety of top collections.

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March 22nd, 2022

Blockchain-based, machine learning & crowdsourced NFT appraisal platform aims to become the appraisal authority of the digital asset world

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January 18th, 2022

The final installment in our blog series exploring the use of machine learning to accurately price NFTs. You can read the previous entry on determining what matters for NFT valuation here.

NFT pricing in volatile and fast-moving markets

CryptoPunks are one of the most popular NFT projects, and also one of the most dynamic. We need to be able to respond to changes in the market quickly. But how do we use machine learning models to accurately price CryptoPunks in volatile markets?

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December 21st, 2021

The third installment in our blog series exploring the use of machine learning to accurately price NFTs. Over the last few weeks, we’ve been diving deeper into how we use machine learning and crowd intelligence to generate automated and up-to-date NFT pricing, why machine learning models are important to achieve reliable valuations at scale, and much more.

You can read the previous entry on taking NFT pricing to the next level with machine learning here.

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December 8th, 2021

The second installment in our blog series exploring the use of machine learning to accurately price NFTs. Over the next few weeks, we’ll be diving deeper into how we use machine learning and crowd intelligence to generate automated and up-to-date NFT pricing, why machine learning models are necessary to achieve reliable valuations at scale, and much more.

You can read the first entry in the series on how NFT pricing can increase NFT adoption here.

Comparing NFT pricing using last price, moving averages, and machine learning

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November 25th, 2021

Welcome to our new blog series exploring the use of machine learning to accurately price NFTs. Over the next few weeks, we’ll be diving deeper into how we use machine learning and crowd intelligence to generate automated and up-to-date NFT pricing, why machine learning models are necessary to achieve reliable valuations at scale, and much more.

Where NFTs meet DeFi
Where NFTs meet DeFi

Owners of non-fungible tokens (NFTs) often wonder what their assets are worth, or if an asset they want to purchase is selling at a reasonable price. While it’s relatively straightforward to obtain the market price for fungible and liquid cryptocurrencies like Bitcoin or Ether at any point in time, the vast majority of NFTs are illiquid and lack rich price histories, much like physical collectibles, real estate, and art in the “real world”.

Most non-fungible tokens on the market are also selling for the first time ever. In such cases, buyers need to learn about the market, the mechanics of the application, find comparable assets, and form a valuation based on this information. These costs of information gathering create a massive barrier to entry for interested users who are concerned about the risk of purchasing something for more than it’s worth and don’t want to spend hours developing their own price assessments before entering the market.

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November 22nd, 2021

Originally Published - September 9, 2021

Bored Apes at Sotheby's
Bored Apes at Sotheby's

Sotheby’s Auction House recently hosted an auction of 101 Bored Ape Yacht Club NFTs in another milestone for crypto collectibles. Prior to the auction, Sotheby’s estimated the value of the collection at $12–18m. We ran our machine learning models to value the Bored Apes on offer and stored the estimate on the blockchain before the auction ended. We arrived at a valuation of $25.3m for the bundle. The winning bid? $24.4m.

At Upshot, part of what we do is leverage machine learning models, which are trained on market data, appraisals, and other relevant information, to generate valuations for NFTs. We’ve found that a machine learning approach can be used at scale to generate accurate valuations for large-sets of NFTs, taking into account the unique attributes of different NFTs and the time dynamics of the market.

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November 22nd, 2021

Originally Published - August 17, 2021

Update!
Update!

Welcome to the fifth edition of the Upshot Update 👋

In this newsletter we’ll round-up the latest news, updates and insights from the team, and take a look at all the exciting developments happening across the NFT space.

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November 22nd, 2021

Originally Published - August 11, 2021

ETHCC Hackathon
ETHCC Hackathon

We were excited to recently announce the winners of the Upshot-sponsored prizes from the recent ETH CC Hackathon 2021 in 🇫🇷 Paris! ETH CC Hackathon 2021 brought together irl and online developers, creatives, and experts to build the future of DeFi, with some of the top teams in crypto in attendance.

DeFi has shown the world that the legacy financial system, with all of its walled gardens and inaccessibility, can be re-built into a decentralized, permissionless ecosystem — opening up access for anyone to use and build upon. We believe the most exciting innovations in the months and years ahead will take place at the intersection of DeFi and NFTs.

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November 22nd, 2021

Originally Published - July 19, 2021

ETHCC Hackathon
ETHCC Hackathon

Welcome to the fourth edition of the Upshot Update 👋

In this newsletter we’ll round-up the latest news, updates and insights from the team, and take a look at what’s happening across the NFT space.

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November 22nd, 2021

Originally Published - June 24, 2021

Hack Money
Hack Money

Join Upshot and over 1,0000 engineers, designers, and creators at HackMoney 2021 to help build the future of DeFi. We will be awarding $4,000 in prizes. Submit your hack for a chance to win one of two Upshot bounties that will be up for grabs.

📅 When: June 18 — July 9, 2021

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November 22nd, 2021

Originally Published - June 17, 2021

Update!
Update!

Welcome to the third edition of the Upshot Update 👋

In this newsletter we’ll round-up the latest news, updates and insights from the team, and take a look at what’s happening across the NFT space.

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November 22nd, 2021

Originally Published - June 2, 2021

Update!
Update!

Welcome to the second edition of the Upshot Update 👋

It’s been another busy couple of weeks here at Upshot! In this newsletter we’ll round-up the latest news, updates and insights from the team, and take a look at what’s happening across the NFT space.

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November 22nd, 2021

Originally Published - May 27, 2021

We’re excited to announce that Upshot is moving to Polygon! 🎉

Network congestion and high gas fees on Ethereum have made transactions extraordinarily expensive, with transaction costs reaching hundreds of dollars in some cases as network demand continues to outstrip overall throughput.

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November 22nd, 2021

Originally Published - May 19, 2021

Upshot is a platform for crowdsourced NFT appraisals. A decentralized community of collectors interact with Upshot to deliver quick and accurate pricing of assets through appraisal games .

Upshot aims to be a collector-centric NFT platform that gives NFT collectors unique opportunities to capture value from their expertise. This is your opportunity to actually work for a protocol

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November 22nd, 2021

Originally Published - May 18, 2021

Update!
Update!

**
Welcome to the very first edition of the Upshot Update 👋**

It’s been an exciting month here at Upshot! We launched our open beta, welcomed thousands of new appraisers to the platform, and raised $7.5 million from some of the top funds in crypto. And we’re just warming up!

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November 22nd, 2021

Originally Published - May 11, 2021

We’re thrilled to announce the open beta of Upshot!

In April, we began opening the Upshot platform up to a small set of appraisers as part of our closed beta. Over a thousand new NFT collectors and community members have joined the platform since then. Starting today, anyone can sign-up and start appraising NFTs on Upshot.

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November 22nd, 2021

Originally Published - May 6, 2020

NFTs are a new asset class with unbounded potential. The problem is that NFTs don’t change hands very often, so the open market has a difficult time pricing them efficiently. At Upshot, we’re building a crowdsourced NFT appraisal platform that leverages a new field of mechanism design called “peer prediction” to pay experts to appraise NFTs honestly. Our goal is to create efficient “Zestimates” for any NFT while paying experts for their insights.

Through crowdsourced NFT appraisals, we aim to enable closer to real-time price feeds for NFTs — empowering a new generation of appraisers and catalyzing powerful new innovations in DeFi.

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November 22nd, 2021

Originally Published - March 11, 2021

Christie’s auction of Beeple’s “Everydays: The First 5000 Days” marks a major step forward for NFTs, but scalable crowdsourced appraisal infrastructure will be needed for this burgeoning medium to scale and will allow a new class of appraisers to capture value from their expertise.

Earlier today, Beeple’s “Everydays: The First 5000 Days” sold at auction for an eye-popping $69,346,250. The successful collaboration between Beeple, a pioneering digital artist, and Christie’s, a renowned auction house and staple in the art market, marks an important milestone in the world of crypto art.

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November 22nd, 2021

Originally Published - March 4, 2021

NFTs are an incredibly powerful standard for representing almost anything in the decentralized world. A new space is emerging at the intersection of DeFi and NFTs, enabling a range of powerful new DeFi primitives.

NFTs are an incredibly powerful standard for representing almost anything in the decentralized world. Today, NFTs most commonly represent things like digital art, digital land, and collectibles. Much of the narrative currently centers around the ability for artists to fully own the works they create. NFTs give artists the power to distribute their work directly to their audiences without the need for middlemen and gatekeepers.

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November 22nd, 2021

Originally Published - December 23, 2020

NFTs lack an efficient price discovery mechanism, so we built an NFT appraisal product powered by peer prediction.

New Product whodis?
New Product whodis?

It’s no secret that NFTs are notoriously difficult assets to price. NFTs define an asset class that is both non-fungible and low-velocity (they don’t change hands very often). This makes it very difficult to find the price of NFTs. If an NFT only changes hands once every six months, how do you know how much you should pay for it? How do you know how much you should sell it for? Having a means to efficiently price NFTs would tear down existing barriers to adoption and enable a wave of powerful, new financial products built on top of this burgeoning asset class (NFT indices, underwriting debt against NFTs, etc). So how does one efficiently price NFTs?

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November 22nd, 2021

Originally Published - October 1, 2020

Peer Prediction is an under-appreciated field that offers novel approaches to eliciting honest answers.

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November 19th, 2021

Welcome to our new blog series exploring the use of machine learning to accurately price NFTs. Over the next few weeks, we’ll be diving deeper into how we use machine learning and crowd intelligence to generate automated and up-to-date NFT pricing, why machine learning models are necessary to achieve reliable valuations at scale, and much more.

Where NFTs meet DeFi
Where NFTs meet DeFi

Owners of non-fungible tokens (NFTs) often wonder what their assets are worth, or if an asset they want to purchase is selling at a reasonable price. While it’s relatively straightforward to obtain the market price for fungible and liquid cryptocurrencies like Bitcoin or Ether at any point in time, the vast majority of NFTs are illiquid and lack rich price histories, much like physical collectibles, real estate, and art in the “real world”.

Most non-fungible tokens on the market are also selling for the first time ever. In such cases, buyers need to learn about the market, the mechanics of the application, find comparable assets, and form a valuation based on this information. These costs of information gathering create a massive barrier to entry for interested users who are concerned about the risk of purchasing something for more than it’s worth and don’t want to spend hours developing their own price assessments before entering the market.

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November 19th, 2021

Originally Published - September 25, 2020

There does not exist an efficient price discovery mechanism for NFTs. This inhibits the development of many useful products (e.g. underwriting debt with NFTs, NFT indices). Upshot One can be used to appraise the value of NFTs much more efficiently than normal market transactions.

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November 19th, 2021

Originally Published - September 23, 2020

Upshot One is a question & answer protocol built on Ethereum. On it, randomly selected agents are incentivized to answer questions correctly via peer prediction. Series of questions and answers can be forked to reflect varying subjective preferences.

A question & answer protocol is simply a service where questions are met with answers. Upshot One is a question & answer protocol that makes it prohibitively expensive for questions to be matched with incorrect answers. In this article, we describe how Upshot One accomplishes this. At a high level, Upshot One operates in five steps:

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November 19th, 2021

Originally Published - September 18, 2020.

Upshot One is a question & answer protocol built on Ethereum. It leverages a field of mechanism design called peer prediction to incentivize honest answers to questions.

The Problem