UpshotIntroducing Upshot Analytics: The Next Generation NFT Appraisal Platform
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 DeFiNFT 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 emergi...
UpshotUpshot Raises $22M Series A2 Led by Polychain to Accelerate Development of Real-Time NFT Appraisals
Blockchain-based, machine learning & crowdsourced NFT appraisal platform aims to become the appraisal authority of the digital asset worldBOSTON, MA – March 22, 2022 – Upshot, a blockchain-based protocol providing industry-leading non-fungible token (NFT) appraisals, today announced a $22 million Series A2 funding round led by Polychain Capital, the world's premier investor in cryptocurrency protocols and companies. Polychain is joined in this round by new investors dao5, Olive Tree Capi...
UpshotTaking NFT Pricing to the Next Level with Machine Learning
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...
UpshotIntroducing Upshot Analytics: The Next Generation NFT Appraisal Platform
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 DeFiNFT 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 emergi...
UpshotUpshot Raises $22M Series A2 Led by Polychain to Accelerate Development of Real-Time NFT Appraisals
Blockchain-based, machine learning & crowdsourced NFT appraisal platform aims to become the appraisal authority of the digital asset worldBOSTON, MA – March 22, 2022 – Upshot, a blockchain-based protocol providing industry-leading non-fungible token (NFT) appraisals, today announced a $22 million Series A2 funding round led by Polychain Capital, the world's premier investor in cryptocurrency protocols and companies. Polychain is joined in this round by new investors dao5, Olive Tree Capi...
UpshotTaking NFT Pricing to the Next Level with Machine Learning
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...
Share Dialog
Share Dialog
Subscribe to Upshot
Subscribe to Upshot
<100 subscribers
<100 subscribers
A new grading index for NFT wallets. Check any wallet here.
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.
Building off of previous attempts at this from projects like Degen Score, ARCx Passports, and Nansen’s Smart Money, some of the factors that go into calculating a wallet’s gmi include:
Realized/Unrealized gains
Number of transactions
Transaction volume
Number of NFTs
Number of Premium/Blue Chip NFTs
Age of wallet
Number of Collections
The leveling system for gmi is broken into six segments:
based god [>975] Legendary wallets, the very biggest collectors and traders
based [900-975] based
full degen [700-900] Full-time degeneracy
degen [400-700] Part-time degeneracy
tourist [100-400] Just browsing, mostly
ngmi [<100] Sadly, ngmi
Additional Considerations
Reputation and degeneracy take many forms in our space and we’re just getting started in classifying to make them more useful and interoperable for builders, creators, and collectors. Areas of the market like 1/1s, editions, membership tokens, and virtual land are not contemplated in our current gmi calculations and we have only focused on Ethereum transactions at this time.
It's common practice for NFT collectors to hold NFTs across multiple wallets. Minimally, many collectors will often have one hot wallet (or multiple) that they’re actively using to buy/sell NFTs and a cold wallet where they store their longer-term NFT positions. Because it’s difficult to know when someone is transferring NFTs between their own wallets vs someone else's wallet, we've had to make a decision around how to best attribute gains to different wallets when there are transfers in between sales.
For this first version of gmi, the wallet that last purchased the NFT will be the one attributed with the gain/loss when that NFT is sold; regardless of whether or not there were transfers between the last purchase and the sale.For example, let's say bigpictureguy.eth buys a Bored Ape from one of their hot wallets (hot1.bigpictureguy.eth), then transfers it to their cold wallet for storage (vault.bigpictureguy.eth), then later transfers it to another one of their hot wallets (hot2.bigpictureguy.eth) to sell the ape from. The gain or loss from this sale, even though coming from hot2.bigpictureguy.eth, will be attributed to hot1.bigpictureguy.eth because that was the last wallet to purchase the ape.
These design decisions come with their own set of trade-offs and may result in some unexpected numbers being displayed on someone's gmi card. While we feel as though these decisions bring more benefits than detriments in light of the aforementioned complexities and potential for manipulation, subsequent versions of gmi will aim to solve these problems without as many compromises.
Sooon
In the future, we plan to expand gmi to include activities across the metaverse. Things we’re investigating:
Types/Superlatives/Badges
Leaderboard and other wallet discovery tools
Inclusion of 1/1 collection types
Social channels, audience scoring
Combining multiple wallets into single identity
Governance and DAO membership activities
P2E participation
Support for other chains
While this initial approach is by no means complete, we think Upshot gmi will bring context and utility to wallets and provide a new platform for persistent reputation at the intersection of DeFi and NFTs. We’re working to evolve and refine gmi based on what our community values and the feedback we receive, so please let us know what you think.
Starting today, anyone can check a wallet’s gmi at upshot.xyz/gmi. gmi will soon be available for developers to leverage directly through the Upshot API. We’re excited to see how builders are able to use gmi to build novel DeFi primitives and notions of identity.
Stay in the loop!
+ Join us on Discord
+ Follow us on Twitter
+ Work with us Apply
+ Subscribe to our newsletter
A new grading index for NFT wallets. Check any wallet here.
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.
Building off of previous attempts at this from projects like Degen Score, ARCx Passports, and Nansen’s Smart Money, some of the factors that go into calculating a wallet’s gmi include:
Realized/Unrealized gains
Number of transactions
Transaction volume
Number of NFTs
Number of Premium/Blue Chip NFTs
Age of wallet
Number of Collections
The leveling system for gmi is broken into six segments:
based god [>975] Legendary wallets, the very biggest collectors and traders
based [900-975] based
full degen [700-900] Full-time degeneracy
degen [400-700] Part-time degeneracy
tourist [100-400] Just browsing, mostly
ngmi [<100] Sadly, ngmi
Additional Considerations
Reputation and degeneracy take many forms in our space and we’re just getting started in classifying to make them more useful and interoperable for builders, creators, and collectors. Areas of the market like 1/1s, editions, membership tokens, and virtual land are not contemplated in our current gmi calculations and we have only focused on Ethereum transactions at this time.
It's common practice for NFT collectors to hold NFTs across multiple wallets. Minimally, many collectors will often have one hot wallet (or multiple) that they’re actively using to buy/sell NFTs and a cold wallet where they store their longer-term NFT positions. Because it’s difficult to know when someone is transferring NFTs between their own wallets vs someone else's wallet, we've had to make a decision around how to best attribute gains to different wallets when there are transfers in between sales.
For this first version of gmi, the wallet that last purchased the NFT will be the one attributed with the gain/loss when that NFT is sold; regardless of whether or not there were transfers between the last purchase and the sale.For example, let's say bigpictureguy.eth buys a Bored Ape from one of their hot wallets (hot1.bigpictureguy.eth), then transfers it to their cold wallet for storage (vault.bigpictureguy.eth), then later transfers it to another one of their hot wallets (hot2.bigpictureguy.eth) to sell the ape from. The gain or loss from this sale, even though coming from hot2.bigpictureguy.eth, will be attributed to hot1.bigpictureguy.eth because that was the last wallet to purchase the ape.
These design decisions come with their own set of trade-offs and may result in some unexpected numbers being displayed on someone's gmi card. While we feel as though these decisions bring more benefits than detriments in light of the aforementioned complexities and potential for manipulation, subsequent versions of gmi will aim to solve these problems without as many compromises.
Sooon
In the future, we plan to expand gmi to include activities across the metaverse. Things we’re investigating:
Types/Superlatives/Badges
Leaderboard and other wallet discovery tools
Inclusion of 1/1 collection types
Social channels, audience scoring
Combining multiple wallets into single identity
Governance and DAO membership activities
P2E participation
Support for other chains
While this initial approach is by no means complete, we think Upshot gmi will bring context and utility to wallets and provide a new platform for persistent reputation at the intersection of DeFi and NFTs. We’re working to evolve and refine gmi based on what our community values and the feedback we receive, so please let us know what you think.
Starting today, anyone can check a wallet’s gmi at upshot.xyz/gmi. gmi will soon be available for developers to leverage directly through the Upshot API. We’re excited to see how builders are able to use gmi to build novel DeFi primitives and notions of identity.
Stay in the loop!
+ Join us on Discord
+ Follow us on Twitter
+ Work with us Apply
+ Subscribe to our newsletter
No activity yet