Turn Billions of NFT Data Sets Into Meaningful Actions With PARSIQ Smart Triggers https://ift.tt/3Eeohte

OpenSea, the world-leading NFT marketplace, is now integrated with PARSIQ to bring the innovative ‘reverse oracle’ technology for NFTs. With PARSIQ, NFT enthusiasts can now leverage real-time blockchain activities for more prudent actions and decisions. It is now possible to receive live notifications on NFT collections, with access to crucial information on current sales, floor prices and newly minted tokens.

Other data sets that users now directly interact with include one-day to 30-day volumes, project traits, wallet activities and the number of owners for particular NFT collections. Even better, you can receive all these updates straight to your preferred channel, including Twitter, Telegram, Discord and Google Sheets. Whether you need simple notifications or more advanced NFT accounting workflows, PARSIQ’s Smart Triggers allows you to set it up in just a few clicks.

NFTs are taking the blockchain industry by storm. Today, the NFT marketplace is at $43 billion after surging nearly 426% in August alone. The Google search trend for ‘How to buy NFT’ averaged at 20 at the beginning of August. The search interest increased to an average of 100 per day 29 days later.

In other news, JP Morgan indicates that NFT sales rose to $7 billion in November 2021. For the past few months, the monthly sales have been hitting $2 billion, compared to $400 million at the beginning of January. Some of the factors spearheading this market proliferation include an upward surge in the value of these digitized assets.

Despite the immense popularity, users still encounter numerous challenges when it comes to handling NFT data. For instance, the number of NFTs sold in open marketplaces increases daily, and it is quite difficult – if not almost impossible – to track all of the floor prices.

Although users can access this data from various analytics sites, extracting insights in real-time is still a challenge. To complicate matters, the data emanates from numerous fragmented NFT sources, making it difficult to manually track across these sites.

Customizing ‘if this, then that’ actions from NFTs would hence be useful to create more robust actions for investors, collectors, projects and marketplaces.

Now with the latest PARSIQ integration, NFT data can be enriched in thousands of new possibilities. Getting started is simple. You only need to enter your wallet address or any public wallet of interest and monitor via ‘smart triggers.’ Finally, choose which channel to get notifications or enrich the raw data with customized action logic.

NFT smart triggers are critical if the industry is going to gain more real use cases past the current hype. Many people can benefit from NFT monitoring, including NFT owners and potential buyers, enthusiast NFT collectors and any NFT projects, such as play-to-earn platforms. Highly relevant beneficiaries of this innovation are NFT marketplaces that look to enhance their users’ experience through real-time analytics.

Here are some use case examples with NFT monitoring.

• For investors – Keen on buying a CryptoPunk? Track the daily floor prices in real-time of all CryptoPunks to find the best time to buy. Even minutes can make a difference.
• For NFT collectors – Secure the NFT you’re collecting by watching the buy/sell prices on OpenSea. Get immediate notifications to your messaging app as soon as the price changes by a given threshold.
• NFT projects – Data is the new oil. After minting your project’s awesome NFT collection, track where, who and how every single NFT is being transacted. This allows you to obtain buyer demographics and detailed analytics for your NFT sales.
• Play-to-earn games – Having smooth player mechanics is vital for play-to-earn platforms. Track every single transaction of all NFTs related to the game in order to pinpoint bottlenecks and identify areas of game development based on detailed analytics.
• NFT marketplaces – Calculate daily volumes, unique active wallets, demographics, trends and a whole lot more insights with real-time data. Create customized analytics reporting on Google Sheets or plug into your custom dashboard reporting software.

The NFT market is innovative and competitive, yet highly fragmented. With easier ways to obtain on-chain NFT data, create meaningful actions and connect to web 2.0 applications that we are all familiar with, more people can further unravel the potential of NFTs.