The NFT market is gaining more mainstream relevance, as evident in NBA Top Shot with $230 million in gross sales. This moment in time is analogous to the early Web 2 era when social networking blossomed in the 90’s.
But NFT projects are not complete without a follow-up on newcomers fade, transition to secondary sales and all public data. Data analytics will be the game changer to help make predictions through statistical algorithms, machine learning and even artificial intelligence techniques.
Bird and ShoeFy are coming together in support of common values, including data analytics that allow for the growth and expansion of decentralized finance.
NFTs + FTs = ShoeFy’s Winning Formula
ShoeFy is an innovative decentralized platform that synchronizes Non-Fungible Tokens (NFT) and Fungible Tokens (FT). It is a futuristic NFT project that utilizes cutting-edge DeFi tools to maximize returns. On ShoeFy, the potential of NFTs is amplified with the unique features to generate passive income.
ShoeFy brings DeFi-like utility to NFTs with distinctive power-packed features for the Gen-Z, maneuvering Web 3.0 & its applications like Staking, Farming, Instant Swaps, NFT boosters. With a long-term goal of innovating and evolving over time, ShoeFy will develop a presence in the metaverse, with one-of-a-kind digital kicks. Over time, the venture will lead to the growth of the product line to include more items, as well as collaborations with prominent fashion labels.
Big Data and NFTs: The Great Marriage
By contributing Bird’s data services and machine learning model, ShoeFy’s on-chain data can be analyzed to unveil valuable insights into customer behaviors and industry trends. As such, NFT sales performance and specific metrics such as trading volume, average price and number of holders can be utilized to predict with good accuracy future outcomes of events, including user habits in ShoeFy’s applications, NFT lifetime value and dynamic prices etc.
Smarter decisions bring happier results. Enhancing analytical methods through the use of difficult-to-understand raw data will hugely benefit both ShoeFy and its investors with better market intelligence. Following proper data management, Bird will convert data into visualizations to enable ShoeFy in understanding the stories behind.
Together, Bird believes the partnership will fundamentally change the dynamics of ShoeFy, advancing its technology in fascinating ways.
Bird is empowering dApp developers to create the Web3.0 UX of the future by developing wallet-level machine learning prediction products that are accessible within a permissionless, decentralized on-chain oracle. Developers that integrate with our products can, for example, offer variable defi loans or launchpad investment terms based on Bird’s analysis of the wallet’s past behaviors as well as off-chain data streams.
Behavioral prediction products fueled the growth of Web2.0 companies such as Google and Facebook, but centralization had led to power and profit disparities. Combining the power of ML with open and decentralized technologies will enable Bird to create an entirely new tech business model. Operational decisions such as how sensitive data are used and what user behaviors are analyzed can be made by the community (i.e, token holders), with community profit-sharing serving to align the long-term incentives of Bird administrators and ecosystem users.
Bird and ShoeFy to Bring Reliability and Veracity to Data was originally published in Bird on Medium, where people are continuing the conversation by highlighting and responding to this story.