InfiniteWorld, a well-known NFT and Metaverse infrastructure company that leverages creators and brands to establish their careers, just launched a new analysis platform called NFT Grade. The tool will help buyers and collectors to evaluate NFTs through various assessment features.
NFTs or non-fungible tokens have become a popular digital asset to own in this era. With the rising popularity, many creators, brands, and artists have been launching their own NFT collections almost every month.
Even with the bear crypto market, the NFT community is looking at the positive aspect of Web3 technology. The biggest example is the recent NFT NYC 2022 conference where thousands of brands from around the world came to New York to showcase their projects.
Seeing so many NFT projects emerging, the competition between collectors and investors has become even tougher. Furthermore, with a variety of NFTs, it has become quite hard for people to differentiate or decide which one to buy.
InfiniteWorld introduces NFT Grade
NFT Grade is an analysis platform powered by InfiniteWorld, Hedera, and HBAR Foundation that helps collectors evaluate NFTs based on various assessment tools offered. According to the company, this platform is made to establish trust and confidence in the traditional art world in Web3 space.
The team understands that various scams and frauds are preventing various traditional artists from entering the NFT space.
Yonathan Lapchik, Co-Founder of InfiniteWorld, said “The high level of detail offered by InfiniteWorld’s NFT Grade product gives collectors the ability to accurately assess the real value of any given NFT, providing much needed trust and assessment tools to the NFT community.”
According to the official press release, NFTGrade is inspired by the IRL tools used by artists and museums which can even track the changing condition of their physical assets as well. The platform utilizes blockchain technology to form a complete report on NFTs.
The report gives complete information on “an asset’s smart contract code and storage platforms, breaking down technical topics and details in an easy-to-digest fashion.”
NFTGrade can evaluate NFTs on various blockchains including Ethereum, Polygon, and Hedera. The analysis takes place based on 11 criteria divided into 2 categories: Code and Media.
InfiniteWorld has announced it will expand its functionalities to other blockchain networks and more assessment tools to make it more inclusive for users.
The co-creator of NFT Grade, Sean Shim-Boyle said, “While there is enormous potential for NFTs to serve the best interests of artists, artist estates, foundations, museums, galleries, and auction houses among others—tools to validate acts of integrity from artifice and to distinguish the work of con-men from the sincere are needed.”
NFT Grade will be part of the SUKU Ecosystem and enhance its authenticity around the world with its highly developed tools. According to the company, NFT Grade will integrate the physical and digital together by giving more opportunities to creators and artists around the world, and also maintain their art quality.
Wes Geisenberger, VP of Sustainability & ESG at The HBAR Foundation, says, “The synthesis of NFTs and traditional art will only be possible with the advent of authentication technology like NFT Grade…”
How to generate a report on NFTGrade?
NFT Grade is an easy-to-use platform that is built for every user’s convenience. Every blockchain has a different way of feeding data so generating an NFT report also differs. For example, for Hedera NFT, the user needs to type in Token ID and Serial #, while for Polygon and Ethereum NFTs, URL, Contact Address, and Token or Batch ID is needed.
The report will give a wide range of explanations about the NFT so that the users can fully understand and be aware of whatever they are buying. In a tweet, the team explained, “NFT grades are based on the quality of its code and quality of the storage platform housing the media. NFT Grade DOES NOT grade based on the artwork itself.”
InfiniteWorld announced it will add more blockchains and functionalities like connecting wallets in the coming months.
InfiniteWorld is an NFT and metaverse infrastructure company that brings creators and brands into the digital revolution. It helps them to create, monetize, and establish their careers in the Web3 space. Recently, InfiniteWorld partnered with Aries I Acquisition Corporation to become a public traded company.
For more information on NFTGrade, visit the official website or follow @InfiniteWorld on Twitter.