[NFT Oracle №13] BAYC#283 was priced by the PawnHouse consensus 232 times, where the final price reached 430,320 USDT!
On April 20, 2022, entrusted by the asset holder, the BAYC#283 completed the world’s first NFT oracle pricing!
During the 3-hour Pricing & Auction process, BAYC#283 received 232 many consensus prices. BAYC#283 passed 18 rounds of bidding, where the final transaction price reached 430,320 USDT (138.65 ETH). Notably, the user who became the top Oracle was 0x01F***CF0!
PawnHouse is the world’s first NFT oracle. With Web3 and the Metaverse expanding, more NFT assets will emerge in the future. However, economic value is the foundation of vitality, and flow is the guarantee for realizing economic value. PawnHouse solves the NFT pricing problem through consensus value — Information is the resolution of uncertainty. PawnHouse aims to ensure liquidity with consensus and promote price emergence with price proposals! The platform allows users to provide information references for the bidder, and the final bid provides the quotation incentive scale.
Bored Ape Yacht Club (BAYC) is a collection of digital collectibles consisting of 10,000 primates launched in April 2021. These apes include unique characteristics such as varied hats, eyes, expressions, clothing, and backgrounds. In addition, 170 different properties determine their rarity. Thus, BAYC NFTs were programmed to combine 10,000 unique apes with distinctive expressions and dresses.
At present, the total transaction volume of Bored Ape Yacht Club in Opensea exceeds 1.5 billion US dollars (495.5K ETH), and the floor price is 113.42 ETH. The NFT of this event is BAYC#283: a sushi hand band, tank top, double bored, and clean eye BAYC.
BAYC#283 has completed four transactions in the past year. The transaction time and price are as follows:
- On February 27, 2022, the transaction price was 4.5 ETH ($13648)
- On April 12, 2022, the transaction price was 113 ETH ($350,000)
- On July 22, 2021, the transaction price was 8.6 ETH
- On May 28, 2021, the transaction price was 0.53 ETH
- On May 21, 2021, the transaction price was 0.2797 WETH
To participate with your assets in the pricing of NFT oracles, please apply via email to us: firstname.lastname@example.org.
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The PawnHouse project team combined and applied both the SMRA theory (2020 Nobel Economic Prize) and The Wisdom of Crowds theory to effectively solve the issue of decentralized NFT asset-pricing and improve the liquidity of NFTs.
Due to its unique characteristics, the historical transaction price of NFT is determined by private value. This results in less effective price information and is easier to control. By introducing price proposers to the market, PawnHouse satisfies both common and private values, and provides a comprehensive and rich price collection strategy. While building a price corridor for NFT assets, PawnHouse also supports NFT’s collateralization and auction transactions.
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