First NFT award project using machine learning DeepNFTValue raises $ 4 million in funding round
DeepNFTValue, a machine learning company that uses deep neural networks to price non-fungible tokens (NFT) and other NFT assets, has announced a $ 4 million increase led by the Rockaway Blockchain Fund, a venture capital firm that supports leading Web3 founders. The increase also included investments from, among others, 1Confirmation, Cygni Capital.
Founded by in-depth researcher Nikolai Yakovenko, DeepNFTValue builds a platform for NFT awards across the most valuable, floating and effective Web3 collections. As the first project to publish live daily CryptoPunks price estimates that take into account market activity and asset ownership, DeepNFTValue facilitates market transparency and price discovery, beyond rarity scores and rule-based pricing. The platform is used by the CryptoPunks community for third-party valuation, as well as its best deals for NFTs listed for sale live on the CryptoPunks market.
Nikolai Yakovenko, founder of DeepNFTValue, said: “We are the first company to bring world-class machine learning to crypto markets. Market price discovery for NFT collections is just the beginning, and with this funding we will be able to expand this product and meet our users. where they are – whether through our website and APIs or on the smart contract chain. This increase will help us meet our growing community more effectively. “
The company is expanding its flagship CryptoPunks product to other leading NFT collections such as Bored Apes, CloneX, Azuki and ArtBlocks. Some of the capital raised will be reserved for GPU hardware, needed to train the most sophisticated machine learning models with deep learning methods.
Dusan Kovacic, Chief Investment Officer of the Rockaway Blockchain Fund, commented: “Using an ensemble of purpose-built neural networks, DeepNFTValue delivers expert quality estimates for high-value NFTs in a scalable way. Nik and his team bring a solution to the market that is far “superior than anything else used today, which will enable the use of NFTs in DeFi with significantly improved capital efficiency. We believe DeepNFTValue is ready to become oracle with broad social consensus to value and trade NFTs.”
Nikolai Yakovenko concluded: “No one wants their collection to be mispriced, especially in a DeFi protocol such as a loan contract, due to insufficient attention to modeling. People are always surprised at how much robust and efficient modeling costs, in terms of research time and data. , and raw computing. “
About DeepNFTValue
DeepNFTValue trains deep neural networks and other machine learning models to value CryptoPunks prices based on attributes, transactions and ownership history. The project is the first Web3 initiative for Nikolai Yakovenko after an extensive career in research and development of machine learning with positions at Google, Twitter, Nvidia and Point72 Asset Management. For more information on DeepNFTValue, please visit the website.
About Rockaway Blockchain Fund
Rockaway Blockchain Fund (RBF) is a venture capital firm that supports leading Web3 entrepreneurs. By helping tomorrow’s pioneers deliver their products faster, RBF accelerates the development of a globally decentralized and prosperous ownership economy.
Based in Europe and with a portfolio of industry-leading decentralized projects, RBF focuses on long-term value creation by offering venture, engineering and liquidity support. RBF is set to become Europe’s largest Web3 investment company, providing liquidity and investing in more than 20 funds and 30 projects to date, including Solana, Ethereum and Cosmos. For more information on RBF, please visit rbf.capital.
