bitsCrunch is thrilled to announce our strategic partnership with BlockPI Network, a distributed multi-chain acceleration layer for the co-launch of our startup programs. The program aims to empower developers and startups who are driving innovation in the blockchain industry. The co-startup program is an unique opportunity for early-stage companies to leverage the expertise of two leading Web3 companies. The partnership will provide startups with a seamless experience and access to a range of valuable resources that will help them to build their projects. bitsCrunch and BlockPI have teamed u ..read more

You’ve probably heard that NFTs can easily be copied. This is a criticism that has been levelled against them ever since they came on the scene. However, it can’t be further from the truth. An NFT, by nature, remains unique. Its rarity gives it value, making it a digital certificate of ownership to a specific file minted on the blockchain. Yet, there are ways to make people think that the NFT they are purchasing is in fact the original one, while the file it represents can be an image that has simply been copied off the original. These are copycat NFTs which create confusion over the authenti ..read more

Skry is a first-of-its-kind NFT rating platform that simplifies searching for the best NFTs. Skry aims to be the “Moodys of NFTs” by providing its users with NFT ratings. These ratings empower users to make data-driven decisions about decentralised assets. Skry has employed bitsCrunch‘s wash trade detection API to improve its rating system, which detects wash trading down to each collection existing on the blockchain. Wash trading is a form of market manipulation where an individual or group artificially inflates an asset’s trading volume and price. This creates the illusion of high demand an ..read more

One of the most crucial obstacles to the growth of NFTs is that they are still a relatively new asset class. This makes buying and purchasing them challenging, as it can be difficult to estimate their value accurately. The difficulty in gauging the value of an NFT arises due to their subjective nature. Given that NFTs are generally tied to digital art in some form, the biggest/most important factor affecting their price is their rarity, or on how unique the concept behind them is. Further complicating this process of price estimation is the fact that there are those who seek to inflate the va ..read more

Non-Fungible Tokens (NFTs) are unique digital assets that use #blockchain technology to certify ownership and authenticity. In 2022, the NFT market experienced a significant surge in popularity, with a record number of new collections created. The rise of #NFTs has been driven by several factors, including the increasing adoption of blockchain technology, the growing interest in digital art, and the emergence of new marketplaces and platforms for NFT trading. According to our data, 613K new NFT contracts were created in 2022, representing an 860% increase from the previous year. The vast majo ..read more

Over the past year, the team at bitsCrunch worked extensively to launch its premier NFT analytics platform ‘UnleashNFTs.’ With rich data visualization, UnleashNFTs will allow you access to reliable insights that effectively result in better investment decisions. In this guide, we want to provide a comprehensive overview of UnleashNFTs to ensure you can get the best out of it. Before we get started, let us explain more about UnleashNFTs and some of its essential features that help you easily navigate the market. What is UnleashNFTs? As we mentioned before, UnleashNFTs ..read more

What is Wash Trading? Wash trading refers to an activity where one or more traders have schemed to create an artificial demand for security by purchasing and selling it multiple times. This results in traders and investors paying more for a security than it is worth. In NFTs, this fraudulent activity affects both the price and volume of an NFT project, resulting in marketplaces no longer having reliable metrics for determining the growth and reach of their platforms. According to bitsCrunch’s latest report, the NFT market saw a boom at the beginning of 2022, with an approximate volume of $17 b ..read more

bitsCrunch is thrilled to announce the launch of its upcoming startup program as part of its commitment to bring more awareness and transparency of data to the NFT ecosystem. The latest initiative by the startup will include a comprehensive agenda to ramp up investment of its resources and innovation in the burgeoning industry. With this, bitsCrunch seeks to make NFT data more accessible to developers and startups building projects that add value to the market. At the same time, it will allow the community to drive adoption and innovation for the future. The startup program will allow de ..read more

bitsCrunch is a community-driven project, and that is partially because web3 has always offered a sense of community to individuals. We wanted to do something similar where we can spread awareness on various topics, ranging from NFTs’ core benefits to issues that are still prevalent in the ecosystem. We have had an exciting journey so far. From barely a few Discord members, we now have amazing gems in thousands of community members supporting bitsCrunch and its mission. We have no one but our community to thank for what has helped bitsCrunch become what it is today. However, we feel that we c ..read more

Even with the whole concept of NFTs being relatively new, people are actively getting themselves involved in the crypto industry. NFTs and NFT collections have taken the crypto industry by storm, particularly in the last two years. As per UnleashNFTs, more than $19 million worth of cryptocurrency was invested in NFTs in the previous quarter of 2022. Let’s take a look at the most common practices such as using popular NFT tools in tracking NFT collections before investing in them! Are NFT collections a Worthy investment? When it comes to collecting NFTs, they are indeed a young and relatively ..read more