With a new partnership, MetaMask adds tracking of NFT portfolios to its portfolio system.

Key points:

• MetaMask users can now track the value of their non-fungible token (NFT) portfolios with the latest offering.
• The new utility is the result of a partnership with NFTBank, an NFT portfolio management tool and rating engine.
• According to the announcement, the algorithm takes into account parameters such as floor price, rarity, and bid-ask spread when calculating the price value. 

A new MetaMask wallet created through a partnership with NFTBank allows users to view the value of their NFT holdings

MetaMask users can now track the value of their non-fungible token (NFT) portfolios with the latest offering. The wallet provider announced a new feature on Nov. 2 that will provide updated pricing information for MetaMask users’ collections of more than 5,000 NFTs.

The new utility is the result of a partnership with NFTBank, an NFT portfolio management tool and rating engine. To create their predictions, NFTBank uses machine learning algorithms to update users' price estimates for individual NFTs in the collection.

According to the announcement, the algorithm takes into account parameters such as floor price, rarity, and bid-ask spread when calculating the price value. The tool claims to be more than 90% accurate in price predictions

Daniel Kim, CEO of NFTBank, said current market conditions and volatility make understanding pricing even more important.

“The need for understanding the appropriate price of NFTs has become ever more clear with many learning the dramatic volatility of NFT markets the hard way.”

As MetaMask continues to expand its capabilities in the Web3 space, new portfolio value products are available.

It was recently revealed that blockchain software company ConsenSys plans to allocate $2.4 million per year to support the launch of the MetaMask Grants Decentralized Autonomous Organization (DAO). The DAO is run by MetaMask staff and provides funding for external developers to build within the ecosystem.

MetaMask introduced another wallet feature for its institutions a few weeks before announcing the portfolio tracker. Worked with Cobo NFT management to provide institutional NFT investors with a new custodial account feature.