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Upshot
NFT pricing protocol
- 21-100 employees
- B2B
- Cryptocurrency
- Blockchain
- Art
- Web 3.0
- Lower Roxbury, Boston, MA
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Company mission
Upshot's mission is to create near real-time price feeds for NFTs through crowdsourced appraisals.
Our take
The NFT industry grew rapidly throughout the early '20s, and its associated cryptocurrencies led to extremely volatile pricing. Whilst many lucky investors made money from such volatility, it has overall increased the adverse risk associated with investing in NFTs, reducing the certainty of a price and thus deterring potential investors.
Upshot leverages machine learning and crowdsourcing technology to aggregate and present near-real-time price feeds for NFTs, providing this information through a platform and API. The API facilitates integration within NFT marketplaces, portfolio trackers, and other DeFi protocols, helping businesses to provide their customers with accurate NFT pricing.
Whilst skepticism about the future value of NFTs will present significant challenges for Upshot, the company shows great potential to combat this by attempting to introduce a more comprehensive and accurate pricing protocol for NFTs. Through this approach, the company hopes to increase visibility into NFT pricing, ultimately minimizing risk and thus boosting investment. Significant funding awarded in 2022 will go some way to achieving these goals, giving Upshot the runway to R&D its pricing models, expand its team, and build new developer tools.
Freddie
Company Specialist at Welcome to the Jungle
Funding (last 2 of 3 rounds)
Mar 2022
$22m
SERIES A
May 2021
$7.5m
SERIES A
Total funding: $30.6m
This company has top investors
Leadership
Nick Emmons
(Co-founder)Self-Employed Full Stack Developer from 2015 to 2018. Experienced as Lead Blockchain Engineer for John Hancock from 2018 to 2019.