NFT, also known as Non-fungible tokens are a kind of cryptocurrency that enables the holder to identify their ownership of real or digital items.
These intangible assets include plots of virtual real estate in video games, digital artwork in Beeple’s Everyday’s, the 2020 collection etc.
The NFT inspect is a web-based application and browser extension. This was first started in the first quarter of 2022, creating a platform where NFT’s can be bought and sold by the users of Twitter.
This web app is the most popular community when it comes to analysis. This tool is partnering up with Web3 infrastructure company MoonPay to help the users of Twitter buy and sell cryptocurrency through this Chrome extension.
In June 2023, NFT Inspect launched the new Chrome extension that provides a platform not just to analyse the NFT’s but also to buy and sell the popular NFT collections commonly identified as Twitter profile pictures. This also provides real-time data on these Twitter profile pictures.
This NFT search tool is also available in beta as a web version. The NFT’s inspect tool allows users to search for NFT’s in different ways, either through Twitter profile pictures or shared as a tweet. This tool can be used to analyse the addresses of individual wallets by scanning through the publicity-available blockchain information to identify the usage of any NFT in the respective wallet. The tool can also demonstrate the rare characteristics of the respective NFTs.
According to the statement from the president of NFT Inspect Oliver Cohen,
“Twitter has emerged as the central communication platform for all things crypto and NFTs, where industry news, project updates, and community discussions take place in real-time”
However, Oliver Cohen further mentioned the improvements that needed to be worked on in the search tool. Cohen stated that although Twitter has emerged from the dead with the new NFT inspect Chrome Extension, there are areas for improvement. The lack of in-depth tools that acquire the power of Twitter and provide the user with a complete solution for tracking, analysis, and engagement with the NFT ecosystem.
Cohen further explained that the Chrome extension uses AI algorithms to enhance the performance of the tool and detect NFT-related content. Additionally, he stated that the tool can be used to identify the most popular NFT on the platform and this will help the users to make informed decisions about their investments.
The browser extension identifies the NFT’s from multiple blockchains such as Ethereum, Polygon, and Solana blockchains. However, it does not support GIF files and video files.
The NFT inspect Chrome extension browser was brought out from the dead under the management of a new owner in March. This was the biggest comeback for NFT Inspect after the reluctant shutdown in January 2023.
The fall of the NFT Inspect came from the drop of market interest in NFT’s.
According to the reports, the global trading volume of NFT’s had fallen from 77% to $1.7 billion dollars in the third quarter of 2022, which is an overall 84% decrease in profits.
After the acquisition, NFT Inspect resumed building its tools in order to create a platform that was safe and reliable for the NFT users to trade in.
According to the press release, the newly formed partnership is aimed at allowing NFT users to buy and sell a range of digital assets with the help of MoonPay’s payment infrastructure. MoonPay accepts a range of payment methods, including debit cards, Apple Pay, Google Pay, and various forms of local payment transfers.
The CEO and co-founder of MoonPay, Ivan Soto-Wright, said that this collaboration reinstates their vision of encouraging widespread cryptocurrency adoption and payment methods that are adaptable to all countries, creating a borderless payments ecosystem, where everyone can wholly participate without any barriers.
Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
