This Otherside Community Member Made A Tool To Determine An Otherdeed's Value
As the NFT space awaits Yuga Labs next Otherside announcement, this community member has created a new tool to help Otherdeed holders determine the fair market value of their land.
On Saturday Otherside Wiki took to Twitter and shared that its website has added some new features to help holders find out the value of their digital land.
“We have added a new function which aims to calculate the fair value of your deed, Otherside Wiki tweeted. “It is calculated based on the last sales of the item's properties. The feature still needs a lot of fine tuning, and we would appreciate your feedback.”
After the post, the Bored Ape Gazette reached out to the creator of Otherside Wiki to find out more about their Otherdeed value calculations.
“We have built a function which takes the average (sold price) of each trait,” Otherside Wiki creator CryptoFrostyz told the Gazette. “For more frequent traded traits we take the average of the last 60 days. For more rare items we take a longer average (still trying around to get a more satisfying result). Besides that, we exclude high value trades (club island, kodas) out from basic traits (sediments, environments). Based on that we get an approx. value which people paid for the traits and out of that we calculate a fair value. In addition, if there were above 100 trades, we take out the highest 20% and lowest 20% - to get more reliable results. It still needs some adaption; we see that some show strange values - sometimes to high - sometimes too low. We will add some more conditions to the formula, but I was happy with the first results, so I wanted to release it.”
The Bored Ape Gazette will continue to follow Otherisde Wiki and will keep you posted on other community resources that members are making!
Be sure to follow Otherside Wiki on Twitter @otherside_wiki