The NFT ecosystem has evolved more in the past two years than since its inception, way back in 2014. Although the NFT boom has not been sustained for too long, it gave some valuable insights into how Web3 adoption should occur. As of writing, the NFT market has entered a stabilizing phase, with signs of growth spotted as these tokens have delved toward providing real-world applications. The role of NFT aggregator APIs is highly crucial in accomplishing growth, as these platforms tend to cater to the broader trading-minded NFT enthusiasts. Let us see more on these aggregation platforms in the blog.
NFT Aggregator API: An Introduction
An NFT aggregator API is a platform that offers real-time analytical data on the NFT market. These platforms typically provide access to NFTs present across marketplace platforms so that users can check details, find differences, and trade NFT items effectively at reduced costs. The application program interfaces in these aggregators allow people to derive data related to any NFT product for managing and processing businesses. Data in these platforms can be checked based on topics such as marketplaces and collections. Gem.xyz, Genie.xyz, NFTGo.io, and Blur.io are popular aggregator APIs for NFT applications in the current day.
The Need for NFT Aggregation API Platforms
Even though NFT aggregation API applications are used to gain access to valuable data, their use cases are not well-known in the community. These platforms can offer users information on different NFT collections for extensive analysis before making a purchase. Such research is deemed necessary as the same NFTs cost differently across marketplaces due to varied fees, along with the varying costs incurred for transactions on different networks. For developers, these APIs help to generate all NFT-related data, including metadata, transfer data, ownership history, and pricing history, enabling them to integrate these virtual tokens into their ventures more easily than before.
General Metrics Measured by the API
- An NFT aggregator API measures market capitalization value over a period of time for all NFT collections that can be accessed within a few clicks.
- Trade volume denotes the value of NFT trades occurring in the aggregator platform in the chosen time range.
- The number of holders of all NFT collections tracked by the API software.
- The number of traders selling/buying NFTs of the collections tracked by the aggregator.
- The number of unique buyers who bought NFTs over a selected time frame.
- The number of unique sellers who sold NFTs over a selected time frame.
Advanced Metrics Measured by the API
- Market sentiment provides insights on an NFT collection based on various variable metrics, including volatility, trading volume, social media traction, and search engine trends, which will be updated periodically.
- Profits and Losses provide the actual profit values generated by NFTs upon selling and estimated yields based on speculative data.
Both these stats can help analysts better understand the movement of an NFT collection, thereby enabling them to make or avoid a move on an NFT item.
“Pressing Hard on NFTs is Necessary to Avoid Them Being Solely Speculative Assets!”
Collection-specific Metrics Measured by an Aggregator
- Floor price denotes the real-time lowest price that an NFT from a collection has been listed.
- Average price denotes the average selling price of NFTs from a collection over a selected time range.
- Sales provide the number of transactions occurring for NFTs of a collection over a predefined period of time.
- Intensive range offers insights into the price range where most NFTs of a collection are listed for sale.
The above statistics can be helpful for individuals to know the traction of an NFT collection across marketplaces to enable them to decide whether or not to buy an NFT from the collection.
Mint-specific Stats Provided by the API
- Mint activity provides insights on the number of mints, total mints, mint volume over a time range, total mint volume, mint trends over a time range, and the FOMO (Fear Of Missing Out) factor.
- The mint time offers data on the mint duration and the time of the first and last mints.
- The mint price gives data on the latest mint prices and the average mint prices throughout the NFT mint.
- The minters section provides statistics on unique minters and people with special status in the NFT world who minted NFTs from the collection.
- Mint gas fee offers information on the gas fee spent on minting the collection’s NFT over a selected time range and the total gas fees paid by minters to receive the NFTs.
“Ideate! Create! Mint! Trade! Spread! Repeat!” has been the Mantra of Most NFT Businesses.
Some Advanced Features We Integrate into Aggregator API Platforms
- Whale tracking focuses on tracking the trading behavior of big-time NFT holders (people having NFT portfolios of more than a million dollars).
- The drops calendar offers information about upcoming NFT drops occurring around the marketplaces that the NFT aggregator API supports.
- The rarity model provides insights into an individual NFT’s rarity among the collection it belongs to, thus helping holders/prospective buyers to make informed decisions.
- Wash trade filter assists in offering statistics about an NFT collection after filtering out suspicious wash trades.
Blockchain App Factory: The Ideal Destination to Develop Aggregator APIs
If you have read till here and are interested in exploring a business using the NFT aggregator API model, you are in the perfect spot. Blockchain App Factory is one of the leading firms in creating ingenious aggregator API software for NFTs, and there are a plethora of reasons to choose us, including:
- Proficient Blockchain Developers
- Creative Consultants
- Expert Analysis Team
- Advanced Technological Stacks
- Multi-chain Compatibility
- On-time Delivery
- Economic Pricing
- Anytime Technical and Non-technical Support
Fill out the form below to discuss the prospects of launching your own NFT API aggregator platform with our professionals!