January 18, 2023
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This interview was originally published by Genfinity.
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King Solomon interviews NFTier as part of the Hedera Corner in the LightHouse by Genfinity! Brought to you by LightHouse Report sponsor Hedera Hashgraph and in collaboration with our partner and Hedera wallet provider HashPack.
Genfinity – King Solomon – Founder & CEO
What is up, everybody? Hope you guys are having a fantastic day. As you guys know, through Genfinity, in collaboration with HashPack, in our Hedera Corner, we are doing multiple interviews across the entire ecosystem today. Super excited to have Michael Kantor, who is the founder of NFTier. Or how is it going today, Michael?
NFTier – Michael Kantor - Founder
It's going great. Uh, thank you on behalf of NFTier for you know, having us and giving us this space. It's really awesome that you are doing this.
Genfinity – King Solomon – Founder & CEO
Yeah, 100%. I mean, these have been great interviews. I'm excited to talk with you guys. Uh, you know, maybe just give a little bit of a background. Um, you know, how did NFTier start, and then maybe kind of a brief overview uh as well about you know, some of the services that NFTier uh facilitates.
NFTier – Michael Kantor - Founder
Yeah, I'm happy to do that. NFTier honestly started as a happy accident. Um, I said this story a few times, but I think I have started my own NFT journey for the first time on Avalanche, which is far and away from Hedera. And I had at that time minted my first NFT collection. And my kind of initial question after I had minted it is how do I know how rare this thing is? How do I see the attributes? At that time, the process was like you go to a marketplace like NFT trade, and then you wait. And the metadata might show up, might not. Then you wait again for the intro, but then you click a button that says refresh metadata. Okay, you can see the attributes now, and that's about it. Um, but you don't really have much more information. There were some players on Avalanche at the time that did Rarity and things like that, but it wasn't a simple process to get listed. It was like a coveted thing like you know, uh, the same way it is on Ethereum with Rarity sniper. You have to pay a couple of if just to have them do your Rarity. Um, I wanted something easier. And I was also curious about developing on web3 because I've been you know purchasing tokens and crypto and things like that for so long. I just wanted to dive in. So I thought, how hard could it be? Uh, in a day, we had our first Chrome extension up, and that was the start of NFTier. There was no website, no app, it was a Chrome extension. And the only thing that Chrome extension could do was I could see the Rarity from this one NFT collection called the trips on Avalanche. Um, eventually, folks, you know, they like that, they download it, they wanted more collections. So we started doing more collections on Avalanche. Eventually, people wanted collections on Phantom and things like that. So we started doing Phantom. And then, at some point, um, we wanted the ability to kind of like share your NFT on Twitter. And as crazy as it sounds, there's no way to directly like share an image onto Twitter without having like a website because you need like those OG meta texts that come on the websites. Um, meta information. So I thought, okay, how do I solve this. So we made the first run at our website. And at that time, the only feature the website I had was to show a single NFT that was it, and the whole purpose was just so you can share link from the Chrome extension and put on Twitter. Um, eventually, that kind of grew. You had more functionality and more features people wanted to see every NFT in the collection at once. Um, so that's kind of how we started doing Rarity with things at that point. Um, for a wider audience, and the thinking, you know, going back to that first collection that I had minted. It shouldn't be so difficult to get Rarity. It should be like easily accessible. Um, so that's when we started kind of building out an automated hit process. Today, there's two ways to get listed really. There's a verified path, and you can just go on our website. There's a get listed link. Uh, you just apply. It takes about two minutes. You plan all your information, and we work directly with collections on Rarity in that aspect. Who do fill out that form. You know, for example, if you want things weight higher, lower, you have specific trades. You have maybe you minted your collection or you're missing metadata and things like that. Um, so it will work with you, and we'll generate your metadata in that case. Um, the other way is the unverified path. Uh, so we have indexers for Avalanche, Phantom, and Hedera that just run basically 24/7 looking for collections that pop up. They pick up the collection and it runs through the Rarity automatically using our Rarity algorithm. Uh, today, you know, going off, and we're kind of like humble beginnings. We have a Chrome extension, a mobile app for Android and iOS. Then we obviously have our website. Um, and through our website, you can track Rarity, you can print your NFTs onto the shirts, stickers, and canvases. You can mint NFTs through our launch pad. Um, and our newest offering which we're most excited about is Advanced analytics. Uh, starting on Hedera, where you can actually see ecosystem-wide NFT analytics. Um, so that's kind of how we started and how we got to where we are today.
Genfinity – King Solomon – Founder & CEO
That's fantastic. No, I mean, you touch base, I know from the site, Omnichain, Avax, Phantom, Hedera, Um, Cardano, as far as Partnerships and collaborations, like a real maybe dive a little bit down into uh some of the products and features that you guys do facilitate. So from a collaboration standpoint, um, and featured collections, how many featured collections do you guys have um within NFTier right now, and if it's like Ballpark, and what does that look like for the projects that you're you know, I'm assuming working with you know, in a more hand-to-hand type way with those features.
NFTier – Michael Kantor - Founder
Initially, our featured collections was kind of something that we handled internally based on partners who did support us, um, who you know, retreated our stuff, worked with us, etc. Um, but now we're actually moving to a more kind of decentralized approach. Uh, we feature 12 collections at a time through that feature collections tab on our navigation and on the home page. Uh, but we index over 2,000 uh collections on Hedera alone. Which means you can find any collection that we've indexed by just using the search bar, but the ones that are featured, uh, going forward will be kind of decentralized process, and that's through a quarterly governance vote. So, our governance vote actually kicked off today for the first time, um, about an hour ago. So, if you own a uh Wokefemmes NFT, then you're able to partake in the governance process and actually vote for one of uh, about 28 collections that I believe that submitted proposals to be on the governance vote. Um, and the top 12 from the governance vote will eventually be featured on their website. Those featured collections will show up in a nav bar on the home page, and they'll have like a featured badge on their collection as well.
Genfinity – King Solomon – Founder & CEO
That's awesome. Um, love moving towards kind of the decentralized process and the governance aspects. So, really cool that you guys are rolling that out. Um, I kind of want to just run through the list here. So, like from a launchpad standpoint, um, as far as what that looks like for a project that may be interested in launching with NFTier, um, maybe give us a little bit of an overview of that process, and then can you go over how many launchpad partners you guys have had so far?
NFTier – Michael Kantor - Founder
Yeah, um, so the process is pretty straightforward. If you go to our navigation, there's this launchpad listing page. Um, all of the pricing and everything is completely transparent. These are the same prices that we charge mostly everyone unless you have like really specific requirements that require more effort. Um, we even have a calculator on the page as well. Um, so you fill out the form on their page, you complete the application, and then we review it. The things that we're kind of looking for is one is it a legit collection? Is the art like counterfeit or anything like that? So, look at the art, we check if there's already an existing collection that has that are not just on Hedera but other networks as well. We check your background to see if you're legit. We check if you're not doing anything like weird or illegal with the collection. You know, just got a daughter eyes and tease. Um, and then uh, we'll kind of meet with you. We offer kind of two options, you can be a verified collection or an unverified collection. So, verified collections are actually kyc'd. We use Global Ideas or kyc provider which enables us to kind of see that you're a legit person. We don't share that information with anyone, but it just gives us that extra you know, like check to know that you're a verified uh collection. So, once we see your application kyc, we're in preview. We usually will list the partner within a week. Uh, it's a really straightforward process where we kind of handle everything from uploading your metadata to putting up the smart contract and creating the token. Um, our launchpad right now offers a lot of customization around like the banner image, the image you have on the main page, you can customize what utility you offer. Um, and we offer as well additional four pricing's here, so you have like a public list and allow the secondary level of some discounted lists. Um, so collections oftentimes get really creative with how they want to do their launch. We've had some launches where they go for like three separate days with each different pricing tier. We've had some span over the uh account of like an hour between their allow list and their public mint. Um, so we try to work with collections as much as possible to kind of like meet the requirements on that side.
Genfinity – King Solomon – Founder & CEO
No, no, that's fantastic. I think that gives us a ton of insight into the Launchpad aspects. One of the really cool things that I saw that you guys were doing is um, kind of the TA aspect for or technical analysis aspect for NFTs as far as being able to potentially chart within that is that part of the advanced analytics? Is that part of a free service that you guys are offering? How is that going to work because I think that's that's pretty pretty slick.
NFTier – Michael Kantor - Founder
Yeah, that's part of advanced analytics. I can actually demo that for you right now if you're interested.
Genfinity – King Solomon – Founder & CEO
Um, so sure, go ahead, I allowed you to share screen if you want to share screen.
NFTier – Michael Kantor - Founder
Well, I will just pull up a collection real quick. Can you see my screen? Yep, cool, uh, so this is Advanced analytics. Um, Advanced analytics goes into kind of uh, multiple tiers of functionality. Yeah, no, no, pun intended. You have like the ecosystems here where you can see all of the data related to like the Hedera ecosystem as a whole. You can also dig into an individual collection. Sorry, I have no idea what's going on with this call. Um, so you can dig into the entire ecosystem. You can see the market cap, the volume, sales, holders, etc. I won't dig into each individual chart because it'll probably take me an hour to just go through everything. Um, but I'll give you a brief overview of what you can see as a first time user. Traders, holders, uh, average, uh, P&L, um, across different time periods.
Genfinity – King Solomon – Founder & CEO
Uh, wow, I mean there's a lot in here, this is awesome.
NFTier – Michael Kantor - Founder
Yeah, we spend, um, I think close to six months iterating on this. Uh, since we launched the Wokefemmes collection, we've basically been working full-time at Advanced Analytics. Um, you get a marketplace breakdown, uh, which is pretty cool. We actually had these pie charts very very early on, but we chose not to display them because it was like 90 Zuse Marketplace, but now it's gotten really interesting because you can see a breakdown from some of the other marketplaces that have been popping up, uh, Sentient, HashGuild, and we've even got Secure Trades in here as well. And then you can see a distro of market cap by collection and volume by collection as well. Um, there's a lot more in each of these tabs, but since we're a bit conscious of time, I'll jump into your initial question which was around a technical analysis. So, if you go into any collection from Advanced analytics, you can find them by going into this collections tab where you can use the search bar and then you just click the one that says Advanced analytics. Then you can kind of scroll down over here and then you can see that that collection has like a TA chart that you can play around with. So, we've got this down by the hour interval. I think hourly might not make sense for a lot of NFT collections, so maybe four hours. And you can use literally hundreds of indicators that TradingView ships. Would actually create charts, Mac fee and make across whatever you want really.
Genfinity – King Solomon – Founder & CEO
Yeah, I think that's great. I mean it's it's super cool to see. I mean especially as the ecosystem grows as these, you know, as the NFTs even grow more liquid, um, more marketplaces and more trading and things like that. I think this is going to be an awesome tool. It's an awesome tool right now. I was really impressed when I saw that you guys rolled it out. Um, yeah. So, I mean, you can go through a couple more of the things here if you want to. Uh, if you have time. I mean, I would love to see it. I think the community would love to see it too. If you want to.
NFTier – Michael Kantor - Founder
Yeah, I'm happy to. There's a lot of really cool things that we've built here. Um, and with the TA, we actually have the ability to go down to the 15-minute marker. Just wouldn't make any sense right now, like you said, it's not liquid enough. And you can see we're tracking volume on top of the floor price as well that's getting mapped over here. Maybe they'll step back and I'll go into the overview. Um, we covered some of this in other videos. Um, so I'll try to point out the most interesting bits that that you might be excited about. Um, so we have this collections view over here where you can sort and find from over the 2000 plus tokens that we have indexed from Hedera about I believe 800 of these actually have a floor price and are trading. So, a lot of them are either like garbage tokens, passes, whatever or something like that. Um, and you can sort by volume, one day, seven day, etc. You can also search by collection name. So, if I want to find the Woke Femmes for example, I can locate it over here, and then I can just pull it up. Um, I can get to that collection from that view. Um, we also have this uh trending mints tab, so like collections, we're also indexing mints from those collections in, I won't say real time, but close to real time, probably every 10 15 minutes or so. Please get in there so you can see a seven day view, you can see a one day view of things that are actively getting minted in the ecosystem right now. You can see the total mint value, uh, the average rent price. It's average specifically because you know when you're missing a collection, there's usually multiple prices here. It's like if you're on a while list or a discount list or free mint, you might get a different price than other people do. Um, so rather than putting the mint price which would be completely inaccurate, we put the average min price. You can actually see you know as a mintor if I'm going to miss a collection am I getting games here on what are 90% of people getting a price that's like lower than mine what's the deal with that. Um, so you can get that information by coming here. You can also see how many unique mentors there are for a collection. Typically, you want the unique number of mintors to be high or you know like if there is let's say a collection.
Genfinity – King Solomon – Founder & CEO
You want a distribution as far as spread out from a wallet standpoint.
NFTier – Michael Kantor - Founder
Yeah, absolutely. Um, for the partners that we do work with we also have links to their individual launch pad so you can see what launch pad those mints are coming from. Um and things like that, so that's the uh trending mints Tab. And with all of our data, we also have like this export button so you can actually pull this out put into a CSV and do whatever you want with that data afterward. Um, we have a whale tracker so the way the whale tracker works is it's not by uh Hbar balances by your portfolio value. So it looks at all the NFTs that you have on your account and then comes up with a portfolio value based on those NFTs. Um, and you can sort by lowest highest balance total number of nfts the amount of volume they have in terms of buying or selling how much they've minted. Like you can see this account even though it's ranked 65 has like the highest amount of then volume I think in today's numbers maybe that's like close to 10 grand worth of mints which is crazy. Um, any questions on these so far?
Genfinity – King Solomon – Founder & CEO
No, I'm just watching because everything that you guys have built looks really cool so just gonna let just kind of letting you roll with it and go going through everything because it's great. All the tools are gonna are fantastic for um from an advanced analytics standpoint for the people that are using. I mean this is great it's awesome.
NFTier – Michael Kantor - Founder
Um, Coming into trending sales this one might take a minute to load here we go. Um, so this tab is pretty simple it's just literally looking at what sales uh we've had in the last seven days that are the highest in value. Uh, so we can see that dead pixel is still on the way up we still got um the Cyber Hedera nfts at the top and the founders cards. Um, so if you're like coming into the ecosystem and you're curious what should I buy that's you know probably still going to be worth a lot you can come in here if you're curious or if you want to get on a bandwagon or something like that.
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