NFT Inspect, a Web3 social intelligence platform that specializes in NFT market analysis, has said that it is back in business, via a tweet on March 24. Previously, NFT Inspect announced on January 4 that it would be shutting down its operations entirely on January 17. .
However, the team said the shutdown might not be irreversible. “We are very grateful for the outpouring of support that followed our recent announcement. Various parties have submitted alternative solutions to our original closure plan. As such, we are deferring the closure to allow those talks to continue,” NFT Inspect noted on January 11.
While it’s unclear why NFT Inspect decided to get back on track now, the community was very supportive and offered to help. For example, Twitter user @Hantao, co-founder of QU3ST_io, offered to use the project’s technology for some Web3 games in development. Another Twitter user, @elliottradesa developer at SuperVerseDAO, offered undisclosed help to the NFT Inspect team.
NFT Inspection Market Outlook
He advertisement reopening the NFT Inspect operation has drawn a lot of attention from community members, as the Twitter comments section shows. NFT Inspect brought together over 1,000 NFT communities and generated over 175,000 new NFT connections during its first term.
NFT Inspect highlights NFT collections and provides crucial data including the total number of NFT holders, minimum price, total volume, and total items in each NFT project. Additionally, the NFT Inspect website provides a collection comparison feature to help users analyze different metrics, including social media following and uniqueness, among others.
According to experts, NFT Inspect has the potential to revolutionize the global NFT market as it uses artificial intelligence (AI) to enable NFT enthusiasts to explore digital works of art on Twitter.
The cryptocurrency winter of 2022 wiped out several very large crypto projects. Additionally, the global regulatory crackdown on cryptocurrencies significantly discouraged many development teams, resulting in shutdowns and rug pulling. As a result, some crypto projects with potential growth prospects were forced to reduce their workforce, raise more funds, or partner with other projects in order to survive.
With the ongoing global banking crisis, which has seen three regional banks in the United States collapse in a matter of weeks, investor confidence in the blockchain, digital banking and cryptocurrency industries has been on the rise. As a result, the flow of money to the altcoin market is expected to increase, which includes the non-fungible token (NFT) industry, which is the main niche of NFT Inspect.
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