Decentralized appraisal tool for NFTs.
Abacus is a decentralized appraisal tool for NFTs. The world of NFTs is currently introducing a new form of art, ownership, and value to the world all at once. The derivation of value from a specific NFT is skewed and changes depending on the person evaluating it. As we see the Web3 ecosystem continue to thrive and become more reliant on NFTs representing different forms of ownership (i.e. Land in Decentraland, Mirror participation, Crypto Punk/Meebit ownership, etc…) there will be an increasing demand for a method of assigning value to these items. Taking this idea of “assigning value” in Web3 a step further, this value is derived from the question of “How much is the community willing to pay?” and, therefore, this valuation should be done by the community as a whole. In comes Abacus, a protocol that allows the community to value any past, present, or future NFTs. Abacus operates on the Ethereum blockchain and introduces the ABC token which drives the tokenized incentive through profit distribution mechanisms to coin holders.