artsted
Artificial intelligence algorithms to help predict NFT values: an interview with Maryna Rybakova, CEO at Artsted.com - Vents Magazine
On your homepage at Artsted.com you say "to use AI to help identify tomorrow's blue-chip artists". Could you please expand on the use of AI? How does your technology work? So, it would be fair to say that our AI model is currently being tested as we are having more users join the platform and therefore more data to perfect it. The data to train the initial evaluations algorithm was taken from open-source auction house records (openly available auction results published directly on major auction house websites so we could match a market performance to a database of 400.000 artists. As a result, our proprietary algorithm (a unique algorithm, built entirely by our development team – based on the publicly sourced data) works the same way, reacting to the "trigger" data input, that artists provide, that the algorithm goes on to consider as significant for their career: an article in Artforum, a solo show in a mid-tier gallery, a selection for a biennial, an art prize shortlist are a few examples of the categories of data that influence the end result.