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Coinsilium portfolio firm to release NFT analysis tool

Coinsilium Group Limited (LON:COIN) said its portfolio company and advisory client Indorse is planning a public alpha release of Nifty Scanner, a digital asset analysis software solution for non-fungible tokens (NFTs).

The blockchain and open finance venture firm said the Nifty Scanner will scan NFTs and provide detailed essential background information on how and where the assets associated with an NFT are stored, saying that while such data is available on the blockchain it is not always published with the NFT.

READ: Coinsilium updates on partnership discussions between Nifty Labs and Indorse

The solution is aiming to solve the current issues with the verification processes for NFTs by being able to gather information on the tokens into a section called the “On-Chain spectrum”.

Looking ahead, Consilium said immediate next steps will be to make Nifty Scanner compatible with several popular NFT platforms and market places, adding that there are also plans to integrate Indorse’s IND token and its IND-powered validator ecosystem into the extension.

Once Nifty Scanner completes the alpha testing phase, the group said it will be able to “move seamlessly towards the beta testing phase and then begin work on broader marketing and commercialisation”.

Shares in Coinsilium were trading at around 12.5p on the Aquis Exchange in mid-morning on Wednesday.

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