Upshot is a blockchain-based protocol that provides industry-leading non-fungible token (NFT) appraisals at scale. It delivers real-time, machine-learning and expert-sourced appraisals and cites industry-leading accuracy metrics, including its appraisal of the Sotheby’s Bored Ape Yacht Club batch auction. The company offers Upshot Analytics (currently in private Beta) and an API that is already being used by teams. Upshot plans to use the newly raised funds to continue R&D on its pricing models and to aggressively expand its team. The financing will also help Upshot develop novel DeFi x NFT primitives and build developer tools so others can leverage its price feeds. The company positions its appraisal technology as a solution to NFT pricing challenges and a foundation for DeFi use cases such as arbitrage, liquidity, leverage, and risk management. Upshot operates a blockchain protocol that rewards experts for providing reliable, credible answers to subjective questions using a novel algorithm. Its first product, Upshot One, is designed to produce efficient, near real-time appraisals and price feeds for NFTs to address inefficient NFT price-discovery. The protocol lives on the Ethereum blockchain and aims to unlock new DeFi products by enabling on-chain valuations of NFT assets. Upshot positions its system as a more capital-efficient, non-market mechanism that does not require assets to change hands to be priced. The company is currently in Beta and is gradually opening more spots to users and appraisers. Upshot announced a $7.5 million Series A to support its growth and product development.

Total raised

$30M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2022