Coinsilium Group’s Indorse launches NFT analysis tool

LONDON: Coinsilium Group Limited’s portfolio company and advisory client Indorse Pte. Ltd. has announced the public alpha release of ‘Nifty Scanner’, a digital asset analysis software solution for Non-Fungible tokens (NFTs).

Indorse is a Coinsilium equity portfolio company and advisory client. Coinsilium currently holds a 10% interest in the issued share capital of Indorse.

Coinsilium also holds approximately 5.3m IND tokens representing approximately 14.12% of the current IND circulating supply. As announced on 2 March 2021, Nifty Labs, the Company’s wholly owned Gibraltar subsidiary, entered into an MoU with Indorse to form a Partnership in order to launch a Non-Fungible Token (NFT) technology development studio in Gibraltar.

Indorse announced the public alpha software release for the ‘Nifty Scanner’, digital asset analysis tool. Nifty Scanner is a browser extension and is now available on Google Chrome, Mozilla Firefox, Opera and Brave.

Nifty Scanner ‘scans’ Non-fungible Tokens (NFTs), and provides detailed essential background information on how and where the assets (the media and the metadata) associated with an NFT are stored.

Coinsilium Group to establish Gibraltar NFT Technology Studio

This data, whilst publicly available on the blockchain is not always published with the NFT in an apparent manner. Currently, Nifty Scanner is compatible with the OpenSea marketplace and will shortly be compatible with other popular marketplaces as well.

Indorse’s team of experts have analysed the top 30 NFT projects globally. Where necessary, they have come up with some recommendations as to how their security and privacy can be improved.

“Whilst we can reasonably assume that most NFT projects would have started with the best of intentions, it is essential to bear in mind that the privacy and security of any given NFT will only be as effective as the elements of decentralised blockchain technology incorporated into its original design and build. It is pretty clear that many projects do not currently aspire to the levels of decentralised ethicality needed to provide the privacy and security that blockchain technology was designed to provide,” a news release said.

The immediate next steps will be to make Nifty Scanner compatible with a number of popular NFT platforms and marketplaces. “We are also working on plans to integrate the IND token and the IND-powered validator ecosystem in this extension – though we would stress that this work is currently at the nascent ‘modelling’ stage”.

It is important to note that Nifty Scanner is currently at the alpha testing phase; with its current release to partners and the Indorse community. This is an essential first step, which, once complete, will enable us to move seamlessly towards the beta testing phase and then begin work on broader marketing and commercialisation.

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