Our rebrand comes alongside a large update to our app that shifts our focus to holistic NFT ratings with improvements to our UI, search, rating algorithm, and more.
FungyProof was born with a narrow product focus in mind. We set out to help people understand how their NFTs were built and where their data is stored with the use of an intuitive A-F grade. Through extensive research and amazing community feedback, we’ve discovered that understanding the technology behind an NFT is important, but it simply isn’t enough to improve decision-making processes.
Market sentiment has changed, and scams and bad actors run rampant. Without assistance or hours and hours of research, NFT users commonly get taken advantage of. Extending our focus to broader NFT ratings gives us the opportunity to help.
Skry is our next step. We are expanding beyond simple technology and fungibility reviews into comprehensive NFT ratings. Our rebrand embodies this expansion with a new focus on empowering everyone to make data-driven decisions about the decentralized assets of the future.
Despite most of the web3 ecosystem being built on public blockchains, information asymmetry is a serious problem. Understanding blockchain-backed assets requires deep knowledge of blockchain technology and countless hours of research. This research involves digging through convoluted interfaces like block explorers, spending hundreds of hours deep in discord communities and social media, and reading in-depth technical white papers and road maps. As NFTs mature, this complexity will continue to grow, and those unable to keep up are at risk of getting scammed and missing out on opportunities.
To overcome this problem, the web3 ecosystem desperately needs ratings infrastructure. Ratings are abundant in traditional markets, from the Big Three (Moodys, Fitch, S&P) to consumer star reviews. Ratings improve issuer accountability, reduce information asymmetry, and make discovery simple and intuitive for everyone. Until now, this fundamental piece of infrastructure has been completely missing from web3 markets.
In alignment with this new product focus, we’ve launched an extensive update to our app.
We’ve changed the UI to set up the app for future features and to improve the NFT search experience.
The Skry experience is now focused on collections rather than individual NFTs. This simplifies the experience and makes it easier to browse.
Our rating algorithm has been improved. We’ve added more data points, adjusted weighting, and implemented a more robust real-time grading engine.
Our new search tools make it much easier to find the NFTs you may be interested in. We’ve added filters such as grade, hosting service, smart contract mechanics, various tags, and more, with others on the way.
Additionally, we’ve implemented Catalogs that highlight specific features or qualities many people are looking for. We will continue to add more based on feedback from you all about what you’d like to see.