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Overview

 

These days, NFTs are making a splash in the market by providing people with a new option to acquire assets. Between the second and third quarter of 2021, NFT trading increased 700% ($10.7 billion) according to DappRadar. Whether they’ve been used for exchanges or as investments, NFTs have been applied to various fields, including science, technology, and art. With NFTs becoming more popular, RMDS Lab is announcing its next data science competition - Creating a NFT Value Dashboard to Summarize the Past and Predict the Future. Contestants will be challenged with collecting datasets to create a dashboard that assesses trends in the development of NFTs and forecast their future trajectory.

Contestants who complete and submit their project will receive a FREE, one-month premium membership to GRMDS platform as well as a certificate of completion.

For contestants in High School:

For contestants NOT in High School:


 

Contestants will be challenged to perform data analysis with the datasets provided. Contestants are also welcome to research to get more data utilized in the submission. Through data research, analysis, feature extraction, and modeling, contestants should reach solid and meaningful insights or forecasts about the NFT industry and transactions. Based on various studies, our contestants are expected to develop an analytical dashboard to showcase the business insights discovered in a way that is easily understood by investors and simple for them to implement to stimulate NFT investment improvement.

We would develop a dashboard as an example that our contestants could take advantage of and continue improving on it. Surprise us with your ideas!

Sample Research Questions

NFT investors and buyers may want to know:

  • What types of NFTs are higher valued than others?
  • What types of NFTs have their values going up?​
  • What science & tech NFTs are popular?
  • What types of science & technology IPs are in demand and enjoy a value uptrend?
  • Can we build a financial/ML model to forecast the price of NFTs encrypted by ourselves?
  • Which cryptocurrency is trending recently?
  • Why could some NFTs be sold at a huge price?
  • What types of NFTs are most encrypted by the general public?
  • What are the main differences in NFT transactions among some major marketplaces?
  • What's the best listing duration for a timed auction?
  • What’s the most acceptable price range for our listings to finish a deal?
  • How do you predict the future of the NFT transactions?

All perspectives are welcome! Show us your most valuable insights from your innovative data analytics.

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NFT Competition Timeline


*Ceremony postponed due to overwhelming response. Will update date soon. Sorry for any inconvenience.

Dataset Overview

Participants will need to use the dataset provided below to perform their analysis. This dataset contains the information of 16,000+ NFTs from Opensea. It is published solely for the use of competition, we are not recommending using it for other purposes.

There is also a recommended page for contestants to get access to some dashboard creation resources. Participants are encouraged to research and get more open data to make their analysis more sensible and innovative.

⚠ You have to sign in to see the recommended page or download the sample dataset. The data would be available for downloading after the competition begins at April 1.

 

 


The datasets provided are:

1. ASSETS
Each row represents a specific NFT item. It includes features like name, description, and asset category.

2. EVENTS
Each row represents a specific event about NFTs. It includes features like event type, auction type, and duration.

3. COLLECTIONS
Each row represents a specific NFT collection. It includes features like created date, description, and average price.

 

 

Resources

RMDS Lab offers our community a variety of educational resources focusing on data science applications and techniques. You may explore the RMDS learning portal containing various data science courses at learn.grmds.org.
 

Below are additional free resources:

If you have any questions regarding access to training materials and want to learn more about RMDS educational resources, you may use the Forum.

 

Submission Deliverables

 

  • Technical report in PDF with names of all team members and team name required
  • Datasets used in .zip folder required
  • Readme on how to run your code and requirements.txt on your development environment required (except for high-school students)
  • CSV of results (Optional)
  • A working prototype like map, web page, apps, Tableau, Excel (Required if no codes submitted)

All submissions will automatically become an analytical asset that can be used to enrich each contestant's data science portfolio at GRMDS.org. Contestants can also take part in an exchange for other analytical assets or services by using the RMDS Exchange at the GRMDS.org platform.

Evaluation

Impact: What useful business insights are acquired from the proposal? How does this submitted model benefit (or cost) businesses, and what actionable steps are recommended to improve their work?​

Methodology Valdity: Document the methodology, mathematics, and economic principles behind the proposal and provide the references or reasoning for your approach. How is the prediction generated and how are the factors weighted sensible? Are the assumptions and limitations of the methodology clearly outlined with suggestions to improve the proposal? Are the quantitative steps of data ingestion, feature engineering, model architecture, and performance optimization valid? How robust is your model?

Reproducibility: Does the solution use coding best practices with workflows and documentation to reproduce one’s work? Are the data ingress and egress pipelines reproducible? Is there a clear presentation of data science work in the documentation?

Usability: Is the information presented in a way that is actionable? Would a member of the general public understand the model, what it means, and what actions to take?

Ability to Deploy:Is getting access to the data realistic? How long is the computation time? How well is the scalability of the system to accept new data sources? How often does it need to be maintained? Is it    hard to maintain/update? How much manpower, time, resources are needed to be allocated to maintain the functionality?

Fair and Ethical Use of Data: Does the solution consider biases in data? Is the data from open and trusted sources?

Innovation: Will the idea have a big impact? How innovative is the approach, selection and weighting of various factors, or how information is displayed and communicated?

Guidelines

 

Stage 1:  Registration

 

Participants will register on GRMDS. We will send out a confirmation email to all participants upon successful registration. Once you form your team, one representative from your team must fill out the Team Registration Form. Please note that this competition is open to all participants globally. For any questions you may ask it on the Forum.

 

Stage 2:  Team work and submission

 

Submissions must include all deliverables and are due Sunday, April 17, 11:59 PDT. Please upload all deliverables to the GRMDS. Place the names of all team members and team name on the technical report. Submission by any individual group member will represent the whole team.

 

Stage 3:  Evaluation and Final Presentation

 

Our expert committee will evaluate all project deliverables and select the finalist teams at the Awards Ceremony.

Prizes

 

First place badge

 

First Place


$1,000 + Certificate
 

Complimentary six month premium membership at RMDS ecosystem ($240 Value)

Second Place badge

 

Second Place


$500 + Certificate
 

Complimentary six month premium membership at RMDS ecosystem ($240 Value)

High School Award Badge


High School Award


$500 + Certificate
 

Complimentary six month premium membership at RMDS ecosystem ($240 Value)

Rising Star Award Badge

 

Rising Star Award


Considerations for internship positions at RMDS Lab + Certificate

Complimentary six month premium membership at RMDS ecosystem ($240 Value)


 

Winners will also be considered for publishing opportunities with our partners.

 


Code of Conduct

 

The use of data will adhere to ethical use and protection of individual data privacy. Find the Code of Conduct here.

 

Frequently Asked Questions

How do I register?

Registration will become available on this website on January 31, 2022

How do I form a team?

Participants are welcomed either as individuals or as teams. In the case of teams, one person must be designated as the team leader and will be solely responsible for communications with the organizers. If you are looking for teammates, advertise your interest on our Forum

How do I make submissions and what are the deliverables?

Submissions can be made here. See above section “Submission Deliverables” to see what must be included in your submission.

What is the deadline to register?

There is no deadline for our registration. But we strongly recommend that your registration is no later than October 27, since you need time to prepare your work.

How does the number of team members impact potential cash prize offerings?

The number of team members will not impact potential prize offerings. The prize offerings will remain the same.

Can teams comprise members from different cities/countries?

Yes. We welcome people from different cities or countries to join our competition. This competition is open to the global community.

How do I get in contact with the organizers?

If you have any questions, you may ask in the Forum. We’ll get back to you as soon as we can.

I already registered my team but need to update my team info. What should I do?

If you need to update your team roaster, please submit the registration form again with all the team members information./p>

What training material do you have to help my team get started?

Please see resources listed on this page, including recordings of competition training sessions. There is also a dataset sample, data dictionary and further reading material.