What is Inspect (INSP)?

Are you a crypto investor who looks to X (Twitter) for information on crypto projects? If so, then Inspect could be one of your must-have tools. This X-focused SocialFi protocol can provide various data and insights related to a crypto project, even NFTs. Want to know what Inspect is? Are you curious about how it works and the features it offers? Find out the answers in the following article.

Article Summary

• 🐦 Inspect is a Layer 2 protocol that allows users to explore the world of crypto and NFTs through X (Twitter).
• 🏆 With Inspect, users can get real-time crypto and NFT data directly from X. It displays price movements, market data, and related news and offers additional features such as Inspect Apps and Inspect Pro.
• 🪙 The INSP token is the native token in the Inspect ecosystem. It serves as payment currency as well as Inspect DAO’s governance token.

What is Inspect?

Inspect (INSP) is a Layer 2 network innovation built for X (Twitter). It is a SocialFi protocol that allows users to explore crypto and NFTs through their social media ecosystem. So, Inspect acts as a real-time data and analysis tool.

By using Inspect, users have a tool to learn and track information about a project. It displays the latest crypto news, crypto statistics in the last 24 hours, crypto trends, and alpha insights. In addition to crypto data, Inspect also provides NFT data.

Inspect aims to create a dynamic space for users where social networks can be integrated with crypto. Inspect has the potential to reshape the dynamics of interaction between crypto and social media platforms like X.

Pintu Academy has prepared an article that digs deeper into the decentralized social media sector here.

How does Inspect Work?

To access Inspect, users only need to download the Inspect Chrome Extension via the Chrome Store. Inspect is a free app, but some premium features are only accessible to those who subscribe.

Once downloaded, users need to connect it with their X account. Then, the Inspect button will appear next to various X accounts such as Solana or Cosmos official accounts. Inspect claims the app has tracked more than 20,000 crypto projects. Users can instantly get all the relevant information by pressing the button without leaving X.

After pressing the inspect button, a page displaying various information related to the crypto project will appear. Users can access a dashboard showing price movements, market data, trading volume, watchlist, and news page.

Apart from crypto, Inspect can also automatically detect Ethereum and Solana NFTs. It will display detailed information about an NFT project, such as the current owner, last sale price, rarity rank, and other important information. Users can also bid on a collection and then be directed to the relevant marketplace page.

Not only that, Inspect also allows users to track the information of a community. It will present information regarding how many users use the NFT collection as their profile picture. It also shows the top community members, the number of collections, etc.

If you press the “See More” button, you will be redirected to Inspect Apps which shows more details about the community. Users can access important data such as floor price, total volume, and various other metrics.

Inspect’s Feature

In addition to the feature that provides data through X, here are some other features that Inspect offers.

1. Inspect Apps

Inspect Apps is a web-based application that displays information about NFT products and the world. Users can view the ranking of NFT collections, the number of collections, their floor prices, and the community reach of each collection.

With Inspect Apps, users can find out which NFT communities have the strongest social media presence. In addition, it also has a dashboard that displays a list of upcoming Mints.

2. Inspect Groups

Inspect Groups is a platform for knowledge sharing, learning, and socialization among its users. It contains various communities selected and verified by the Inspect team. Users can create their communities or join existing ones.

3. Listing Protocol

Tokens and NFTs can be listed on Inspect via the Listing Protocol. Later, there will be a process of applying for registration along with fees. Once approved, the developers will gain access to various detailed community analytics and maximize exposure to X users.

4. Inspect Pro

In addition to the various free products available on Inspect, there is also a paid product, Inspect Pro. It offers a variety of more profound insights from social analytics on the X platform. There is also an analysis tool to monitor crypto wallets directly from X.

In Inspect Pro, users can get data and information related to portfolios, NFTs, transactions, and Xscore (coming soon). However, Inspect Pro is still in the beta phase.

5. Inspect Transact

Inspect Transact is a new feature developed by Inspect. It offers an on-ramp feature for crypto trading to retail investors. Inspect Transact allows users to gain access to buy and sell crypto or access liquidity without having to leave X.

Inspect Advantages

• 📊 Data sources. Inspect provides various tools that help to collect and analyze crypto and NFT data quickly and accurately. With proper use, Inspect can spot trends, observe market conditions, and find opportunities.
• ⚡ Seamless connectivity. Inspect users no longer need to switch between platforms. Through Inspect, various data and platforms are directly integrated with the user’s X account. Making all processes connected with just one click.
• 💸 Free. Most of Inspect’s features can be used for free. Making Inspect a must-have tool for crypto investors, especially beginners.
• 🌐 Interoperability. Inspect is an insights platform connected to major blockchains such as Ethereum, Solana, Polygon, Avalance, and Ronin. This allows users to get holistic insights from various blockchain ecosystems.

INSP Token as an Investment

INSP is Inspect’s native token. It is used for API fees, advertising, and subscription payments. By staking INSP tokens, users can get discounts, access more data, and be whitelisted for new Inspect products. In addition, by holding INSP tokens, users can also vote on Inspect’s governance.

The INSP has a maximum supply of 1 billion tokens. Thanks to a buyback program and burn mechanism, it is designed to decrease supply over time. As of now, 151.7 million INSP tokens are in circulation, with a market capitalization of US$30 million.

When first launched, the INSP token was US$0.20 and immediately increased to its highest level of US$0.32. After that, the INSP token price slowly dropped and is now at US$ 0.19.

If you look at its token allocation, the token heavily favors investors and its core team. This could dissuade retail investors from investing as selling pressure arises from investors. If not matched by strong demand, this could lead to a drop in INSP’s token price.

Based on the vesting schedule above, one of the most critical periods for INSP tokens is February 2024. During this period, 30 million INSP tokens will be unlocked. Investors’ INSP token holdings will be unlocked linearly every day until August 2026.

As a protocol that focuses on providing data and insights, Inspect’s strong competitors are Arkham (ARKM) and Alpha Scan (ASCN). While INSP focuses on giving data through social media, Arkham presents data through its website. In terms of data, Arkham also focuses on transactions on a blockchain and the user behavior behind it.

As for AlphaScan, it is a trading platform using decentralized bots based on on-chain data and sentiment on social media. The data obtained will be converted into signals. The signals can be used to set automated trading strategies.

Conclusion

Inspect is a Layer 2 SocialFi protocol that enables integration between social media and the crypto world through the X platform (Twitter). It offers real-time analysis of crypto and NFT data. Inspect is accessible through a Chrome extension. Once connected with X, it will provide information, including asset prices, market data, and related news.

Inspect also has features such as Inspect Apps, Groups, Listing Protocol, and the paid Inspect Pro. As a SocialFi, its advantages include rich data sources, easy integration, and interoperability. The INSP token is used for transaction payments and governance.

How to Buy INSP Token on Pintu

After knowing what Inspect is, you can start investing in INSP by buying it on Pintu app. Here is how to buy crypto on Pintu application:

1. Create a Pintu account and follow the process of verifying your identity to start trading.
2. On the homepage, click the deposit button and top up the Pintu balance using your preferred payment method.
3. Go to the market page and look for INSP.
4. Click buy and fill in the amount you want.
5. Now you have INSP!

In addition to INSP, you can safely and conveniently purchase a wide range of cryptocurrencies such as BTC, ETH, SOL, and others safely and easily on Pintu. Pintu diligently evaluates all its crypto assets, highlighting the significance of being cautious.

Pintu is also compatible with popular wallets such as Metamask to facilitate your transactions. Download Pintu app on Play Store and App Store! Your security is guaranteed because Pintu is regulated and supervised by Bappebti and Kominfo.

Aside from buying and trading crypto assets, you can expand your knowledge about cryptocurrencies through various Pintu Academy articles. Updated weekly, all Pintu Academy articles are made for knowledge and educational purposes, not as financial advice

References

• Inspectxyz, Introducing Inspect Crypto, Twitter, accessed on 28 December 2023.
• Inspect, Inspect: 2023 Recap and Upcoming INSP Launch, Medium, accessed on 28 December 2023.
• AlphaScan, Introducing $ASCN: Empowering AlphaScan for Decentralized Analytics and Automated Trading, Medium, accessed on 29 December 2023.
• Sankrit K, What Is Arkham Intelligence and How to Use It? Coin Gecko, accessed on 29 December 2023.