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Top Nft Rarity Tools To Rank Your Nfts: I just heard a story about someone making $200,000 in 48 hours by putting sought-after Nfts. What kind of Nfts can convert such sales easily within a short period of time?
There you go with your answer, Sought-after Nfts!
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What makes an nft sought after? An nfts become sought after when it is rare. The rarity of an nft automatically hikes the price of such Nft. This gives the Nft its value and worth in that, you can not easily find it. It is not a cheap buy or get.
In today’s post, we will be exploring Nft Rarity and the top and best Nft rarity tools you can use to rank your nfts with.
Table Of Contents
What is Nft Rarity
What Makes An Nft Rare
Does Rarity Matter In An Nft?
How To Determine Nft Rarity
How To Calculate Nft Rarity
Top Nft Rarity Tools
Conclusion
What is Nft Rarity
Nft rarity is the determination of the rareness and value of an Nft. The rarity of an Nft gives it its value and worth. Collectors and buyers of nft attach great value to rare nfts.
When an Nft becomes rare, there is an automatic increase in its price because it cannot easily be obtained. This consequently makes people look out for Nfts with rarity.
They are very eager to know whether the Nfts they have purchased or the one they are willing to purchase Is rare.
What Makes An Nft Rare
Rarity as we already know gives an Nft its value. It is very crucial to the determination of the worth to be accorded to a particular Nft. Here are a number of reasons and factors that makes an Nft rare
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Low Supply
This is an economic principle and law. It is a simple economics that when the supply for any commodity or good is low, prices of that commodity automatically become high.
This is as a result of the limited supply which is not equilibrium to the demand for the product. The same principle and law applies to nfts.
When an Nft is limited in supply and there are only a few nfts with some special traits that are not easy to come by, such an Nft has every tendency of becoming rare.
In a bid to limit the supply of Nfts and increase rarity, issuers use tools like Nifty, Rare Bits and OpenSea rarity tools to track Nfts and the number of Nfts produced so far.
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Utility
Talk of Utility, talk of the benefits and access that comes with holding or owning an Nft. NFTs that comes with high utility stand a greater chance to rank higher in rarity
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Demand
The demand for any commodity automatically makes the commodity rare. So when the demand for a particular trait of an nft becomes so hot and very much sought after in demand, this makes the Nft rare.
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History and trait
The historical background associated with an nft and traits or unique characteristics of an nft makes it rare.
You might want to ask, does rarity matter in nft?
Does Rarity Matter In An Nft?
My answer to that is; Yes! Com’on, nobody wants to buy an nft that wouldn’t sell or whose value is as good as worthless!
People buy nfts for the benefits they derive from it and the Utility that comes alongside it.
Now imagine that you own an Nft that no other person has or owns! That is a hot cake. Can you just imagine how much people will be willing to pay to get it?
It’s more like a kind of Monopoly in the NFT market, where you are the only seller of a particular commodity or token. Since it isn’t sold elsewhere or the supply of such a token is very low.
Just like the economic law of supply; when supply is low, price becomes high; this very law applies to Non fungible tokens as well.
As a result of this, people are looking for means to determine Nft rarity
How To Determine Nft Rarity
If you are zealous on making the most out of the Nft space, rarity is something you should consider intently. Rarity should be something you shouldn’t joke with.
Your ability to determine an Nft with rarity enables you to rank your nfts. To know how much value and worth is attached to it. Because your money is tied to it.
How much you will make or lose is tied to how valuable your Nft collectible is. The risk of buying an Nft without knowing its true value is that you might end up buying an Nft for a price higher than its true value and you might never be able to exchange it for that price or worse still, you might not be able to find buyers for your token.
This is why it is very important to know how to determine your nfts rarity and ranking.
How To Calculate Nft Rarity
Your ability to calculate the value of an Nft gives you an edge and reduces the risk involved in buying an Nft that nobody is willing to buy.
It is very possible to calculate Nft rarity. There are different methods one could use to calculate Nft rarity. As we all know, nfts are unique in their making. They are irreplaceable. Can not be interchanged for another; that is why the value attached to them is high and becomes higher when some characteristics and traits in a particular Nft token becomes very rare.
Nft rarity can be calculated in different and diverse ways and methods; it could based on traits and statistics
Methods of Calculating Nft Rarity
The different ways one can be able to calculate Nft rarity of Nfts are;
Trait Nft Rarity Ranking Method
Average Trait Rarity Method
Statistical Rarity Method
Rarity Score Method
Trait Nft Rarity Ranking Method
This method focuses on the rarest characteristics of an nft over each other. This is more like a Singleton rarity base method. It focuses more on the rarest one forsaking the overall rarity or rareness of a non fungible token.
Average Trait Rarity Method
Just like the name implies, it is the average check of the rarest trait present in an Nft. It overlooks the single trait rarity of an nft and focuses more on the average level. There is not much recognition or validation given to any single and highly unique trait in an nft but the summary of all the traits visible in an Nft is valued.
Take for instance an Nft has a single trait of 40% and another single trait of 20% rarity. The average rarity for these two traits would be (30+20)/2 = 25%.
This method uses the average calculation scale to determine the rarity of an nft.
Statistical Rarity Method
In this method, if a single trait in an Nft is 30% and another is 20%. To determine the overall rarity, you will have to multiply the traits in the nfts. That is (30%×20%) = 6%.
The statistical rarity method simply uses the multiplication of its characteristic trait to determine the overall rarity of an Nft.
The different approach and method give us a different result all together. The Trait Nft Rarity Ranking Method helps to expose the extraordinarily unique and special trait in an Nft
However, it is incomplete as it narrows these rarity to just one particular trait. Whereas, the Statistical and average Rarity Methods overlooks the Singleton rarity and characteristics.
To solve these problems and incompleteness and precision of nft rarity calculation, the rarity score evolved.
What Is Rarity Score
This method uses the summation method. It is the sum total of all the traits Nft rarity ranking; that is the Singleton rarity trait in an Nft to get the overall score.
This is done by allocating to each trait a score according to its uniqueness and rareness. This is called the Trait Rarity Score. Which is later summed up to get the total and overall score.
The Rarity Score helps to solve the inadequacies and problems of the first three methods of Calculating Nft rarity and ranking.
In a bid to identify nfts with good selling potential, rarity is a very important topic to consider. It is very important that you track nfts that are trending. Trending nfts with good rarity score.
Which Nft Rarity Score Is Best
When it comes to rarity score detection for the best Nft with high profit potential; nfts with high score are the best. Since there are being scored to help with the calculations, some nft trait have low score while others have high scores
The higher the rarity score of an Nft, the greater the ranking. Take for instance, CryptoPunk has 50 rarity score, Luckyblock has 30 and the rest falls below 30; it’s obvious that CryptoPunk is the rarest since it has the highest rarity score and is ranked first on rarity, as such it becomes the most sought after and same way the price will become very high.
There are some tools that have been built and developed to help calculate Nft Rarity. Rarity in nfts is not easy to calculate as we already know, this is why some tools were developed to help with the calculation of Nft Rarity and to help Nft owners or Nft flippers or snippers to determine nfts with high ranking.
That brings us to the question; “What tools are best for nft rarity to rank your Nft with?” There are a lot of tools out there to help you rank and determine the rarity of your Nft, let’s take a look at the Best Nft Rarity Tools
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Top Nft Rarity Tools
There is nothing as cool as having a reliable Nft rarity tool to help you do the calculations and math involved in Nft rarity determination and ranking. Below are some of the Best Nft Rarity Ranking Tools you can consider using for your Nfts
The first on my list is
Rarity.tools
This tool is best known for its analysis and ranking of Nfts in real-time. Rarity.com is a very popular Nft tool used for analysis.
Rarity.tools does a good job in the allocation and assignment of trait rarity score. Afterwards, all the traits rarity score is summed up to get the overall or total score
In Spite of being the best and most popular Nft rarity tool, Rarity.tools has its disadvantages and advantages.
To start with the latter, analysis and rarity check by users is free. Users do not need to pay a dime to use this tool. Users can navigate and quickly confirm the rarity score for any particular Nft listed on the site.
However, the cons of this tool, Rarity.tools is that, creators of Nfts, who want to get their nfts listed on their platform will have to pay 2 ETH flat rate fee. Not just that, another disadvantage is that it lacks navigation tabs.
The site, however, has a simple site layout, but with the problem of navigation tabs, new users find it difficult to easily conduct a search for the most recent and high ranking nfts.
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Opensea Nft Rarity Tool
OpenSea, like we all know, is the largest Nft marketplace. The OpenSea Nft Rarity Ranking tool uses the statistical floor price considerations and volume ranking.
The disadvantage with OpenSea rarity is that, rarity scores are not shown. Although, the OpenSea Nft rarity platform enables you to view the traits of Nfts. It shows the Nft traits rarity but unable to show its rarity score or total rarity rank.
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Rarity Snipper
Rarity snipper seem to be the best Nft rarity tool that is used by Nft owners and holders. It has an Nft collection of over 870.
Collections from major Ethereum and Blockchain nfts like Solana. The Rarity Snipper has a very good and friendly user interface which enables the display of all the tokens listed on its traits, the rarity score and rankings.
It doesn’t just end there, the rarity Snipper has its discord channel that you could use to discover and determine the rarity of an Nft. It is the simplest way to calculate and determine Nft Rarity.
However, only the collections listed on rarity Snipper are allowed for rarity calculation and determination.
Traitsniper
Traitsniper is also another wonderful rarity tool you could use to determine the rarity of your Nfts. It offers the most recent information when it comes to upcoming Nft projects.
The moment a new nft project drops, Traitsniper computes the rarity of the Nft involved. The Traitsniper has a free version which is very congested and very difficult to navigate especially for first time users.
Traitsniper also has the paid version which gives users the access to real time updates and Information for different nft projects the moment they hit the market.
The Traitsniper gives you access to the rarity rank of an nft, the rarity score, the price and highest bid an Nft has received on the OpenSea marketplace.
Cryptoslam
Cryptoslam is a great tool for rarity calculation with a beginner friendly interface. It is easy for beginners to run their calculation and analysis with this tool.
This is so because it displays the best volume of sales of nft collectibles, Blockchain sales, Nft all-time project ranking, fan tokens and also worldwide index.
Cryptoslam is more of an nft data aggregator. One can easily trace the wallets, names and videos of Nft holders for purchase of need be.
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It is a very simple and easy Nft tool that is compatible for beginners.
Conclusion
When it comes to getting the most out of your investment in NFTs, especially the profit involved, rarity is a very important aspect that cannot be overlooked.
These rarity tools help you detect nfts with high Rarity score and ranking to invest in. They will serve as a guide to help you make the most out of your investment in NFTs.
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