NFT Rarity is Easy to Manage with These Great Investment Tools - Next NFT Drop
Next NFT Drop
NFT Rarity is Easy to Manage with These Great Investment Tools

NFT Rarity is Easy to Manage with These Great Investment Tools

James Hill
May 18, 2022

NFT (non-fungible token) space is experiencing exponential growth, drawing many people’s interest in the market. 

Rarity is an essential aspect of making money in any collectible market. You need to track the trending NFTs if you want to turn a profit. Snipping NFTs involves buying NFTs from sellers who price their assets below their value due to unawareness of their rarity. Fortunately, you can use rarity tools to help you identify the next best NFT out there. 

What is NFT rarity?

NFT rarity defines how rare and valuable an NFT is. Collectors highly prize truly rare NFTs, making them more expensive. Additionally, every NFT owner or buyer would want to know whether the NFT they own or the one they want to buy is rare. NFT rarity is the reason NFTs differ in value in the market. Highly rare NFTs will sell for millions of dollars while others sell for a few dollars. 

NFT rarity calculator

The rarity and value of NFTs differ even when having a thousand of them in a collection. Therefore, the demand rises with the decrease in supply, driving the NFT prices up. However, supply value is just one of the factors contributing to NFT rarity. 

Various methods exist for calculating NFT rarity. To begin with, you can use trait rarity ranking, which involves comparing NFTs by simply contrasting the rarest trait of each NFT. This method only considers the rarest trait of each NFT. Another method for calculating NFT rarity is average trait rarity, which averages the rarity of traits existing on the NFT. For example, if an NFT has three traits, one with 40% rarity and another with 20% rarity, the average trait rarity would be (40+20)/2 = 30%. The third method is a statistical rarity, which calculates the overall rarity of an NFT by multiplying all its trait rarities together. For example, if we consider an NFT with two traits at 20% and 40%, the statistical rarity for this NFT would be (20% * 40%) = 8%. Using different methods may result in different rankings.

Rarity Tools for NFT rarity Check

Even though these formulas are straightforward, there is no point in doing the math yourself to estimate the rarity of all the NFTs you are interested in. Instead, you can use NFT rarity ranking tools to conduct an NFT rarity check for your desired NFTs. 

1. Rarity.tools

Rarity.tools is the most popular website for NFT rarity check. The platform ranks NFTs by their rarity trait in real-time. Additionally, the tool allows you to filter your search with average price, owner count, total sales volume, and top collections.

To view the collection’s rarity, click all collection on the taskbar and type the name of the collection you want to check. Each NFT will appear with details as well as its rarity score. The higher the score, the higher the rarity.

2. HowRare

HowRare is a popular NFT rarity tool for checking the rarity of NFTs on the Solana blockchain. The platform list over 600 collections on a different basis, such as the floor price and the number of items and holders. Similar to rarity.tools, the website allows you to find out the rarity of NFT. A search reveals the rarity rank, rarity score, and attribute details. 

3. Rarity Sniper 

This website features over 1400 NFT collections across Ethereum, Solana, and other blockchains. The platform boasts an extremely attractive and intuitive interface that allows users to see the rarity rank, score, and traits. The tool also has over 400,000-strong discord channels that enable users to find the rarity of NFTs as well. You can use the following bot command under rarity-check: !rarity [collection] id/rank [id] to check the rarity of an item. For example, if you are dealing with Bored Ape #9606, the command should look like this: !rarity boredape id 9606 

4. Traitsnipper

Traitsnipper is a detailed website that analyses the rarity of NFT projects faster and provides the user with relevant information. The website provides details such as Rarity Score, Rarity Rank, OpenSea Price, and OpenSea’s highest offer of an NFT. The tool offers a free and paid version, which provides benefits such as real-time notifications of new listings and their score. 

5. OpenSea Rankings

Opensea is the largest and most popular NFT marketplace. Despite facilitating NFT sales, the platform also calculates NFT ranking based on volume, floor price, and other statistics. You can easily identify the trending collections using the platform. It covers NFTs on the Ethereum, Klaytn, and Polygon blockchains. OpenSea also contains upcoming projects. 

Other NFT rarity tools include NFT Nerds Rarity, DappRadar, Icy.tools, Rarity Sniffer, and NFT bank.  

Wrap up

The rarity of NFT remains a significant factor when deciding which NFT to buy. Generally, the highest rarity means the highest price NFT, as it attracts high demand. You can use NFT rarity checkers to understand the collection. 

FAQs

What is NFT Rarity?

NFT rarity is the measure of how an NFT is unique. The rarer an NFT, the high value it attracts, meaning collectors consider rarity when looking for an NFT to buy. 

Can I exchange an NFT with another?

NO. NFTs are unique, indivisible, and cannot be exchanged. Therefore, the value of these digital tokens differs even if there are thousands of them in a single collection.

What is the NFT rarity calculation method? 

The popular NFT rarity calculation methods are Trait NFT Rarity Ranking, Average Trait Rarity, and Statistical Rarity. 

What are NFT rarity tools? 

These platforms calculate and rank the rarity of NFTs automatically. The leading NFT rarity tools include rarity.tools, HowRare, Rarity Sniper, Traitsnipper, and OpenSea Ranking. 

U.S. President Joe Biden includes cryptocurrency to his newly signed executive order

U.S. President Joe Biden includes cryptocurrency to his newly signed executive order

James HillNov 03, 2022

Based on the fact sheet, 16% of Americans have invested, traded, and used cryptocurrencies. Hence U.S. President Joe Biden called out and said to investigate the said digital currently.  In...

TOP THREE REASONS WHY NFTs ARE VIABLE LONG TERM ASSETS

TOP THREE REASONS WHY NFTs ARE VIABLE LONG TERM ASSETS

James HillMay 18, 2022

[kc_row use_container=”yes” force=”no” column_align=”middle” video_mute=”no” _id=”325270″][kc_column width=”12/12″ video_mute=”no” _id=”284390″][kc_column_text] Introduction Non-fungible Tokens (NFTs) represent ownership of an object. Money is an example of a fungible asset where units can be...

Celebrities and NFTs: What’s all the hype about?

Celebrities and NFTs: What’s all the hype about?

Sarah MorganMay 18, 2022

More celebrities are joining the NFT world, making the topic of celebrities and NFTs an important one to explore. The main factor is drawing celebrities into NFTs in the quest...