How to Use Rarity.Tools to Find the Rarest NFTs
Non-fungible tokens (NFTs) are extremely valuable; however, it can be difficult to determine the ones with the most potential. Rarity.tools is one of the best NFT rarity-discovering tools, arguably the most popular one that’s also free to use. It features an easy-to-understand user interface and has all the data you need to make smart decisions regarding your NFT assets.
With that in mind, here’s everything you need to know about NFT rarity and how to use Rarity.tools to find the rarity of an NFT and set up alerts for the rarest NFTs.
What Is NFT Rarity?
NFT rarity measures the number of rare and unique NFTs in a particular collection, their supply, and their demand at any given time. The rarest NFTs are those that are scarce and highly demanded at the same time. In most cases, these rare NFTs will increase in value as more people want them.
This is why knowing how rare an NFT is essential before selling orinvesting in an NFT.
What Is Rarity.tools and How Does It Work?
Rarity.toolsis one of the most popular tools that rank generative art and collectible NFTs based on rarity. It offers a clear and logical rating of the rarity of specific collectible NFTs and can be used to determine how uncommon NFTs are. With this information, NFT collectors can value and compare the relative worth of individual NFTs.
you may filter NFTs on Rarity.tools based on top collections, total sales volume, average price, and owner count. Furthermore, you can use it to learn about top collections, like Flyfish Club and Bored Ape Yacht Club, and upcoming projects. Rarity.tools features a clear and appealing interface that makes determining NFT rarity a breeze.
How Is NFT Rarity Calculated With Rarity.tools?
There are several methods for calculating an NFT’s rarity, and each one gives a different score.
Some methods use the average rarity of each trait expressed by an NFT to calculate overall rarity. Other methods ignore the rarity of all other traits and consider the rarest trait. Some people multiply all the rarity values of the traits listed in an NFT combined.
In the end, different methods produce different results and incomplete assessments. For example, some methods overestimate the rarity of every feature in the collection while neglecting the extraordinary rarity of some outlier traits. Others give an inaccurate impression by concentrating on an NFT’s rarest trait and downplaying the significance of other rare traits.
Rarity.tools Rarity Score of a Trait Value
This calculation is arrived at using this formula:
The best NFT marketplacesuse this basic equation as the gold standard since it consistently delivers the same results.
Trait Rarity Ranking
This method does not compare the overall rarity of the item but the rarest trait of each NFT to the entire collection. NFT traits are features or characteristics that make the NFT unique, like accessories, backgrounds, properties, and so on.
Average Trait Rarity
This method considers the overall rarity of the NFT’s traits but does not consider any rare traits of the NFT. Because of this, one unique trait of the NFT could be diminished by other traits.
For instance, consider an NFT with three traits with probabilities of 5%, 15%, and 25%. This NFT will have an average trait rarity of (5+15+25)/3=15%.
This example demonstrates how the relative prevalence of the other two traits overshadows the first trait, which has a rarity of 5%.
Statistical Rarity
It determines the overall rarity by multiplying all trait rarities together. Therefore, based on the earlier example, the overall NFT rarity would be (5%×15%×25%)=18.75%.
How to Find the Rarity of an NFT on Rarity.tools
You might have received an NFT mint in a generative collectibles drop and are curious to see how rare it is.
Let’s say you minted a Chimpers #2565 collectible and would like to see how rare it is. Here’s how you can check:
4 Other Tools to Determine NFTs Rarity
There are other tools apart from Rarity.tools that you can use to calculate NFT rarity. These rarity tools each have their method for calculating an NFT’s rarity score.
1. OpenSea
OpenSeais a great tool for determining the rarity of your NFTs based on the number of copies in circulation. It’s easy to use, too; type in the name or ID of an NFT, and it will return how many copies are in existence, how much they’re being sold for, what percentage of all transactions they represent, and so on.
All of this information helps you better understand whether you should be buying a certain item at its current price, if you should wait until after it spikes, or if it would be better to sell off some items before they go down in value.
2. Trait Sniper
With features like mass bidding, advanced auto sniping, and instantaneous rankings,Trait Sniperis openly targeted at “expert traders.” NFT flippers rush to get the best deals, which they immediately re-list at a higher price in the hopes of making a quick profit after Trait Sniper has scanned a collection and displayed the pieces in ranked order.
The free and premium versions of Trait Sniper offer varying levels of monitoring access. For instance, buying an Alpha Sniper pass gives you access to instant notice of freshly unveiled NFT collections and their rarity scores, compared to an hour’s wait for free users. It’s only worthwhile using Trait Sniper if you’re willing to pay, among other reasons.
3. Icy.tools
Icy.toolsis a service with several great analytics tools launched amid the NFT industry boom. you may easily find hot projects on the platform and keep tabs on floor prices, volume, and other information.
On the Icy.tools platform, many of the tools are free, and you’re able to unlock premium features for a somewhat low monthly fee. NFT maximalists prefer the company because it has a voice that aligns highly with the NFT community’s values.
4. RaritySniffer
Similar to Traitsniper,RaritySnifferoffers the most recent rankings of new NFT projects based on their rarity. In addition, the platform only displays sniffed projects for free users and provides information on the most recent NFT collections.
Users must subscribe to the Discord channel to get more analysis on potentially rare NFTs. This provides unique access to the rarity status of freshly minted NFTs that have been scented before being made available to the general public.
Why Rarity Matters for NFTs
Rarity is an important factor when determining the value of any NFT. NFT rarity tools help ensure that you get the most accurate estimate of rarity possible. Furthermore, they make it easier to get the best price on any given NFT if it turns out that it has a lower rarity than you originally believed.
So if you like collecting rare items or want to make sure your NFTs have the best value before listing them for sale, using one of these tools is something you should consider doing. They will take the guesswork out of finding out how rare NFTs are so that you can confidently buy or sell digital assets.
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