A lot of investors have joined the crypto market during the past few years. The new investors made room for new people to adopt crypto and non-fungible tokens. This article will discuss the rarity tools and how to use and buy NFTs using them.
You can also read: What is CNFT?
What does rarity of NFT mean?
In simple words, NFT rarity shows how rare and valuable an NFT is. The rarer an NFT is, the more expensive it will be. NFT’s rarity depends on many features including physical features like design, color, etc., or even other influences such as the artist who created it.
Collectors that are looking to invest in a project will research the NFT and will mainly focus on the rarity of the piece and how much it is worth. Before the launch of rarity tools in 2021, collectors had to spend so much time researching the mentioned topics but now these have made this job a lot easier.
How do you identify rarity tools?
To identify the rarity of your NFT, you should use your rarity tools such as raritysniffer and trait sniper. Rarity tools such as raritysniffer and trait sniper will focus on the traits that make your NFT rare or common. The rarity of your NFT directly affects your NFT value.
Rarity Sniffer and other rarity tools such as trait sniper help NFT owners to figure out whether or not their non-fungible tokens are rare.
What is RaritySniffer?
Raritysniffer is a rarity tool that enables users to identify the rarity traits in their NFTs. The rarity traits are crucial to the NFT’s price. Using Rarity Sniffer, users can check out their own NFTs rarity. You can also surf around in the RaritySniffer NFT collection.
In this picture you can see the Rarity Sniffer NFT collection. In this main page you will see some of the rarest NFTs that exist. There is usually an extremely high demand for these NFTs, because they have very rare traits. Therefore, making them extremely rare NFTs.
RaritySniffer is one of the best rarity tools which users can find really handy. If you click on an NFT, that NFT’s page will open up.
By clicking on the NFT, raritysniffer offers you a lot of information.
For example, you can see the NFT’s value and it’s rarity rank between its collection. You can also scroll down to view the other existing NFTs in that collection.
What is Hypebeast NFT?
Hypebeast NFT collection is probably the most unique amongst all of the other ones. If you merge fashion with NFT, you will probably receive the Hypebeast NFT collection.
Let’s take a look at some of their NFTs and you will find out what I mean, from unique!
NFTs on the Hyperbeast are 8k! Aside from their uniqueness and with a sense of fashion style, the Hypebeast NFTs really have a high quality.
To me, Hypebeast NFT collection is where fashion and NFTs meet. That can be a turning point for the crypto industry. This is because the HypeBeast NFT collection can turn heads towards NFTs.
In the next section we will take a look at how the rarity score works. By knowing how the rarity score is calculated you can have an insight to the NFTs value. Therefore, you can become better at understanding what is a rare and valuable NFT.
What is rarity score on rarity tools?
A rarity score is given to each trait of an NFT based on how many NFTs have that trait. The total rarity score for the NFT is the sum of all the NFT’s trait scores.
Rarity Score for a Trait Value = 1 / ([Number of Items with that Trait Value] / [Total Number of Items in Collection])
Another method that is sometimes used is averaging the rarity of traits on the NFT. The issue with this method is that it really highlights the total rarity of every trait. In this case if an NFT has a very unique and rare trait, it will not be valued enough because its rarity value gets reduced by other traits.
Another method that has become popular is Statistical Rarity. In this method how you calculate the overall rarity of an NFT is by multiplying all of its trait rarities together.
How do you buy rarity tools?
You can buy NFTs from rarity tools collections. Rarity tools like rarity sniffer, rarity.tools and trait sniper have NFT collections. Therefore, users can visit the collections and pick to purchase the NFTs they like.
Or just to surf around the collections to see different types of NFTs, each with different rarity traits.
What are Rarity tools good for?
Rarity tools such as trait sniper and rarity sniffer, are tools that users use to define the rarity of their NFTs. Non-fungible tokens or NFTs have various rarity traits that will affect that NFT’s price point.
How do you tell rarity of rarity tools?
To look up the rarity of your NFT, you should visit a rarity tools platform. Pick a rarity tool that is introduced in this article. Copy your NFT’s ID and paste it in the rarity tools search bar. Then, you will see different properties and traits about your NFTs.