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CryptoBlog n.756


When it comes to collecting NFTs, one of the largest driving factors of their price is their rarity. In the case of most collections (especially avatars/PFPs) some NFTs are rarer than others, and some come to be valued much higher than others in the same collection. However, there are some problems that arise when trying to rank NFTs according to these rarities. For starters, generative NFTs contain a mix of traits, all at varying rarities. It’s hard to come up with an honest and fair scale to mathematically weigh the “rarity” of each trait in comparison to others, especially when the traits appear the same amount of times in the collection. Leading NFT marketplace OpenSea has teamed up with Curio, IcyTools and PROOF to create a program that looks to be the go-to rarity ranking tool for the NFT space. Titled “OpenRarity”, the tool takes a verifiable, consistent and mathematically-grounded approach to calculating rarities.