CryptoBlog n.757
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.
CryptoBlog n.755
Proof of Merge is a fully on-chain, non-transferable, and dynamic NFT that will change throughout The Merge. A16z engineering partner Michael Blau and crypto investments partner Mason Hall engineered the black-and-white “Proof of Merge” Ethereum NFT, which goes through three phases triggered automatically by its smart contract. The first phase of each Proof of Merge NFT displays before the merge and shows two separate circles. The second phase of the NFT, which occurred early Wednesday, shows two half-merged circles. The third phase will show the circles fully merged, forming a yin-and-yang symbol to indicate that the Ethereum merge is complete.
CryptoBlog n.754
1INCH Flips Tether and Shiba Inu Top Ethereum Wallet Holdings 1INCH has surpassed Tether’s USDT and Shiba Inu (SHIB) in the ranks of the cryptocurrencies being held by the top 100 Ethereum wallets due to increased demand by whales. 1INCH holders received positive news on Sept. 6 when the 1inch Network announced that a total of 300,000 Optimism (OP) tokens would be distributed among its users in a move to incentive their activity on the Optimism Network. This week the token flipped USDT, the largest stablecoin by market capitalization, and SHIB, the second-largest meme-inspired digital asset in terms of top-10 Ethereum wallet holdings on Sept. 11.