RARITY IN NFTS BY NFT CRITICS
Rarity in NFTs
What is Rarity?
Thousands of NFT tokens are available in the marketplace, and new tokens keep adding each day. Each collection of NFTs consists of a few hundred to thousands of them with similar traits/properties. Every such individual NFT of the pool results from the permutation and combination of predefined properties. Thus, if a trait(s) of the NFT is less, it holds a more incredible value due to its Rarity.
For example, a collection might contain 2222 NFTs of characters that hold the following traits: Eyes, Head, Body, Mouth, Clothes and Accessories. Each attribute has specific values.
The clothes might have a T-Shirt, Bomber, Turtle Neck, etc.
The availability of each value of a trait is inversely proportional to the Rarity. In simple terms, the lesser the availability of the token, the higher the Rarity.
Now, why is a rarity so important?
In the world of NFTs, certain factors are used to determine the quality and value of an asset. Rarity is one such factor! Just like the physical assets, an NFT with rare and unique properties is believed to hold a more excellent value.
Though Rarity should not be the only factor in assessing the value of an asset, the concept of Rarity has become predominant, and eventually, it has become a crucial parameter.
How could it be calculated?
The platforms/marketplaces have a feature that shows traits of a token. You can use filters to search for the repetition of the tokens and calculate the Rarity using the formula:
The percentage rarity of an individual trait = (Total number of tokens that has the same value / Total number of assets)*100
Also, there are other online tools like Rarity tools to understand the NFTs’ Rarity instantly.
