A New Kind of Rarity
When an NFT project gets launched, people often ask about rarity in the set. What is meant by “rarity” tends to be quantitative (e.g. there are only 378 CryptoPunks with Small Shades), and ratings sites aggregate blockchain data to offer potential buyers these sorts of details. This quantitative approach misses something crucial however: a lot of what is seen as rare in networked collections of art like PFP sets comes down to subjective or cultural value.
Think about it. Every collection has its examples of people creating sub-communities around a particular trait (e.g. Hoodie CryptoPunks or Frog Hat Cool Cats). Raw scarcity numbers matter to an extent, but a lot of NFT value capture comes from context that isn’t able to be ascertained by quantitative metrics alone.
As such, we’re excited to experiment with something different to categorize rarity in Good Minds. Yes, we have a basic stratification of scarcity across character types: breads (most common), vases (uncommon), TVs (rare), Kettlebells (ultra rare), and finally 1/1s. But inside each subcategory there are specific faces, companions, traits, etc. that are more or less sought after, and to capture that subjective side of rarity we’re excited to share we’ll be working with Poprank.
PopRank’s unique feature is its aesthetic ranking game, which will allow our community to work together to crowdsource aesthetic rankings of the Good Minds collection. The value of using a rankings platform like this is it helps canonize rarity in a way that balances scarcity (set by the team) and aesthetic preference (set by the community). We think this combination is the most compelling way to find rarity in NFT collections, and it’s actually how Genie (the marketplace aggregator) sources its rarity as well.
How does it work? First off, we have the entire Good Minds collection loaded up and ready to be voted on here. Everyone is invited to contribute to our aesthetic rankings by voting on different images as they come up. This data then gets collected over time and displayed here for anyone to access.
As a way to kick off this partnership between Good Minds and Poprank, and to start building up the rankings data for our set, we’ve decided to run a giveaway. We’ll be giving away 3 Good Minds NFTs one week from today (July 15th), and in order to be eligible, all you need to do is connect your wallet to the site and play more than 200 rounds of the ranking game. This sounds like a lot, but it goes pretty quickly.
Good luck! We’re incredibly excited to see the end result, even though we all know the #1 slot is going to be that easter egg 1/1 photo we have of a piece of bread.
