Koda Rarity — Ranking the newest creatures in the Yuga Lab ecosystem
Analysis and rankings of Kodas, Yuga Lab’s new metaverse creatures.
Introduction
Two headlines emerged out of the Yuga Labs metaverse launch. The first, the absolutely disastrous mint process and unoptimized contract. The second: Kodas.
I’ll let all the contract optimizing super geniuses take the first topic. On Kodas, let’s dig-in.
Kodas are the mysterious, adorable, sometimes armed creatures inhabiting the Otherside land. Otherside consists of 100,000 plots of land, of which 10% are populated with Kodas. Reading from Otherside’s official website:
Meet the Kodas, the primal beings that have ushered us into the Otherside. We don’t know why they’ve brought us here, or what their affinity to this land is. If you are lucky enough to meet a Koda, tread cautiously.
So what do we know? Not much. Right now, we don’t know what Kodas do or how they fit into the game. We don’t know the difference between a Purple Disco monster body or a Sword of the Horde weapon — but just as lands aren’t born equal, neither, it turns out, are Kodas.
Just like any NFT generative collection, Kodas have attributes, which scale from common to rare. Unlike most NFTs, Opensea and the other marketplaces don’t make available the information about the rarity of Koda attributes, probably because they are an NFT within an NFT.
But as we all now contemplate: do we buy, sell, how much, when? Let’s get informed. How rare is each Koda?
To help everyone out, I’ve been playing around with Otherside API and managed to extract Kodas metadata. With this, I created a rarity score, and published the scores to make them easily accessible. Is this rocket science? Not really. But I hope at least some people find this interesting.
Koda rarity rankings
I was taught to not bury the punchline in an analysis. So here — I’ll start off with the important links and then get into the details:
- Public spreadsheet of rarity scores: https://docs.google.com/spreadsheets/d/1FFRXkwPvVhTNgbWwigEX4R8aOaH2M578KUCKxP5ryZc/edit?usp=sharing
- Code I used for the calculation: https://github.com/seidmutant/koda-attributes
Calculating rarity
In order to calculate rarity, we first needed to get Koda metadata. And bless their souls, Yuga Labs published an API with metadata for both land and Kodas.
So to start, we iterate through the possible token ids 0–9999 to collect trait data.
Next, the rarity score.
There are a few different ways to combine trait rarity to return a single score representing each NFT. I went with the calculation presented in Adam Chekroud’s article All uniqueness is not equal — in which you calculate the rarity of each individual trait, and then multiply all the scores together.
Let’s walk through an example for Koda #5803. First, for each feature, we collect the number of Kodas that have that attribute and divide that number by the total.
- Head: Aqua Elf (86 / 9632) = 0.89%
- Eyes: Pink Staredown (34 / 9632) = 0.35%
- Core: Tranquil Water (104 / 9632) = 1.08%
- Clothing: Grimace Armor (33 / 9632) = 0.34%
- Weapon: Bramble Thumper (19 / 9632) = 0.20%
Second, calculate rarity by combining the scores.
Rarity = 0.0089 * 0.0035 * 0.0108 * 0.0034 * 0.0020
And lastly, we collect the number of Kodas that have rarity less than the rarity score for a final ranking. In this case, the Koda below is the 193th rarest.
Mega Kodas
When sorting the rarity score, the first thing we encounter are the Mega Kodas. I’m not exactly sure where the “Mega” came from; but this is the moniker the Twitter people have given them.
The Mega Kodas are the rarest Kodas. With token IDs ranging from 9901 to 9999, they are armed for battle, fully clothed, and are out here looking like queens and kings. I mean, check out those outfits below, those aren’t just any normal kits.
As mentioned above, it’s yet to be revealed how rarity plays into the game. But what we do know is that market is reacting to these Megas — and we’re not seeing any priced at floor on OpenSea.
Clothes and weapons
We find all Kodas have eyes, a head, and a core. However, not all Kodas have weapons and clothes: only 30% of Kodas have clothes and 31% have weapons.
Listing some features:
- Rarest clothes — Chaos Avenger (1), Chaos Soldier (1), Chaos Gunner (1), Bubble Cap (16), Eternal Drain Armor (17)
- Most common clothes — Grassland Armor (99), Wanderer Cape (95), Wasterider Pauldrons (95), Classic Mail Armor (95)
- Rarest weapons — Coils of Vengeance (1), Cosmic Hammer (1), Truestrike (1), Sulfur Striker (3), Blasphemy (4), Ravens Bite (4), Jaws of Evercrushing (5), Shadowed Axe (5)
- Most common weapons — Pickles Pike (51), Scavengers Blade (49), The Bloodletter (49)
Price and volume
With 184M ETH traded in just 2.5 days, Otherdeed has smashed through every volume record. Since the reveal, there have been ~2,580 Kodas land trades and ~17,437 from non-Kodas land trades.
Taking a closer look at floor price, we can see from the chart below that there has been a huge difference in floor price for Koda vs. non-Koda land. On average, land with Kodas has sold for 28.4 ETH whereas the current floor price for a land without a Koda is 3.69 ETH.
And for fun, we have to look at the top sale. The highest price sale was for this land below, at a steep price of 280 ETH ($797,000). The Koda sold on the land is indeed a Mega; with a rarity score of 10.
Outro
It’ll be interesting to see what Yuga Labs has in store for us with the Otherdeeds universe. Kodas have been the biggest conversation, but what will we learn about artifacts, land tiers, leveling up, etc. If your Koda is without a weapon, can it acquire one? Will there be a multiplayer dynamic where Kodas can team up? What are the possible things we can build on the land?
I’m looking forward to seeing how this all plays out.
As always, if you have any feedback or want to chat about NFTs, DeFi, etc — feel free to reach out on Twitter @seidtweets. Other than that, see ya in the Otherside metaverse.
