Understanding NFT Rarity Calculation
On Discord, Telegram and every social media platform, one of the most common things asked is the rarity of an NFT with NFT enthusiasts consistently looking for that exclusive, uncommon and ‘unlike any other’ NFT gem.
Each NFT in a collection has a unique set of traits, be it- background, accessories, color etc. and there are various tools tht are accessible by everyone to find out how unique a piece actually is.
In this article we will discuss how different tools calculate rarity and how NFTHelpr can help you trade your way into a rare NFT.
Different NFT Rarity Calculation Methods
Rarity Score of a Trait Value used by rarity.tools
= 1 ÷([Number of Items With That Trait Value] /[Total. Number of Items in Collection])
This simple equation is considered the standard as it gives consistent results and because of its simplicity, it is used by various NFT marketplaces.
Trait Rarity Ranking
This method compares only the rarest trait of each item to the entire collection and not the overall rarity of the item.
Average Trait Rarity
This method takes into account the overall rarity of the item’s traits but lacks in considering any extremely rare trait of the item at hand. It can cause a situation where a certain ‘one in a kind’ trait could be diluted by other traits of the item.
For example: Imagine the NFT has 3 traits with a probability of 5%, 35% and 50%. Therefore it’s average trait rarity will be:(5+35+50)/3= 30%.
As we can see in this example, the first trait with a rarity of 5% is being overshadowed by the relative commonality of the other two traits.
Statistical Rarity
It calculates the overall rarity by multiplying all trait rarities with one another. Therefore from the above example, we would have (5% × 35% × 50%)=87.5% overall NFT rarity.
NFTHelpr & Rarity
NFTHelpr recognizes that rarity is the key to make lucrative trades. Therefore on it’s multi-functional platform, NFTHelpr has an OpenSea integrated rarity information feature that conveniently provides a piece’s stats such as- rarity score, rank and floor price.
By avoiding the need for multiple tabs to cross-check rarity informations, NFTHelpr’s rarity provider complements its other features such as mass bidding, automated outbidding on auctions and many more to give all users a seamless NFT trading experience.
Moreover, NFTHelpr’s mass bidding functionality on multiple items across OpenSea also helps in increasing your chances to get your hands at least on one of many rare NFTs. With it’a ‘One-Cancels-Other’ feature, users can engage in obtaining a piece also on a minimal budget!
NFTHelpr levels the playing field and with the popularity of NFTs on the rise, there will be more and more competition entering the market for rare NFTs. Thus using NFTHelpr’s user-friendly and innovative platform, you can equip yourself better for the future.
About NFTHelpr
NFTHelpr is the ultimate curation tool for NFT traders and Investors. Gain an edge with getting access to your partner’s tools and we mint in June 2022.
We are proud to bring the NFT community over 3 ETH in value worth of NFT tools at a much more accessible price. We are one tool tool to access them all: KingdomNFT, NFT Nerds, Compass, SnipeSea and many more!
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