The hype over NFTs has brought a variety of collections to the marketplace. Many collectors are highly interested in buying NFTs based on their price utility or worth. This is why rarity ranking exists.
For people who have no idea about rare NFTs, the rarity tools like NFTStudio24 rarity tool help them in buying the right ones.
If you are aware of the types of NFTs, then you would know that generative art, PFP avatar, and collectibles feature 5,000 or 10,000 NFTs in one collection. Although the main art is the same, there are unique traits that make them distinct from one another.
For a collector buying one NFT from 10,000 NFT can be a challenge because they would never be able to pick out the rarest from the collection. The rarity tool is designed to help collectors “snipe” rare NFTs from the marketplace that holds value and is worth an investment.
But before we dive into the details of the rarity tool, you should know the basics of NFT rarity, how rarity ranking is calculated, and how you can benefit from different rarity tools available online.
What exactly is NFT rarity?
NFT rarity means picking out rare traits in an NFT that determine its value compared to other NFTs in the collection.
NFTs or non-fungible tokens are defined as irreplaceable digital assets that have a combination of unique characteristics that can only exist one in the world. The more scarce a trait is, the more likely for the NFT to be rare. These are picked out based on the supply and demand of the digital collectible.
For example, if an NFT has a unique trait that others in the collection don’t have, then that NFT would be more desirable and have a high rarity score.
In PFP avatar collections, NFT are usually divided into trait groups, sub-traits, and 1/1 traits that define the rarity. These traits can be anything that makes them scarce and unique.
For a better visual presentation of what rarity traits should look like, see the image above. The traits are divided based on the avatar’s body, background, hat, eyes, and outfits, which further specify a different range of combinations, making each NFT unique from one another.
For example, let’s take a look at the Doodles NFT rarities.
Doodles NFT collection features 10,000 Doodles with a variety of rarity traits. On NFTStudio24, Doodles has 6 trait groups: background, body, face, hair, head, and piercing. The sub-traits are further divided from where the rarity levels are picked by the Rarity tool and then ranking is done.
The highest ranking Doodle NFT actually has lesser common traits and is also in demand in the marketplace. The gold skin is rare, the ape type is only a few, and the combination of the traits is scarce. So, NFTStudio24 ranks Doodle #6914 no.1 among many NFTs.
Some traits are only a few in number and not common in every NFT in a collection. For someone not using a rarity tool, it will take hours or days to pick out a rare NFT, but with an NFT rarity tool like the NFTStudio24 rarity tool, it is easier and faster.
On the other hand, 1/1 NFT artworks are quite rare, are only a few in number, and have scarcity in each article. These works are easier to pick because all of them have high value in the market.
How is NFT rarity calculated?
When learning about NFT rarity, you might wonder, ‘there must be some kind of criteria or formula used to know the rarity of an NFT?’ Well, you are right. When the NFT rarity tool wasn’t invented in the beginning, dozens of excel spreadsheets were made for each collection to categorize traits and then use a formula to calculate the rarity score of one NFT.
Rarity.tools was the first to devise a formula for rarity score that stated:
This was a breakthrough in the NFT space as it completely revolutionized the way we see or judge NFTs for their value. This formula is derived from the following calculation methods:
- Trait rarity ranking (ranking only on the rarest trait).
- Average trait rarity (averaging the rarity of all traits together)
- Statistical rarity (multiplying all of the trait rarities together)
According to the medium post by Rarity.tools, the statistical rarity and average rarity rank are based on overall rarity levels of all NFT traits, while trait rarity focuses on the rarest single trait. All of these are combined in one formula of Rarity score that picks the single rarest trait and overall levels of traits.
This is only the basis of how the rarity score is calculated. With more advancements in the NFT space, the rarity tools on different platforms have applied different methodologies. NFTStudio24 also ranks rarity scores based on its own standards.
What are rarity tools?
Now that you know the basics of NFT rarity, understanding the rarity tool becomes easier.
Rarity tools are basically software programs designed for non-fungible tokens to score and rank NFTs based on their rarity traits. These tools help in picking out the rarest NFTs from the collection and give a detailed explanation of what specific traits make them rare.
Collectors can use the rarity tool to buy valuable NFT or sell their NFT at its definite price based on its rarity level. All platforms have different criteria for rarity scores even if the NFTs rank the same everywhere.
For example, on OpenSea, the ranking of an NFT will be different from the ranking on NFTStudio24 because both of them look at the asset based on their own standards. However, this doesn’t mean one rarity tool is authentic while another isn’t, it all depends on what standard that tool has set for scores.
How does the NFTStudio24 rarity tool work?
Using the NFT rarity tool is quite easy due to its easy user interface and simple features. These tools are specifically made straightforward so that people new to NFT trading can navigate without any problems.
Almost every rarity tool works the same way. On NFTStudio24, you can locate your favorite NFT collection from the search bar. For example, You want to know about Pudgy Pepes NFT. The collection page will open up with all the details on supply, floor price, trading volume, owners, etc. along with an NFT review of the collection.
On the left side, you will see a detailed description of the NFT collection and all its social links. Since NFTStudio24 is in partnership with OpenSea, all the NFTs are officially linked to its official OpenSea page.
In the above image, you can see that the NFTStudio24 rarity tool has ranked NFTs based on their rarity traits, making it easier for collectors to pick from the 10,000 collections.
Now, if you click on one of the NFTs from the collection, all the details will be listed so you can judge what NFT is best suited for you. Once you have decided, simply click on “Buy on OpenSea.”
You can view and purchase the NFT on OpenSea.
Top NFT Rarity & Analytics Tools in 2022
When it comes to rarity ranking, it is always recommended to look at different rarity tools before making a final decision. Here ar top rarity & analytics tools you should know as a collector:
- Rarity Sniper
- NFTStudio24 rarity tool
- Trait Sniper
- Dune Analytics
- NFT Scoring
- NFT Onchained
- Magic Eden
Rarity.tools is a diverse software that utilizes four calculation methods (mentioned above) to rank and score the rarity of every NFT. Users can simply filter out different characteristics based on their preferences to pick the best and rarest NFT from a collection while giving focused rarity information.
One thing many users complain about Rarity.tools is its complex UI that is hard to navigate for new buyers. Nonetheless, once you get hold of the tool, you can easily find purchasing opportunities when using it.
2. Rarity Sniper
Rarity Sniper is a well-known rarity tool in the NFT space that offers trading analysis features and rarity ranking on one platform. It has the most diverse features for people who want detailed info on each NFT collection’s rarity ranking and properties.
Many analysts use Rarity Sniper for analysis, news, and an upcoming drops calendar to keep themselves updated with the latest happenings within the NFT space. It also has a Discord community where NFT enthusiasts gather to discuss their observations and opinions on NFT collections.
3. NFTStudio24 rarity tool
NFTStudio24 is a media news platform that features a special Rarity Tool built with the latest technology and features. Its main focus is to empower new and emerging NFT artists by listing verified NFT collections, allowing small and big buyers to invest.
It has a diverse amount of NFT Collections listed and ranked based on the NFTStudio24 rarity ranking system. The platform allows creators to list their NFT collections and publish press releases to attract a global audience.
All in all, the NFTStudio24 rarity tool is the perfect software to buy and sell NFTs on different marketplaces.
OpenSea is the oldest and largest NFT marketplace that features a rarity tool for collections. Compared to NFTStudio24, OpenSea’s rarity ranking is based on volume, floor prices, etc. It also has Collection Stats to track 24h, 7d, 30d, and All ranks of NFT collections on demand.
Many users prefer using this rarity ranking tool instead of the focused ones because of its accuracy and authenticity. However, this platform might not be suitable for detailed trading analysis.
Etherscan is mainly an analytics tool where you can view all the details of a token only on the Ethereum blockchain. This website is like the search engine of NFTs to know the history of transactions, wallet owner addresses, transfers, loaning activity, and other descriptions of any verified collectible.
Many collectors use this tool before buying an NFT to ensure it’s minted from the right authenticated contract with no third party involved. For anyone buying from the secondary market, Etherscan is a great platform for research.
An analysis tool made for all assets in the NFT, DeFi, and Gaming market, DappRadar is an expert’s best pick when it comes to research or references. This is one of the most popular platforms in the world where accurate data on NFTs is stored.
On DappRadar, you can find the Top and latest NFT collection sales, Top Marketplaces, Top revenue-earning DeFi platforms, and much more. For every token, there’s a detailed description and its real-time sale volume on marketplaces.
The platform has recorded over 500,000 monthly user visits, which shows how reputable it is.
7. Trait Sniper
Trait Sniper is an NFT trading platform that is widely known for its fast transaction speed and calculating rarity traits of any NFT.
Sometimes you might find some new collection that has not been listed on the rarity tool platforms yet. Trait Sniper can help you find the rarity characteristic of the token instantly as soon as it’s minted.
The platform also leads in giving rankings of 30 seconds, so you can know the real-time value of the collection before anyone else does. Trait Sniper is a great tool for beginners in 2022.
Do you need research reports and analysis about NFTs? Nansen is the perfect tool for you! This platform features expert opinions, real-time crypto insights, and a deep dive into existing NFT collections so that users can make informed decisions.
It’s a premium-subscription tracking tool commonly used by big investors because all the insights on this platform are described by whales in the community. From Research, and blogs to guides, everything is available on Nansen.
So, if you have enough budget to pay the subscription and are quite invested in learning about NFTs, then this website is perfect for you.
9. Dune Analytics
Dune is a universal website to log in to all details about Crypto, Blockchain, NFTs, DeFi, and more. This analysis tool rivals Nansen because it also features insights from different field experts.
Most explanations on Dune Analytics are done through bar charts and line graphs for better understanding, so many people in the community, even those who aren’t much of experts, prefer it because it’s simple and up-to-date.
For high-class investors and collectors, there’s a subscription plan to buy for better results of their research and the latest news on the market to grab opportunities.
Cryptoslam is among the most-visited analytics tools to understand the rarity ranking of the NFT collections. If you want to know what collectibles are popular in real time, this platform has listed hour-by-hour updates on buying and selling in the market.
It’s an NFT aggregator that tracks daily sales volume, 24hr volume, trending NFT sales, global market, and even blockchain volume ranking. You can also use this tool to track buyers and collectors in the community to know their new moves.
Cryptoclam also offers consulting and NFT API services as products with affordable rates for a subscription.
NonFungible is a collector’s path to knowing the highly volatile NFT market while closely studying the ongoing trends within the community. It’s an analytics tool for in-depth research and a database about blockchain and collections in real time.
The best thing about NonFungible is you can view the total no. of NFT sales during a time period. There are educational guides, real-time NFT collection ranking, quarterly market reports, and other services that users can only avail of on this NFT tool.
12. NFT Scoring
NFT Scoring is a new analytics tool perfect for research on the latest NFT minting and sales. It’s kind of a rarity ranking platform where you can view every small collection and see their performance throughout the year.
NFT Scoring is solely made for collectors and investors in the NFT market to know future drops, Social Media Followers, and even Discord members in a community. It’s quite unique compared to other tools available. As of now, only the BETA version of this tool has been launched but the official release is coming soon.
13. NFT Onchained
NFT Onchained is an Artificial Intelligence powered NFT tool to track trending NFT collections, daily sales, along with NFT rarity ranking of the collections. The highlight of this platform is getting collectibles for the best bargains. It automatically lists down NFTs that are cheaper and awaiting ownership with its rarity ranking score for new and small investors.
Although NFT Onchained isn’t widely known, it has a unique model that makes it stand out from other platforms.
14. Magic Eden
Magic Eden is the world’s second-largest NFT marketplace built on the Solana blockchain that features its own rarity ranking and analysis tracking tool for collectors. It has a separate page on the website for NFT collection rankings along with details on trading sales volume and mint price.
The trading platform features stats of each collection, which can be viewed on the Insights tab. Furthermore, you can also view the performance of NFTs from the collection profile to know transaction history, wallet transfers, buyers, sellers, and average prices before buying. To know more about Magic Eden, see the guide.
BitDegree is yet another best-known tool among investors and collectors who want to grab first chances when it comes to buying NFT collections. With its advanced-level metrics and features, users can search among the thousands of collectibles on marketplaces along with their rarity ranking, sales volume, and their market performance.
This analytics tool also offers a dApp feature so that people who aren’t sure about decentralized apps on different blockchains can do research through BitDegree. It is one of the best alternative tools.
NFT rarity is a complex concept for new traders and collectors who aren’t familiar with how NFT collections are ranked or valued in the industry. To make things simpler, a rarity tool exists for making an informed decision.
However, the rarity of an NFT isn’t the only thing that makes it desirable, its utility is also a big factor. NFTStudio24 provides NFT reviews and the latest NFT news on collections to keep you updated.
Before buying any NFT, you should do personal research on the artist, company, utility, and then the rarity using the rarity tool to make your purchase worthwhile.
Note: NFTStudio24 doesn’t provide any financial advice to its readers. Make financial decisions at your own risk.