📖
Web3 Encyclopedia
  • Welcome aboard!
  • Source
  • 😀Evolution from Web 1.0 to Web 3.0
    • Web 1.0 Web 2.0 Web 3.0
    • Key Features
    • Current Limitations
    • Future of Web 3.0
    • Learn: What Is Web3?
    • Learn: Will Every Brand Have a Web3 Strategy?
    • Learn: Big Ideas in 2023
    • Learn: The Web3 Paradox: Why Scaling Usage Alone Won't Lead to Mass Adoption?
    • Learn: Is Web3 A Marketing Buzz or Tech Revolution?
    • Learn: What is the relationship between blockchain and Web3?
    • Learn:Empowering Women in Web 3.0: The Role and Contributions of Women in Blockchain, DeFi, and dApp
    • Learn: Web 3.0 and the Future of E-Commerce
    • Learn: 12 ways ecosystem projects can attract more developers
    • Learn: How Web3 is Impacting Education?
    • Learn: Web3 And The Future Of Digital Advertising
    • Learn: Web3’s impact on personalization, trust and engagement
    • Learn: Web3-Powered Identity Management -- Unlocking the Benefits of Decentralization
    • Learn: Why Web2 companies fail in Web3 while others made it?
    • Learn: To Identify or Not in a Web3 World?
    • 🤫[Insider Series] McKinsey x Web3
    • TL;DR 👀
  • 💲Blockchain Fundamentals
    • Why is Blockchain So Popular?
    • Introduction to Blockchain
    • Blockchain Misconceptions
    • Blockchain vs Bitcoin, Database, Cloud
    • Consensus Mechanism
    • Public and Private Keys
    • Hash Functions and Cryptography
    • Sharding
    • Types of Blockchains: PoW, PoS and Private
    • Understanding Cryptocurrency
    • Coins vs Tokens
    • Blockchain Trilemma
    • Legality
    • Learn : Google’s Cloud Based Blockchain Node Service
    • Learn: How Blockchain, Digital assets, and Web3 Unlock Financial Inclusion Globally
    • Learn: Will Chinese-Made Crypto Soar Higher?
    • Learn: What Does MiCA Mean for Crypto in Europe?
    • Learn: Unraveling the Intricacies of Blockchain Forensics and Asset Tracking
    • Learn: Promising blockchain use cases in healthcare industry
    • Learn: The Role of Blockchain in Authenticating and Provenance Art
    • Learn: Blockchain-Based Digital Identity: Benefits, Risks, and Implementation Challenges
    • Learn: The Future of Energy Supply Chains
    • Learn: Revolutionizing smart contracts and cryptocurrency
    • Learn: Nigeria goes blockchain
    • Learn: A Game Changer for Online Gaming?
    • Learn: Is blockchain technology ready for high-storage applications?
    • Learn: Will Blockchain Technology Mark a Turning Point in Fraud Prevention?
    • Learn: Why ZK-rollups need data availability?
    • Learn: How will generative AI disrupt blockchain?
    • Learn: A New Blockchain for Generative AI?
    • TL;DR 👀
  • 🏟️Web3 Utilities
    • Decentralized Applications (dApps)
    • Cross-chain Bridges
    • DAO
    • Artificial Intelligence
    • Learn: Is Community-building Essential for Web3 Startups?
    • Learn: ‘Decentralization Theater’
    • Learn: Crypto and AI- A yay or nay combination?
    • Learn: Dissecting the DAO
    • Learn: What is motivating Lido DAO to rise?
    • Learn: How to Turn Your Community Into a DAO?
    • Learn: The Key to Decentralized Decision Making
    • Learn: How Web 3.0 can disrupt the supply chain industry?
    • TL;DR 👀
  • 🪙Bitcoin
    • What is Bitcoin
    • Bitcoin's Blockchain Technology
    • UTXO Model and Transaction Fees
    • Bitcoin Mining and Mempool
    • Learn: What is bitcoin mining?
    • What are Hard Forks and Soft Forks
    • What is SegWit and the Lightning Network
    • Bitcoin Ecosystem
    • Can Bitcoin be Destroyed? Game Theory and Network Attacks
    • Learn: Crypto token supplies explained
    • Learn: What is crypto tax-loss harvesting, and how does it work?
    • Learn: Can Crypto Go Green? How to Invest in Eco-Friendly Cryptocurrencies
    • Learn: Why Did FTX Collapse? Here’s What to Know.
    • Learn: How Sam Bankman-Fried swindled $8 billion in customer money?
    • Learn: How much is Bitcoin worth today?
    • Learn: The Costs of Running a Bitcoin Node In Nigeria
    • Learn: Has 2022 Left Any Crypto Positives?
    • Learn: How Crypto Exchanges Can Be Free of Risk?
    • Learn: Greed, Lies and FTX: Is Crypto a Force for Good or Evil?
    • Learn: Is Crypto a Cultural Movement?
    • Learn: What are the consequences of crypto’s ongoing regulatory process?
    • Learn: Beyond the Crash and Embracing NFTs?
    • Learn: Understanding crypto bag holders and their mindset
    • Learn: Inscriptions: Just A Fad, Or A Real Threat To Bitcoin Becoming Decentralized Money?
    • Learn: How Bitcoin Ordinals Can Change the Future Of Mining?
    • Learn: What is a supernet?
    • Learn: Bitcoin Miners Celebrate 10 Years Since First ASIC, What Changed Since Then?
    • Learn: Bill Vs. CBDC – Why This US Congressman Wants To Block The Fed From Issuing A Digital Dollar?
    • Learn: Why Bitcoin Will Blow People’s Minds In 2025?
    • Learn: How the Howey Test Sheds Light on Cryptocurrency's Regulatory Gray Area
    • Learn: Cryptocurrency vs AI: A Complex Debate
    • Learn: Where the U.S. Government Went Wrong in Regulating Crypto?
    • Learn: The Nostr Privacy Paradox
    • Learn: Do algorithmic stablecoins have a future as centralized coins are under scrutiny?
    • Learn: Is Bitcoin Set To Revolutionize The Financial World With Its Superior Purchasing Power?
    • Learn: What is Shibarium, and what does it mean for Shiba Inu?
    • Learn: What is a crypto dusting attack?
    • Learn: Is the Adoption of Central Bank Digital Currencies (CBDCs) the Future?
    • Learn: How Artificial Intelligence Could Revolutionize Crypto?
    • Learn: What’s next for EU’s crypto industry as European Parliament passes MiCA?
    • Learn: Why the EU Has MiCA and the U.S. Has Securities Law Confusion?
    • Learn: Six New Projects Looking to Mitigate Bitcoin Mining’s Energy Footprint
    • Learn: Who on Crypto Twitter chose not to pay for a blue checkmark?
    • Learn: What is the wash-sale rule in Crypto?
    • Learn: What is Pepecoin and can it flip memecoins Dogecoin and Shiba Inu?
    • Learn: Can you recover stolen Bitcoin from crypto scams?
    • Learn: What the ‘anti-mining bill’ means for the crypto industry in Texas?
    • Learn: Does the US have a crypto ‘tax loophole’ problem?
    • Learn: How users can stay protected?
    • Learn: How Crypto Revolutionize Cheaper and Faster Transactions?
    • Learn: Can NFTs and CFDs be BFFs?
    • Learn: A PR expert’s tips for memecoin projects
    • Learn: Why politicians aren't convinced about the Digital Euro?
    • Learn: How A 90-Year Old TA Theory Predicted The Sudden Bitcoin Boom?
    • Learn: Social Trading Platforms and CFDs: A New Paradigm in Investment
    • Learn: How could the Chinese economic crisis impact Bitcoin and crypto?
    • Learn: How do they compare: Bitcoin IRA vs. traditional IRA?
    • Learn: Why Tokenized Assets Are Safer During a Banking Crisis?
    • TL;DR 👀
  • 🛢️Ethereum
    • Bitcoin vs Ethereum
    • What can Ethereum do?
    • What is Ether (ETH)?
    • What's Unique About ETH?
    • What are Smart Contracts?
    • Energy Consumption?
    • Ethereum Virtual Machine (EVM)
    • Pros & Cons of Smart Contracts
    • Decentralized Applications (dApps)
    • Ethereum Token Standards (ERC-20, ERC-721 and ERC-1155)
    • Evolution of Ethereum
    • How to Get Your First Ethereum
    • Learn: Next Ethereum Upgrade — Shanghai Upgrade
    • Learn: Tipping Scale for Crypto Adoption: Usability vs. Accessibility
    • Learn: Major Publicly Traded U.S. Bitcoin Miner Files For Chapter 11 – Impact On The Market?
    • Learn: 5 altcoin projects that made a real difference in 2022
    • Learn: How Tether Can Be a More Stable Stablecoin?
    • Learn: Are the Ethereum Killers Still Deadly?
    • Learn: What Ethereum Tech Trends Are Weathering the Bear Market?
    • Learn: How Ethereum’s token burns are making it a deflationary cryptocurrency?
    • Learn: A few things to know about Ethereum's Shanghai Upgrade
    • Learn: The Role of Enterprise Ethereum
    • Learn: Understanding Layer 2 Scaling Solutions for the Ethereum Network
    • Learn: The Battle of Giants: Bitcoin vs Ethereum
    • Learn: Cryptography, Smart Contracts and Distributed Networks
    • Learn: The Memecoin Grift and How It Threatens Ethereum Culture
    • Learn: What Is Ethereum’s ‘Data Availability' Problem, and Why Does It Matter?
    • TL;DR 👀
  • 👛Wallet
    • What is a Blockchain Wallet?
    • Hardware / Software Wallet
    • How to Get Your First Cryptocurrency
    • Setting up Metamask Wallet
    • Learn: How to connect the Avalanche network to MetaMask?
    • Learn: How to pass on your crypto when you die?
    • Learn: What are hierarchical deterministic (HD) crypto wallets?
    • Learn: Pros and Cons of Digital Wallets
    • Learn : How Web 3.0 Wallets Are Redefining Digital Asset Security?
    • Learn: Open source: Buzzword or real security for crypto wallets?
    • TL;DR 👀
  • 🌕New & Rising Protocols
    • Binance
    • NEAR
    • Solana
    • Fantom
    • Polygon
    • Cardano
    • Polkadot
    • Cosmos
    • Harmony
    • Cronos
    • Optimism
    • Terra
    • Who Will Win the L1 Wars?
    • Learn: New Layer 1 Blockchains Are Expanding the DeFi Ecosystem But No Eth Killers Yet
    • Learn: Is an Increased Focus on Layer-2 Scaling and ZK Technology Justified?
    • Learn: What Are the Stakes in the SEC vs. Ripple Case?
    • Learn: What is The Graph, and how does it work?
    • TL;DR 👀
  • 📈Decentralized Finance (DeFi)
    • CEX vs DEX
    • CeFi vs DeFi
    • Algorithmic Stablecoins
    • Airdrop
    • Liquidity Pool
    • Impermanent Loss
    • Swapping
    • Wrapped Token
    • Arbitrage Opportunities
    • Staking
    • Yield Farming
    • Total Value Locked (TVL)
    • Gas Fees
    • Lending & Borrowing
    • Useful Tools
    • Activity: Uniswap & Pancake Swap
    • Learn: Automated Market Makers (AMMs) in DeFi
    • Learn: Crypto Moving towards ESG: What Is Regenerative Finance (ReFi)
    • Learn: What Is dYdX? Understanding the Decentralized Crypto Exchange
    • Learn: It's A Wrap - DeFi in 2022
    • Learn: Why DeFi should expect more hacks this year?
    • Learn: The Security Challenges of DeFi
    • Learn: The Promising Future of Decentralized Social Media on Web 3.0
    • Learn: Can CBDCs, Tokenized Deposits, Stablecoins and DeFi Coexist?
    • Learn: The Increasing Popularity of DeFi and Its Potential to Disrupt Traditional Finance
    • Learn: The future of DeFi is ReFi
    • Learn: DeFi aggregation
    • TL;DR 👀
  • 🙈Non-Fungible Token (NFT)
    • What are NFTs?
    • Case Study
    • Storage
    • Who are the Players?
    • NFT Marketplace
    • NFT Useful Resources
    • Activity: Mint Your Own NFT
    • Learn: How You Can Prevent Hackers From Stealing Your NFTs?
    • Learn: What Is an NFT Floor Price?
    • Learn: Should Bored Ape buyers be legally entitled to refunds?
    • Learn: China’s view of NFTs different from rest of the world’s
    • Learn: NFTs IRL: How Digital Collectibles Are Forging Offline Experiences
    • Learn: How NFT Brands Can Cut Through The Noise
    • Learn: How Web3 disrupts the music sector?
    • Learn: Unlockable content in NFTs
    • Learn: Why Meta Matters in NFTs?
    • Learn: Should NFT Marketplaces Become Centralized?
    • Learn: Hermès vs. MetaBirkins: The NFT Case That Could Have Major Trademark and Artistic Consequence
    • Learn: What are phygital NFTs, and how do they work?
    • Learn: What is NFT ticketing and how does it work?
    • Learn: Why Solana NFT marketplace is seeing less active users?
    • Learn: NFTs and Intellectual Property
    • Learn: How AI Is Changing Artistic Creation and Challenging IP Laws?
    • Learn: The Future of NFTs: Exploring Dynamic NFTs and Their Versatile Use Cases
    • Learn: NFTs in the event and ticketing industry
    • Learn: What is NFT rarity, and how to calculate it?
    • Learn: What happens to your NFTs when you die?
    • Learn: Dogecoin-Like Spike in Milady NFTs After Elon Musk’s Tweet, But Will It Last?
    • Learn: What are NFT royalties, and how do they work?
    • Learn: How developers aim to store crypto inside NFTs?
    • Learn: Generative Art NFTs: What Are They & Why Are They So Popular?
    • TL;DR 👀
  • 💗Metaverse
    • What is the Metaverse?
    • Metaverse Economy
    • Metaverse Companies
    • GameFi
    • Learn: Are We in the Metaverse Yet?
    • Learn: Can the Metaverse exist without blockchain?
    • Learn: Can the Metaverse Facilitate Sustainable Growth of Defi Systems?
    • Learn: What is the role of biometrics in the metaverse?
    • Learn: Can metaverse be the future court?
    • Learn: Metaverse Fashion Is on the Rise, but for Whom?
    • Learn: Sustainability in the Metaverse: Challenges and Opportunities
    • Learn: How To Build A Responsible Metaverse?
    • Learn: What is a VTuber, and how do you become one?
    • Learn: How proof-of-identity provides human experiences?
    • Learn: The “Metaverse” Next Frontier for Business: Impact And Challenges
    • Learn: The 5 Biggest Misconceptions About The Metaverse
    • Learn: Why culture and ownership are critical to the metaverse?
    • TL;DR 👀
  • 👾Career in Web3 (coming soon)
    • Developers
    • Moderators
    • Community Managers
    • UI/ UX Designers
    • Digital Fashion Designers
  • 🌱Sustainability (Coming Soon)
    • Industry Effort
    • Co-author
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On this page
  • NFT rarity, explained
  • What is an NFT rarity checker?
  • How do you determine NFT rarity?
  • How are NFT rarity rankings calculated?
  • Is a high rarity score good for an NFT?
  1. Non-Fungible Token (NFT)

Learn: What is NFT rarity, and how to calculate it?

NFT rarity is the uniqueness and scarcity of a nonfungible token, calculated using factors, such as distinguishing features and demand.

PreviousLearn: NFTs in the event and ticketing industryNextLearn: What happens to your NFTs when you die?

Last updated 2 years ago

An NFT’s rarity plays a role in its perceived cultural and artistic significance. For example, an that is the only one of its kind and possesses significant cultural or historical value may be considered a rare and must-have artifact. But why is NFT rarity important?

NFT rarity is important because the market worth and appeal of an NFT can be significantly influenced by the nonfungible token’s rarity, which can also influence its resale value. Moreover, NFT collectors frequently look for unusual and distinctive nonfungible tokens to add to their collections.

Nonetheless, it is crucial to remember that an NFT’s worth or relevance is not necessarily determined by its rarity alone. Other elements that may affect the value and appeal of to collectors include the caliber of the artwork, the reputation of the artist and the cultural or historical relevance of the piece.

This article will discuss the concept of NFT rarity, what determines NFT rarity and common techniques for calculating NFT rarity rankings.

NFT rarity, explained

NFT rarity refers to the of a particular nonfungible token in a collection. The overall number of nonfungible tokens in a collection, the number of copies of a certain nonfungible token in a collection and the unique qualities or traits of a particular NFT are all factors that affect nonfungible token rarity.

For instance, certain NFT collections could contain a small total number of NFTs, which can increase the rarity of each nonfungible token in a given collection. Some collections might have a lot of NFTs, but a might be uncommon because it has distinctive qualities, such as a particular color scheme, animation or sound effect.

What is an NFT rarity checker?

An NFT rarity checker is a tool or service that allows users to assess the rarity of a nonfungible token, whose value is frequently based on its scarcity, rarity and uniqueness.

As an alternative, an NFT rarity checker might assess the demand for a certain nonfungible token or the quantity of copies of that NFT that are currently on the blockchain to determine how rare it is.

Here are some common steps that an NFT rarity calculator may follow to determine the rarity of a nonfungible token:

  • Identify the rarity: The calculator must first determine the precise NFT that is being assessed. This may involve entering the token ID for the nonfungible token or other identifying information.

  • Collect data: The calculator then gathers information about the NFT, such as its characteristics, sales performance and blockchain data.

  • Analyze attributes: The calculator may evaluate the NFT’s visual and other properties, including its pixel density and other distinguishing features.

  • Assess rarity: Based on the information gathered and the examination of the nonfungible token’s characteristics, the calculator can then utilize algorithms to determine the NFT’s rarity. The NFT may be compared to other nonfungible tokens in the same collection; sales information and market trends may be examined.

  • Provide results: The calculator also offers a numerical evaluation of the NFT’s rarity, which is frequently presented as a score or rating. Buyers and sellers can use this information to estimate the NFT’s value.

However, the rarity and value of an NFT can also be influenced by other factors, such as the present market conditions and buyer and seller sentiments, so it is crucial to keep in mind that these calculators are not ideal.

How do you determine NFT rarity?

Determining NFT rarity can involve various factors depending on the specific nonfungible token and the attributes that it possesses. One of the key elements that can indicate an NFT’s uniqueness is its scarcity. NFT collections are more likely to be rare and valuable if there are fewer copies of them than if there are many. By counting all of the copies of a nonfungible token that are present on the blockchain, it is possible to estimate its rarity.

Nonfungible tokens can have a number of characteristics that contribute to their rarity. An NFT might, for instance, stand out due to its distinct color scheme, an uncommon combination of characteristics or a particular theme or subject matter. These characteristics can be examined and compared to those of other nonfungible tokens in the same category to determine how rare an NFT is.

Popularity and demand can also affect NFT rarity. That said, NFT collections are more likely to be rare and expensive if there is a great demand for them. Sales information, social media mentions and other popularity indicators can be used to determine this.

An NFT’s history or provenance may have an effect on its rarity. A nonfungible token may be rarer and more expensive than other NFTs if it has a distinctive past, such as having once belonged to a celebrity or being featured in a well-known meme.

How are NFT rarity rankings calculated?

Depending on the particular NFT collectibles, the number of editions or copies that exist within that collection and the demand for that particular NFT within the marketplace, there are numerous approaches to generating nonfungible token rarity rankings.

Typically, the formula involves giving each quality or trait a numerical value before summing them to determine the rarity score. However, depending on the NFT platform or market, the precise formula may change. To calculate rarity scores, some platforms may also use external data sources or machine learning algorithms.

For instance, platforms, such as Rarity.tools and Nansen employ algorithms to examine the characteristics and properties of each NFT contained in a collection and calculate the rarity score.

In general, here are a few common techniques to determine NFT rarity rankings:

  • Algorithmic scoring: One method for determining NFT rarity rankings is to employ an algorithmic scoring system that rates each nonfungible token according to a number of criteria, including rarity, qualities, popularity and provenance. The rarity of NFTs can be ranked using these metrics.

  • Comparative analysis: In this method, each NFT is compared to other nonfungible tokens from the same collection or category. This analysis can provide a qualitative rating of each NFT’s rarity by taking into account variables, such as scarcity, qualities, sales history and market trends.

  • Data analysis: Data analysis, such as sales data or social media mentions, can also be used to determine nonfungible token rarity rankings. This study can reveal what NFTs are the most well-liked and in-demand, and it can be used to rank the rarest and most expensive nonfungible tokens.

  • Community feedback: The opinions of NFT collectors, creators and specialists can have an impact on the rarity rankings of nonfungible tokens. The rarest and most expensive nonfungible tokens in a certain category or collection can be ranked using an amalgamation of these ratings.

Is a high rarity score good for an NFT?

Do you wonder what a good NFT score is or if a high rarity score means the scarcest nonfungible token? The answer is that there is no one-size-fits-all approach to what constitutes a “good” NFT rarity score, as the score will depend on a variety of factors, such as the specific nonfungible token collection, the attributes or traits being measured and the prevailing market conditions.

As a result, while a high rarity score might be a reliable indicator of a nonfungible token’s value and originality, it is essential to take other aspects into account when determining the value of a nonfungible token.

The value of NFT collectibles can be significantly impacted by its rarity. Due to their increased value and demand from collectors, the price of rare NFTs may rise on . Some NFT projects have even created algorithms to figure out the rarity of specific NFTs within a collection, which can provide buyers and sellers with more knowledge when figuring out the worth of an NFT.

To determine an NFT’s rarity, nonfungible token rarity calculators examine a variety of features of the nonfungible token, including its properties, metadata and characteristics. An NFT rarity checker, for instance, might evaluate the color scheme, pixel density or other image to ascertain its rarity.

Furthermore, even if a high rarity score can be seen favorably for an NFT, rarity scores are frequently arbitrary and susceptible to a variety of influences, as mentioned above. Additionally, a high rarity score does not always imply a because other elements, such as the fame of the artist and the cultural or historical relevance of the nonfungible token, might also come into play.

This article first appeared in Cointelegraph, by

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NFT marketplaces
visual characteristics of an nonfungible token
significant value or resale price
Onkar Singh
nonfungible token (NFT)
nonfungible tokens
uniqueness or scarcity
specific nonfungible token