How To Use 5 Different NFT Tools To Check Your NFT’s Rarity Value?
The number of new investors in the non-fungible sector is expanding along with the NFT market’s explosive growth in 2021. These new owners frequently have no idea how to determine the NFT’s rarity value and are unaware they might have struck the non-fungible jackpot.
You can make better choices if you are aware of your NFT’s rarity. The majority of initiatives now start off with thousands of tokens. Depending on how frequently their features and properties occur or if they have notable combinations, some are valued significantly more than others.
Other variables can also affect rarity. For instance, you can “burn” NFTs in some deflationary projects to produce a new one. Knowing how rare your token is can help you decide whether to keep it or use it for one of these breeding techniques, for instance. If your token is very rare, you may want to keep it and let its value increase as the initial quantity gets smaller.
Understanding the rarity of your NFT is just like knowing the rarity of any other type of collectible for individuals who are only collectors. Any reputable development firm that also offers NFT Marketplace Development Services is the one you should contact.
Even if you don’t want to sell, the knowledge that you have a unique item is exciting and makes a lot of people happy.
Finding out the worth and scarcity of conventional collectibles can be challenging, but with NFTs, it’s simple. The “rarity score” used by NFTs is determined by comparing the quantity of tokens in the collection to the number of tokens with similar characteristics. The following is the formula that is most frequently used:
[Rarity Score for a Trait Value] = 1 / ([Number of Items with that Trait Value] / [Total Number of Items in Collection])
The token is rarer the higher the rarity score.
Here are 5 of the best tools you can use to evaluate the rarity value of your NFT collection.
Most collectors use Rarity Tools (https://rarity.tools/) to determine how rare an NFT is. With filters that may sort by the average price, how many owners a token has had, total sales volume, and, of course, the all-important average price, it leverages real-time data to rank NFTs inside collections. The user interface (UI) is uncomplicated and not unduly cluttered, and it has established itself as a benchmark for other products, with a tendency to imitate Rarity Tools’ design and layout.
Simply adhere to these procedures to use Rarity Tools to view a token’s rarity:
- On the top navigation bar, hover your mouse over “All collections.”
- In the search box, type the name of your token collection.
- Enter the ID of your token (found on OpenSea) there and click “Lookup” on the left-hand side.
- The rarity rating for your token will subsequently be displayed in a box that appears.
The window will display the asset’s characteristics, including how many other tokens share each characteristic. If you want to view the token on OpenSea, there is a button for that as well.
Users can view statistics like the floor price, the number of people who have owned a token in the past, and the amount of tokens in a collection on HowRare.is, just like Rarity Tools.
NFT collectors in Solana Beach can use HowRare.is as follows:
- First, use Solana Explorer (https://explorer.solana.com/) to locate the ID of your token.
- Then, in the search box at the top of the screen, input the name of your token collection and press Enter. On a mobile device, click the “burger menu” on the right to access the search bar.
- Enter your token ID in the “IDs” field under the filters menu after finding the collection; you can add more than one for comparing NFTs.
- Your NFT will subsequently be delivered to you (s). You can view the preview’s complete information, including its ranking, by clicking on it.
Utilising the metadata from collections on blockchains, Rarity Sniffer (https://raritysniffer.com/) can swiftly distinguish between items that are rare and those that aren’t. It serves as a ranking platform that aids investors in identifying promising investment opportunities. One of the quickest ways to determine whether an NFT collection is worthwhile to purchase is through this platform, which specialises in organising the metadata from recent releases. It can examine a 10,000-strong collection in less than 30 seconds by “sniffing” about 350 NFTs every second.
Although the website is about to use a new protocol, determining a token’s rarity is still a straightforward process:
- To locate your collection, use the main search bar at the top of the page or the submenu. (Take note that only recent and upcoming collections are frequently featured.)
- Type the ID of your token in the “Token ID Lookup” search box.
- Select your token’s preview on the results page.
- You can find the token’s rarity score in the pop-up.
- View your token’s characteristics and a breakdown of how they affect the rarity score by scrolling down. The contribution is shown by the green numbers.
Traitsniper is a tool for identifying upcoming projects and collections that could become the next big thing (https://www.traitsniper.com/). This is the most useful tool for locating the rarest tokens in collections, as new projects are starting up every day. The platform’s algorithm usually assesses and lists the rarity of NFTs in a collection in under two minutes. Professional investors who want immediate warning of NFT declines and rarity scores can benefit from the pro edition.
Traitsniper’s user interface is not the most straightforward to use due to the wealth of information. But you can easily do the following to determine the rarity score of an NFT:
- Find the “Project Name” search box and enter the name of your collection.
- Once on a project’s page, enter the ID of your token in the “Search” box.
- Discover the Rarity Rank and score of your token by clicking its ID after you’ve located it.
A tool called Rarity Sniper (available at https://raritysniper.com) allows users to compare NFTs from different blockchains, such as Ethereum, Solana, and Polygon. Rarity Sniper is an excellent resource for comparing the rarity of tokens and their characteristics as well as staying up to date on which collections are set to enter the minting stage.
Even though Rarity Sniper is a fantastic tool in and of itself, you can also find more information in the Discord community if you need it. Using the command:!rarity [type the collection here], the built-in rarity bot can check the value of your tokens in addition to being a wonderful resource for information about impending drops in the community. [Enter the token ID here] id/rank
To find a token rarity using Rarity Sniper’s website, take the following actions:
- Find the search option in the burger menu or on the left side of your screen.
- Enter your NFT ID in the “Check your NFT” search box after finding it in OpenSea or Solana Explorer.
- Your NFT will appear in the results along with a rarity ranking marked “RANK #.”
- A complete rarity score and trait breakdown are available by clicking or pressing the token preview.
With this understanding, you’ll be more equipped to comprehend the rarity of your investments, regardless of how you decide to check the rarity value of your NFT.