5/20/2023 0 Comments Rarify nft![]() ![]() Rarity Tools are software programs that calculate and rank NFTs based on their rarity. There are only 254 Apes with four traits in existence, thus increasing their rarity and inherent value.īut to truly explore and uncover the nuance among NFT rarity, one must use a rarity tool. In the case of BAYC, trait count is a community-specific attribute, with all Apes garnering anywhere between four and seven traits. In some cases, the lack of traits or the matching of traits (think: red shirt and red pants) will be perceived as having an additional value within a community. With 1/1 or limited edition artwork, limited supply can create both rarity and scarcity, driving value and demand. Credit: OpenSeaīut as with anything, there are exceptions to the rule. The count of total traits can also play a role, which it does in BAYC, bringing the total number of “sub-traits” to eight. Under each, lives a collection of sub-traits that carry varying levels of rarity based on the frequency of their occurrence across the collection. Let’s use Bored Ape Yacht Club as an example.Īs shown on OpenSea, BAYC features seven distinct trait groups: Background, clothes, earrings, eyes, fur, hat, and mouth. Most successful strategies include using trait groups, sub-traits, and 1/1 traits to create objective rarity. In the case of most PFP projects, rarity is derived from the exclusivity of traits, or the various building blocks and attributes that form the final token. Generally driven by the laws of supply and demand, rarity and market value go hand-in-hand. What is NFT rarity?Īs the name suggests, NFT rarity measures how rare an NFT is relative to the rest of the collection. So let’s dive deep into NFT rarity tools to uncover how rarity is calculated, how to use the tools, and the best tools to meet collectors’ needs. Others are more systematic, using NFT rarity tools to “snipe” NFTs off the secondary market by finding market opportunities where an NFT’s rarity (read: market value) and list price are misaligned. ![]() With the supply of most PFP projects at 10,000, the odds aren’t promising, but the potential to hit big is enough to pull in collectors. You never know the outcome, but there’s always the potential to pull out something rare. For many collectors, minting NFTs is like opening a fresh pack of baseball cards. For example, feelings of nostalgia and pride abound in digital ownership, reflecting how many feel about physical collectibles. Individuals are required to fully research any product prior to making any kind of investment.Despite troublesome times, the excitement surrounding NFTs perseveres. ![]() *All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. “We’re excited to partner with the Rarify team to accelerate their growth trajectory and make NFTs accessible to companies and, by extension, consumers at large.” – Pantera partner Paul Veradittakit This fresh addition of funds will enable Rarify to accelerate its growth, achieving this by both rapidly expanding its team, as well as launching a series of products alongside its enterprise partners. As such, they run a suite of API tools spanning a wide range of popular blockchains, thereby removing the onboarding hurdles many firms’ experience when integrating non-fungible tokens into their existing product lines. Rarify is an innovative new company specializing in the creation and management of NFTs for business with little experience in the technology. The bulk of the investment came at the hands of venture capital firm, Pantera, with additional support coming from Eniac Ventures, Greycroft, Hyper and Slow Ventures, to name but a few, demonstrating a huge amount of confidence in the project as a result. The funds raised will enable the plucky start-up to expand its digital horizons, and move its operations up a gear. NFT development studio, Rarify, has raised an incredible $10 million in Series A funding, leading to an overall company valuation of $100 million. ![]()
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