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How to Find Rare NFTs? Is Rarity Important and What Tools to Use
The word “rare” is often associated with an item that’s more coveted, more valuable, and more unique. The same thought process applies to NFTs. NFTs with rare traits can go for a lot more than more common ones. Before you invest your hard-earned money, it is a good idea to do your research. So, how do you find rare NFTs? We’ll tell you!
What is a Rare NFT?
What constitutes a rare NFT? Is it how many were minted, or the traits it possesses? Generally, NFT collections consist of many tokens, as many as 10,000 or more. What defines rarity in these cases is what one has that sets it apart from the rest – the traits.
For instance, if a collection of 50 has 5 traits (1, 2, 3, 4, 5) and trait 1 is only present in one of the tokens, while trait 5 is in 40 of them, then you know the single NFT with trait 1 is the most valuable.
As of now, NFT rarity and market value are closely related.
How to Find NFT Rarity
It can be tough to do your own research as there are thousands of NFT projects out there. But luckily for the average person, there are tools available to help!
As the first and largest NFT marketplace, it is no surprise that OpenSea can give you access to most projects out there. While they do not have a rarity tool of their own as of now, they work with a lot of extensions that can.
OpenSea is also one of the most organized and intuitive platforms to use, even if you are not well-versed in NFTs. When you explore and click on a collection, you can filter through the tokens by traits, price, and status.
Read more: How to Buy NFT on OpenSea
Nansen is an NFT and crypto analytics platform that gives you valuable insight into good buys and investment opportunities. It is more of an investment tool rather than one that specifically targets rarity, but the results could point to the rare and desired NFTs.
Sometimes getting in on the ground floor of NFT Drops can give you more of a chance to grab a rare NFT. Crypto Slam gives NFT rankings on each collection in the categories of sales volume, buyers, the change in the price and more.
Now Rarity Sniffer is a dedicated rarity tool. There are many random NFT drops where you would purchase one without knowing which one you’re getting. Once it is revealed to you, Rarity Sniffer comes in to determine rarity of an entire collection.
Tools to Find NFT Rarity
Here are some tools you can use that also help identify the rarity of an NFT.
Rarity Sniper is a very popular choice for NFT collectors. Just look at the number of Twitter followers and Discord members it has. If you’re not an Ethereum person, that’s okay, because Rarity Sniper helps to determine rarity across various blockchains.
Rarity Tools is a tad more limited than Rarity Sniper, in the sense that they give one single rating calculated 1 of 4 ways. You can explore collections and rankings filtered by attributes.
Trait Sniper is an NFT trading platform that uses bots to detect rarity of a piece. Of course, like Rarity Tools, you can set the parameters in which to filter such as trait, rank and price.
How to Use NFT Rarity Tools
Let’s take Rarity Sniper for example. You can easily use the search bar to find the collection you’re looking for, like Bored Ape Yacht Club (BAYC).
After that, you will be led to a page that lists statistics such as supply, price, owners, etc. You can sort through with more filters and reorder the rankings with the platform’s features, or you can find the rarity of a specific token the NFT ID in question.
You will then be presented with a full breakdown of the rarity of your NFT.
Is NFT Rarity Important?
It can be, but it may not always have the results you want. Many people may immediately think that getting their hands on a rare NFT means they can instantly flip it for a profit. While this may be true at times, the determiner is still the collection.
Something is only worth what someone is willing to pay, and the value people assign to it. A Chanel classic flap is worth a lot of money, but if you have no one willing to shell out that much money to take it off your hands, then is it worth the value?
FAQ
• Does Opensea calculate rarity?
OpenSea itself does not calculate rarity. However, there are many extensions that work with your browser when you are on Opensea to determine the rarity of an NFT collection. Options are NiftyRiver, Rarity Ranks, and more.
Conclusion
How do you find rare NFTs? It’s important to realize that while rare can equal more valuable monetarily, it isn’t always true if no one is willing to bite. The rarity of your NFT can be calculated on certain platforms or with browser extensions, but keep in mind that rarity is a factor for consideration rather than a benchmark for investment.
