How to Use Rarity.Tools to Find the Rarest NFTs
Non-fungible tokens (NFTs) are extremely valuable; However, pinpointing those with the greatest potential can be difficult. Rarity.tools is one of the best NFT rarity discovery tools, arguably the most popular that is also free to use. It has an easy-to-understand user interface and contains all the data you need to make smart decisions regarding your NFT assets.
With that in mind, here’s everything you need to know about NFT rarity and how to use Rarity.tools to find an NFT’s rarity and set up alerts for the rarest NFTs.
What is NFT rarity?
NFT rarity measures the number of rare and unique NFTs in a given collection, their supply and demand at a given point in time. The rarest NFTs are those that are both scarce and in high demand. In most cases, these rare NFTs will increase in value as more people want them.
Because of this, it is important to know how rare an NFT is before selling or investing in an NFT.
Rarity.tools is one of the most popular tools that ranks generative art and collectible NFTs by rarity. It provides a clear and logical assessment of the rarity of specific collectible NFTs and can be used to determine how uncommon NFTs are. With this information, NFT collectors can evaluate and compare the relative value of individual NFTs.
You can filter NFTs on Rarity.tools based on top collections, total sales volume, average price and number of owners. Additionally, you can find out about top collections like Flyfish Club and Bored Ape Yacht Club and upcoming projects here. Rarity.tools has a clean and attractive user interface that makes determining NFT rarity a breeze.
There are several methods of calculating the rarity of an NFT, and each gives a different score.
Some methods use the average rarity of each trait, expressed by an NFT, to calculate overall rarity. Other methods ignore the rarity of all other traits and look at the rarest trait. Some people multiply all the rarity values of the traits listed in an NFT together.
In the end, different methods lead to different results and incomplete assessments. For example, some methods overestimate the rarity of each feature in the collection while neglecting the exceptional rarity of some outlier features. Others give the wrong impression by focusing on the rarest trait of an NFT and downplaying the importance of other rare traits.
Rarity.tools Rarity value of a property value
This calculation is done using this formula:
1 ÷ ([Number of Items with That Trait Value]/[Total Number of Items in Collection])
The best NFT marketplaces use this basic equation as the gold standard because it consistently delivers the same results.
Trait Rarity Ranking
This method does not compare the overall rarity of the item, but instead compares the rarest trait of each NFT to the entire collection. NFT features are features or characteristics that make the NFT unique, such as accessories, backgrounds, properties, and so on.
Average trait rarity
This method takes into account the general rarity of the features of the NFT, but does not take into account rare features of the NFT. Because of this, a unique feature of the NFT could be diminished by other features.
For example, consider an NFT with three features with probabilities of 5%, 15%, and 25%. This NFT will have an average trait rarity of (5+15+25)/3=15%.
This example shows how the relative prevalence of the other two traits overshadows the first trait, which has a rarity of 5%.
Statistical Rarity
It determines the overall rarity by multiplying all rare traits together. Therefore, based on the previous example, the overall NFT rarity would be (5% × 15% × 25%) = 18.75%.
You may have received an NFT mint in a generative collectible and are curious how rare it is.
Let’s say you’ve minted a Chimpers #2565 collectible and want to see how rare it is. Here’s how you can check:
- Go to Rarity.tools. Float on all collections, Then use the search box to find them chimpanzees Project.
- You can search for your chimps by using the I WOULD, Listing Type (Buy Now or Auction), Price (Min to Max ETH)and Rarity Ranks (min to max rank numbers) in the left sidebar of the resulting data dashboard.
- If you want to know what your character is made of in this hypothetical scenario, type 2565 in the ID search area and click look up. Next, a pop-up window similar to the one below will appear.
- As shown in the picture above, Chimpanzee 2565 has a rarity of #18. Out of the 5555 chimpanzees, the website currently ranks this NFT as the 18th rarest in its series. With additional data, expect these numbers to change.
- You can now see what the NFT’s Rarity Score is +2208 for chimpanzee #2565, was calculated in the image above. Rarity.tools also displays through OpenSea the highest reserve prices available for a given time period for a given NFT feature.
Besides Rarity.tools, there are other tools that you can use to calculate NFT rarity. These rarity tools each have their own way of calculating the rarity value of an NFT.
1. OpenSea
OpenSea is a great tool for determining the rarity of your NFTs based on the number of specimens in circulation. It’s also easy to use; Enter the name or ID of an NFT and it will return how many copies there are, how much they are selling for, what percentage of all transactions they represent, and so on.
All this information will help you better understand whether you should buy a certain item at its current price, whether you should wait until it spikes, or whether it would be better to sell some items before they fall in value .
2. Sniper Trait
With features like bulk bidding, advanced auto-sniping, and instant rankings, Trait Sniper is openly aimed at “expert” traders. NFT pinball machines rush to get the best deals, which they immediately relist at a higher price in hopes of making a quick profit after Trait Sniper has scanned a collection and ranked the pieces.
The free and premium versions of Trait Sniper offer different levels of surveillance access. For example, when you purchase an Alpha Sniper Pass, you’ll receive instant notifications of newly revealed NFT collections and their rarity values, compared to an hour’s waiting time for free users. Among other things, using Trait Sniper is only worth it if you are willing to pay.
3. Icy.Tools
Icy.tools is a service with several great analysis tools launched during the NFT industry boom. You can easily find hot projects on the platform and keep track of minimum prices, volume and other information.
On the Icy.tools platform, many of the tools are free, and you can unlock premium features for a relatively small monthly fee. NFT maximalists favor the company because it has a voice that is strongly aligned with the values of the NFT community.
4. RaritySniffer
Similar to Traitsniper, RaritySniffer provides the latest rankings of new NFT projects based on their rarity. In addition, the platform only displays sniffed projects for free users and informs about the latest NFT collections.
Users must subscribe to the Discord channel for more analysis on potentially rare NFTs. This provides unique access to the rarity status of freshly minted NFTs that have been scented before being released to the general public.
Why rarity matters for NFTs
Rarity is an important factor in determining the value of an NFT. NFT rarity tools help ensure you get the most accurate rarity estimate possible. Additionally, they make it easier to get the best price on a particular NFT if it turns out to be a lower rarity than you originally thought.
So if you enjoy collecting rare items or want to make sure your NFTs have the best value before putting them up for sale, consider using one of these tools. You’ll take the guesswork out of figuring out how rare NFTs are, allowing you to safely buy or sell digital assets.