How to Use Rarity.Tools to Find the Rarest NFTs

NFT


Non-Fungible Tokens (NFTs) are extremely valuable; however, it can be difficult to determine which ones have the most potential. Rarity.tools is one of the best and possibly the most popular NFT rarity discovery tool that is also free to use. It features an easy-to-understand user interface and has 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 particular collection, their supply and demand at any given time. The rarest NFTs are those that are rare and in high demand at the same time. In most cases, these rare NFTs will increase in value as more people want them.

That is why knowing how rare an NFT is is essential before selling or invest in an NFT.

Rarity.tools is one of the most popular tools that ranks generative art and collectible NFTs based on their rarity. It offers a clear and logical ranking of the rarity of specific collectible NFTs and can be used to determine how rare NFTs are. With this information, NFT collectors can assess 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. In addition, you can use it to learn about the best collections, such as Flyfish Club and Bored Ape Yacht Club, and upcoming projects. Rarity.tools features a clean and attractive interface that makes determining NFT rarity very easy.

There are several methods for calculating the rarity of an NFT, each giving a different score.

Some methods use the average rarity of each trait expressed by an NFT to calculate the overall rarity. Other methods ignore the rarity of all other traits and consider the rarest trait. Some people multiply all the rarity values ​​of the listed traits in an NFT combined.

In the end, different methods produce different results and incomplete evaluations. For example, some methods overestimate the rarity of every feature in the set while neglecting the extraordinary rarity of some outlier features. Others give an inaccurate impression by concentrating on the rarest trait of an NFT and downplaying the importance of other rare traits.

Rarity.tools Rarity score of a trait value

This calculation is arrived at using this formula:

1 ÷ ([Number of Items with That Trait Value]/[Total Number of Items in Collection])

The best NFT markets use this basic equation as the gold standard, as it always gives the same results.

Trait Rarity Ranking

This method does not compare the overall rarity of the item, but rather the rarest trait of each NFT against the entire collection. NFT traits are features or characteristics that make the NFT unique, such as props, backgrounds, properties, etc.

Average Trait Rarity

This method considers the overall rarity of NFT traits, but does not consider any rare NFT traits. Because of this, a single trait of the NFT could be diminished by other traits.

For example, consider an NFT with three traits with probabilities of 5%, 15%, and 25%. This NFT will have an average trait rarity of (5+15+25)/3=15%.

This example demonstrates how the relative prevalence of the other two traits dwarfs the first trait, which has a rarity of 5%.

Statistical Rarity

Determine the overall rarity by multiplying all trait rarities. So, based on the example above, the overall NFT rarity would be (5% × 15% × 25%) = 18.75%.

You may have received an NFT mint in a generative collectible drop and are curious to see how rare it is.

Let’s say you minted a Chimpers #2565 collectible and would like to see how rare it is. This is how you can check:

  1. To go Rarity.tools. hover over all collections, then use the search field to find the chimpanzees Project.

  2. You can search for your Chimpers using the ID, Listing Type (Buy Now or Auction), Price (Min to Max ETH)Y Rarity ranks (minimum to maximum rank numbers) in the left sidebar of the resulting data pane.

  3. If you want to know what your character is made of in this hypothetical scenario, enter 2565 in the ID search area and click Search. A pop-up window will then appear, similar to the following.

  4. As shown in the picture above, Chimpanzees 2565 has a rarity range of #18. Of the 5,555 Chimpers, the site currently ranks this NFT as the 18th rarest in its series. With additional data, expect these numbers to change.
  5. You can see how NFT’s Rarity Score, now +2208 for Chimpers #2565, it was calculated in the image above. Rarity.tools also displays, via OpenSea, the highest minimum prices available during a specific period for a given NFT trait.

There are other tools besides Rarity.tools that you can use to calculate the rarity of NFTs. Each of these rarity tools has its method for calculating the rarity score of an NFT.

1. open sea

Open sea is a great tool for determining the rarity of your NFTs based on the number of copies in circulation. It’s also easy to use; type in the name or ID of an NFT and it will return how many copies exist, how much they sell for, what percentage of all transactions they represent, etc.

All of this information helps you better understand if you should buy a certain item at its current price, if you should wait until it goes up, or if it would be better to sell some items before they drop in value.

2. Sniper Trait

With features like massive bidding, advanced auto snipers, and instant rankings, sniper it is openly aimed at “expert traders”. NFT flippers scramble for the best deals, immediately relisting at a higher price in hopes of a quick profit after Trait Sniper has scanned a collection and displayed the pieces in rank order.

The free and premium versions of Trait Sniper offer different levels of monitoring access. For example, purchasing an Alpha Sniper pass gives you access to instant notice of newly revealed NFT collections and their rarity scores, compared to waiting an hour for free users. Trait Sniper is only worth using if you’re willing to pay, among other reasons.

3. Frost tools

icy.tools is a service with several great analytics tools released in the midst of the booming NFT industry. You can easily find interesting projects on the platform and monitor 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 somewhat low monthly fee. NFT maximalists prefer the company because it has a voice that aligns highly with the values ​​of the NFT community.

4. Rarity Sniffer

Similar to Traitsniper, RaritySniffer offers the latest rankings of new NFT projects based on their rarity. Also, the platform only shows tracked projects for free users and provides information about the latest NFT collections.

Users should subscribe to the Discord channel for more analysis on potentially rare NFTs. This provides unique access to the rarity status of newly minted NFTs that have been scented before becoming available to the general public.

Why Rarity Matters for NFTs

Rarity is an important factor in determining the value of any NFT. NFT’s rarity tools help ensure you get the most accurate rarity estimate possible. Also, they make it easier to get the best price on any given NFT if it turns out to be lower in rarity than you originally believed.

So if you like to collect rare items or want to make sure your NFTs are the best value before you put them up for sale, using one of these tools is something you should consider doing. They will take the guesswork out of finding out how rare NFTs are so you can buy or sell digital assets with confidence.