Read More: The Ultimate List Of Free NFT Wallets For 2023: Which One Is The Best? Ho, do you know how rare it is? How can you calculate the rarity level? The following section will tell us! Now, imagine you wish to buy or sell an NFT asset. For example, you can make a smart contract to let the NFT owner sell it after a while to add to the rarity of the NFT. Using Smart Contracts: Smart contracts can be used to make rules and conditions for issuing and transferring NFT assets.Designing Different Rarity Levels: One NFT collection can have different rarity levels when each NFT has specific and unique features.Adding Unique Features: For example, you can create an NFT collection of digital pets and add unique features to each one to make them more rare.Limiting Editions: Setting a limited number of editions for the NFT, e.g., only ten copies, makes each copy more rare and valuable. NFT owners/ collectors/ creators can use various methods to add rarity to an NFT, including the following. So, the question is how we can increase the rarity of our NFT assets to enjoy the benefits it brings. In addition, NFT rarity adds to the overall growth and sustainability of the NFT market by incentivising creators and collectors to partake in the market and setting a standard for pricing NFT assets. NFT rarity also helps creators and artists boost the value and demand for their digital artwork or collectables by limiting the number of editions or adding special features to each NFT. Rarity shows the scarcity of an NFT in a collection, and the more rare an NFT, the higher its price and potential for resale.Īlso, NFT rarity lets collectors and investors bring diversity to their portfolios and make more money buying and selling rare and valuable NFTs. NFT rarity is important because it is an essential factor in establishing the value and desirability of an NFT asset. Read More: The Best Cheap NFT Project That Will Explode In 2023 Since NFTs are categorised like this, collectors can search for specific NFTs with unique features with higher levels of rare and price.Īlso, NFT marketplaces devise tools and metrics to identify rare and valuable NFTs by providing rarity scores or rankings.Īs you probably know, NFTs are Non-Fungible Tokens, i.e., each NFT is one-of-a-kind, and no two NFTs are the same or have the same value. For example, one NFT collection can have various levels of rarity based on the features of the works of art (i.e., their colour, shape, or characteristics).
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