With thousands of non-fungible tokens (NFTs) minted each day, trying to find rare coins can be a challenge for NFT collectors. However, as the industry continues to advance, the hassle of finding rare NFTs may soon become a thing of the past.
In a tweet, NFT marketplace OpenSea announced the implementation of OpenRarity, a protocol that provides verifiable rare accounts for NFTs within its platform. The protocol uses a transparent mathematical approach to calculate rarity.
OpenSea said that rare NFTs will be awarded lower numbers like 1 or 2, while NFTs that have similar attributes to many other NFTs will have higher numbers. With this, the market has highlighted that buyers will be able to view a reliable “rare rating” when considering an NFT purchase.
The feature will not be automatically applied to all NFT pools. According to the NFT Market, creators will still be in control of whether or not they want to choose to implement the OpenRarity feature on their pools.
The OpenRarity Project was a collaborative effort between various NFT community entities, including Curio, icy.tools, OpenSea, and Proof. The goal is to standardize scarcity methodology and provide consistent rarity assessments across all NFT platforms.
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The NFT marketplace has also recently launched an initiative that allows creators to create their own NFT pages that they can customize with images, videos, and featured items. With this, creators can share information about the NFT drop, such as the tool’s timeline and gallery. Apart from that, creators can also add a countdown clock and let collectors receive email alerts reminding them of the mint.
Meanwhile, a report published by blockchain analysis firm Chainalysis stated that NFTs are the largest driver of crypto adoption in the Central and South Asia and Oceania (CSAO) region. According to the report, 58% of web traffic to crypto services is NFT related.