Monday, September 26, 2022
HomeOpenseaOpenSea implements a new protocol that ranks NFT rarity

OpenSea implements a new protocol that ranks NFT rarity

thousands of Non-Fungible Token (NFT) With daily minting, trying to find rare pieces can be a challenge for NFT collectors. However, as the industry continues to advance, the hassle of finding his rare NFTs may soon be a thing of the past.

In a tweet, the NFT marketplace OpenSea announced An implementation of OpenRarity, a protocol that provides verifiable rarity calculations for NFTs within the platform. This protocol uses a transparent mathematical approach to calculate rarity.

According to OpenSea, rare NFTs are given lower numbers such as 1 or 2, while NFTs with attributes similar to many other NFTs are given higher numbers. With this, the marketplace emphasized that buyers can view a reliable “rarity ranking” when considering buying her NFT.

This feature is not automatically applied to all NFT collections. According to the NFT Marketplace, creators still have control over whether they apply OpenRarity features to their collections.

The OpenRarity project was a collaboration between various NFT community entities such as Curio, icy.tools, OpenSea and Proof. The goal is to standardize the rarity methodology and provide consistent rarity rankings across all NFT platforms.

Related: Non-Fungible Tokens: How to Get Started with NFTs

The NFT Marketplace has also recently launched an initiative Creators can create their own NFT drop pages that can be customized with images, videos and highlights. This allows creators to share information about their NFT drops, including minting schedules and galleries. Apart from these, creators can also add a countdown clock so collectors can receive email alerts to remind them of their mints.

Meanwhile, a report published by blockchain analytics firm Chainalysis states that NFTs Biggest driver of crypto adoption Central, South Asia and Oceania (CSAO) region. According to the report, 58% of web traffic to crypto services is NFT related.