Simple Passive Income Simple Passive Income
Part of the buzz flying around in the NFT ecosystem is how OpenSea Ranks NFT Rarity.
Recently, different entities in the NFT ecosystem, including Proof, OpenSea, icy.tools, and Curio, collaborated to form the OpenRarity project.
The truth is that people mint thousands of NFts every day. So, it has become a serious challenge to find rare NFTs, especially for collectors. However, as the industry progresses, the troubles of locating rare Non-Fungible Tokens (NFTs) will fizzle out.
OpenSea NFT Marketplace announced the OpenRarity implementation on Twitter. OpenRarity is a protocol that will give NFT rarity calculations within its platform. In addition, the protocol will allow collectors to verify its calculations. It calculates NFT rarities using a transparent math approach.
According to OpenSea, they will award lower numbers like 1 or 2 to rare NFTs. However, the NFTs with similar attributes will get higher numbers. OpenSea believes that by highlighting these rare NFTs, collectors will see a trusted ranking of rare NFTs before buying.
Also, this Rarity feature will not automatically apply to every NFT collection. OpenSea clearly states that NFT creators will still be responsible for choosing to add the feature to their NFT collections or not.
The Goal of OpenSea NFT Rarity Ranking
The project (OpenRarity) was a joint effort of various members of the NFT ecosystem. Ultimately, the goal of this collaboration was to make the method of ranking rarity standard.
In addition, the protocol will make it possible to constantly rank rare NFTs across various platforms.Furthermore, OpenSea launched an initiative that allows creators to mint their NFT customizable drop pages. Creators can customize their drop pages with videos, highlights, and images.
In addition, this feature allows NFT creators to share their NFT drop information, for example, their gallery and minting schedule.Aside from that, the feature allows creators to include a countdown clock that permits collectors to get reminder emails of the mint.
In conclusion, the OpenRarity protocol is most needed in this period as NFTs are becoming more popular.According to a blockchain analysis from Chainalysis, NFTs are heavily driving cryptocurrency adoption in Southern Asia, Oceania (CSAO) region, and Central Asia.
The analysis showed that more than 58% of services related to cryptocurrency is NFT based.
To get more updates on how to make money passively in the crypto ecosystem, subscribe to our newsletter.
