More

    Top NFT Rarity Tools for 2023!

    Although the NFT market is passing through some rough patches at the moment, we can still find ways to make a profit out of these non-fungibles. Let’s talk about our top NFT rarity tools for the upcoming new year!

    To get the most bang for your buck, you must track the NFTs in any market. Sniping NFTs is the superior act of buying NFTs that are priced below their value due to the seller’s unawareness of their rarity.

    It is worth mentioning that back in the early days of Web3, determining the value and rarity of an NFT before buying it was extremely challenging. Today, however, we have many tools to aid us in navigating Web3! 

    So, let’s get into it!

    Before We Start: What defines an NFT’s rarity?

    NFT rarity comes down to a simple (Not really…) formula:

    Rarity Score for a Trait Value = 1 / ([Number of Items with that Trait Value] / [Total Number of Items in Collection])

    This calculation is far from simple… When you take into consideration the multiple factors and variables that determine the final score, it becomes kinda totally OVERWHELMING

    Different Methods of Calculating NFT Rarities:

    • Determine overall rarity by taking the average rarity of each trait expressed within an NFT.
    • Take into consideration the rarest trait only, and ignore the scarcity of all other traits.
    • Multiply the rarity values of all the traits shown within an NFT by each other.

    Finally, this is exactly where our top 3 NFT rarity tools come into play! If you wish to bulls-eye the best NFT to invest in, let’s jump right into the good stuff!

    #1 Rarity Sniper

    The next time you’re thinking about collecting an NFT, make sure to check its rarity using this rarity tool. By using Rarity Sniper, you can track these rarities to ensure you are finding the best NFT for your goals and budget. Furthermore, you also have the option to publicly share your NFT’s rarity with collectors. It’s a win-win scenario!

    Function:

    • Locate the rarest NFTs in a collection.
    • See upcoming drops.
    • View stats of popular listed NFT collections.
    • Ability to list your NFT projects.

    Website Interface:

    Go to their official website, and you can view all the services they offer!

    Rarity Sniper Interface

    How to use the rarity tool:

    Step 1:

    Click on the search bar, and go to any collection you wanna view. I am gonna demonstrate on CloneX!

    SC 1

    Step 2:

    As you can see in the screenshot below, NFT #3997 is ranked #103 in rarity. However, NFT #3393 RANKS #108.

    Rarity Sniper SC2

    Step 3:

    But, lo and behold, the NFT that is considered RARER (#3997) is selling for cheaper! So, the sane option is to buy #3997 for 70.3 ETH rather than #3393 for 90.8 ETH.

    Our Review 4.8/5

    We love this tool! It is easy to use, very straightforward, and free! Not to mention the moves this tool company is making by collaborating with some of the biggest marketplaces in the industry!

    Rarity tools SC 3

    #2 NFTinit

    NFTinit is one of our favorite NFT rarity tools! It is a browser-based rarity ranking calculator of Non Fungible Tokens (NFTs) depending on the properties of NFTs on the Ethereum Blockchain. Moreover, it works on OpenSea, the world’s #1 NFT marketplace, by using real-time page details data.

    Function:

    • Basically, this tool analyzes the NFT collections.
    • It creates standing and rarity rankings forehand while the users browse on the marketplace.
    • Shows rarity rankings on the thumbnails of the NFTs which saves tremendous amounts of time. 
    • The extension dashboard lists NFTs based on their views, favorites, visit counts, and rarity ranking.
    • Live profit calculator: Easily visualize the profitability of assets with a responsive calculator that foresees costs such as royalty, OpenSea service fee, and gas fee. (We’ll demonstrate in a bit don’t worry…)

    Website Interface:

    Go to their official website, and you can view all the services they offer! We’re gonna show you how to use their rarity chrome extension because it is SUPER easy to use!

    NFTinit NFT Rarity tool

    How to use the rarity tool:

    Step 1:

    Install the NFTinit chrome extension rarity tool. 

    Step 2:

    After the Chrome extension is added, go to OpenSea, and you will see the tool has now been added. Some info is also added on NFT Collections.

    Azuki with the NFT Tool Extension

    Step 3:

    Let’s explain what these numbers in the NFT tool extension represent.

      1. Rank: 1187 is the rank of this NFT out of 10,000 NFTS, so for this example, it’s 1187 /10000.
      2. Fast Buy: This feature is to buy it in seconds; you have to connect your wallet to NFTINIT’s main website first, if you found a good NFT you want to buy fast before anyone else uses this feature.
      3. Percentage (Bottom Right): This is the percentage of traits in that NFT. The less the % is, the better.  This will show the combination of these traits and how unique it is in %.
      4. Number (bottom Left): this number is the floor price of that NFT Collection.

    Step 4:

    Now imagine you want to invest in the AZUKI collection and buy one NFT. Let’s take these 3 NFTs highlighted as an example. These are the lowest NFTs listed on OpenSea.We have to choose between these 3, as you can see the best option is Azuki #4707 since it has a better rank and traits %. It’s better than the others and even cheaper!

    Step 5:

    Before we buy that NFT, we should see if we can make a profit selling it or for how much to list it. All you have to do is click on the NFT, and you will be redirected to the “BUY NOW” page where you can see traits and make offers.  Over there, the Chrome extension will show a profit calculator embedded in the page.

    Profit calculator with NFT Tool Extension

    Step 6:

    Here in the image above, we have their rarity calculator. It shows if you buy it for 12.75 ETH and sell it for 13.00, you will lose 901.80 USD which is a total lost cause! There are also collection royalty fees and OpenSea service fees and gas fees! This tool is editable; you can set the selling price to see which selling price suits you best if you want to flip it right away, and based on that you can make decisions.

    Our Review: 4.6/5

    We love this NFT rarity tool because it’s free for all the basic features you might use. And it’s always updated and very useful to check the rarity of the NFT collection before buying. You can also see your Minted NFT to see which rarity it is and how much to sell it for. You can always opt for a paid plan to unlock some neat extra features! (Bidding, live minting, etc…)

    #3 TraitSniper Rarity Tool

    Basically, the Trait Sniper NFT tool extension is one of the most popular and most effective NFT sniping tools on the market, helping NFT buyers grab sought-after newly minted or inaccurately priced NFTs for a bargain.

    Function:

    • First, it allows you to keep track of all collections’ floor prices with ease.
    • You have complete access to the ranking of all collections.
    • Also, it helps you to easily snipe rare listings right at the activity page.
    • Moreover, you can buy through customizable gas fees.
    • And you can share profit from flipping in a fast manner.

    Website Interface:

    Go to their official website, and you can view all the services they offer!

    Trait Sniper NFT Rarity Tool

    How to use the rarity tool:

    Step 1:

    Download the rarity tool extension here. It is super easy to operate!

    Step 2:

    Go to any collection on OpenSea; we went to the iconic World of Women NFTs!

    world of women with NFT Tool Extension

    And as you can see, the tool has now been added. Also, some info is added to the NFT collection.

    Step 3:

    Let’s explain what these numbers in this NFT tool extension represent.

      1. Rank: The rank of this NFT is out of 10,000 NFTS, so for this example, it’s  8450/10000.
      2. Floor Price: The lowest price you can pay for an NFT in this collection.
      3. Shopping cart symbol: This feature is only available to premium subscribers. Sorry… This allows you to buy many NFTs in 1 transaction, thus saving on gas fees.

    Step 4:

    Now imagine you want to invest in the WOW collection and buy one NFT. Let’s take these 4 NFTs highlighted as an example.

    • Do you see how each NFT is highlighted in a different color in the above picture? Well, this is an indicator of how rare or common it is with respect to the whole collection. For example purple is epic (Rarity in the Top 1%), Blue is Rare (Rarity in the Top 10%), and Grey is Common.
    • Next, we have to choose between these 4, as you can see they all cost the same price (50 Eth). Without a doubt, the best option is WoW #4127 since it has the highest rarity rank (Epic)!

    Extra Cool feature: we noticed while using this NFT tool extension was your ability to request a ranking for a certain unlisted collection! We requested they list the SmolJoes!

    TraitSniper Smol joes NFT Tool ExtensionS

    Our Review: 4.4/5

    Although this NFT tool extension gives us NFTinit vibes, it doesn’t provide all the features of the latter. It is fairly easy to use, but you need to subscribe to the premium one for the full hands-on experience.

    NFT Rarity Tools: Conclusion

    In conclusion, investing in NFTs is no easy task. You must be equipped with all the market knowledge and necessary tools to be able to withstand the heat of the market. Because it will get spicy! Oh, we do have our rarity calculator at Chainwitcher, but we opted out of tooting our own horn this time! Feel free to check it out here!

    Evidently, you must use the above tools to secure the hidden gems you might be sleeping on! And as always, stay tuned for all the hacks, tips, and tricks you need to successfully navigate these oftentimes murky waters…

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay in the Loop

    Stay in the loop with blockchain Witcher and get the lastest updates - Best Web Hosting

     

    Latest stories

    You might also like...