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    How to check the rarity of your NFT

    When you first start bridging NFTs, it can feel scary to send over something really rare and valuable. We recommend beginners to experiment with common NFTs first — but how do you know if your collectible is common or rare?

    Why calculate rarity?

    When designing the XP.network NFT bridge, we made sure that it’s as secure as possible, putting in place several layers of protection. You can be sure that an NFT you send, say, from Ethereum to Elrond will arrive safely in your Elrond wallet.

    Still, knowing rationally that it’s safe isn’t the same as feeling secure when you’re bridging for the first time. So we recommend that you start by picking a common asset — that is, one that doesn’t have a rank or ‘rare’, ‘epic’, ‘legendary’, or something similar within its NFT collection.

    Here many will ask: how do I know? When you have several NFTs from the same collection, you can sometimes visually deduce that one of them is uncommon because it looks different. But with a single NFT, it’s hard to say. In fact, most NFT users have no idea how rare their NFTs are — they simply buy what looks good or what fits in their budget.

    Even worse: sometimes people list a rare NFT on a marketplace for the floor price of a common asset — without knowing that it’s actually worth several times more!

    If you are serious about bridging and building a portfolio, you should master some online rarity tools. They will help you evaluate NFTs before buying or listing them on marketplaces.

    How to find out the ID of an NFT

    The first thing you’ll need to do is find out your NFT’s ID. With some wallets and blockchains, it’s easy: for example, the Phantom wallet for Solana has a special NFT section, where you’ll find all your collectibles divided by collection and with the option to view each asset’s ID, traits, and sometimes even the rarity rank. You can also go directly to Solscan to view the detailed info.

    On the other end of the usability scale is the MetaMask browser extension, which doesn’t have an NFT section at all (yet). If you only bought a collectible recently, you’ll find the transaction in the Activity tab. Then you can copy the tx ID and view the transaction on the blockchain explorer (be it for Ethereum, Avalanche, BSC, etc.).

    The explorer will also show you the ID of the NFT. You can also copy its contract address and add it as a custom token to MetaMask.

    Note that MetaMask Mobile does have an NFT tab, though you may have to add some collectibles manually.

    The easiest way is to go to a relevant marketplace (OpenSea, NFTrade etc.) and connect your wallet. You should see all the NFTs you hold, with their IDs, in the My NFTs section.

    Another option for MetaMask users is to search for their wallet address on the relevant blockchain explorer and check the list of the ERC-721 or ERC-1155 tokens — that is, NFTs. You’ll find all their IDs — but you won’t see what they look like.

    Ok, let’s say you’ve got the ID of the NFT you want to check for rarity. Congrats — the hard part is over! Now you need to plug that ID into a rarity checker.

    The 7 best online NFT rarity calculators

    • Rarity Sniper: supports over 1,400 collections on 17 blockchains, though the vast majority is on Ethereum (over 1200), with quite a few on Solana and Polygon, less than 20 on BSC, and just a few on Cronos, Arbitrum, Elrond, and others.
    • Rarity.tools: available for Ethereum only, with around 1,000 collections. Find your collection using the search field, then paste the ID.
    • NFT Stats Rarity Explorer: around 150 popular collections on Ethereum.
    • Rarity Sniffer: another tool for Ethereum-based collections.
    • HowRare.is: a checker tool for Solana NFTs, with almost 700 collections supported.
    • HowRare.ai: a rarity checker tool for the Terra ecosystem (it’s not present on the XP.network bridge yet, but we are looking to add it). Around 35 collections so far.
    • PolyRare: a tool for NFTs on Polygon.

    Apart from these online tools, there are some that are Discord-based — for example, SolRarity. They use special bots, where you enter a command (such as !(collectionname) id) and the bot spits out the rarity rank.

    How to calculate rarity manually

    What if no rarity checker supports the collection that your NFT belongs to? Well, you’ll have to estimate the rarity based on its traits. You’ll need a trait distribution list (you’ll probably find it on the project’s Discord somewhere) and then make an estimate.

    For example, let’s say your NFT has 3 traits, where trait A is found in 50% of all the items in the collection, trait B is found in 14%, and trait C in just 8%. The average rarity would be (50+14+8)/3=72/3=24%. Thus, your NFT falls into the 24% rarest assets in the collection — not bad!

    Rarity checker tools make our life much easier — but they are mostly available for more expensive and well-known collections. Plus, when a project is just launched (at mint), it’s usually not listed on any rarity calculator. So when minting, you may have to ask the team directly (usually on Discord) if your item is rare or not.

    Hopefully, now you have a better idea of how rarity works. Follow XP.network on Telegram and Twitter for more analysis and news from the world of NFTs — and, of course, for updates on the next blockchain, we add to the bridge.

    Find more: Nft rarity check – Krypto-NFTs

    Source: 🔗

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