What is NFT rarity, and how to calculate it?
NFT rarity is the uniqueness and scarcity of a nonfungible token, calculated using factors, such as distinguishing features and demand. An NFT’s rarity plays a role in its perceived cultural and artistic significance. For example, an nonfungible token (NFT) that is the only one of its kind and possesses significant cultural or historical value may be considered a rare and must-have artifact. But why is NFT rarity important? NFT rarity is important because the market worth and appeal of an NFT can be significantly influenced by the nonfungible token’s rarity , which can also influence its resale value. Moreover, NFT collectors frequently look for unusual and distinctive nonfungible Tokens to add to their collections. Nonetheless, it is crucial to remember that an NFT’s worth or relevance is not necessarily determined by its rarity alone. Other elements that may affect the value and appeal of nonfungible tokens to collectors include the caliber of the artwork, the reputation of the ar...