NFT Marketplace

OpenSea implements a new protocol that ranks NFT rarity

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cointelegraph.com

With thousands of nonfungible tokens (NFTs) getting minted every single day, trying to find rare pieces can be a challenge for NFT collectors.

However, as the industry continues to progress, the hassles in finding rare NFTs may soon become a thing of the past. In a tweet, NFT marketplace OpenSea announced the implementation of OpenRarity, a protocol that provides verifiable rarity calculations for NFTs within its platform.

The protocol uses a transparent mathematical approach to calculating rarity. OpenSea said that rare NFTs will be awarded lower numbers like 1 or 2, while NFTs that have attributes similar to many other NFTs will have higher numbers.

With this, the marketplace highlighted that buyers would be able to view a reliable “rarity ranking” when considering purchasing NFTs.

Read more on cointelegraph.com
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