Understanding what factors contribute to an NFT's rarity is not only important for people
who want to purchase NFTs on secondary NFT marketplaces, it's also critical for anyone who
wants to create their own generative art NFT collection. If you're creating a generative NFT
collection, then you need to know more than just how to determine an individual NFT's
rarity. You should understand the myriad of factors that go into an NFT collection's rarity
chart. Listed below are some of the different elements to consider when creating an
excellent rarity chart for an NFT collection:
- Trait categories. Dividing traits into distinct categories helps organize all a
project's unique traits. For example, suppose you have four trait categories in your
collection including Mouth, Background, Facial Expression, and Headwear. Within each
category, there would be a certain number of specific traits. For example, perhaps there
are 7 different types of Backgrounds—and they vary in how frequently they appear in the
collection. Rarity Sniper recommends that to make your project visually appealing you
should have a minimum of 7 trait categories.
- Unique traits. These are the specific traits that fill out each trait category. Using
the example above, if we take the trait category Headwear and fill it with 7 unique
traits, those traits might consist of a top hat, baseball cap, beanie, fedora, sombrero,
cowboy hat, and no headwear. Perhaps the “no headwear” trait appears only 200 times in a
10,000-piece collection, which would make it a rare trait and more valuable than a trait
that appears 1,000 times in the collection. It is recommended that you have at least 150
unique traits in your NFT collection
- Rare traits. These are the traits that occur in less than 1 percent of an NFT
collection's total quantity. In the Bored Ape Yacht Collection, for example, the Dagger
Mouth trait appears only 49 times out of 10,000 Apes, making its rarity rank .49%.
Ultra-rare traits create scarcity within NFT collections and add excitement for
- Legendary traits. One-of-one legendary traits are even rarer than rare traits. One of
the best examples of legendary traits comes from the popular Cool Cats NFT collection,
which contains several Cool Cats that are hand-drawn and do not have any
computer-generated traits at all. Since the pieces are extremely rare in the collection,
they are ranked higher in rarity and more valuable. According to Rarity Sniper, an NFT
project should have no more than ten Legendary traits.
Another thing to think about when creating a generative NFT collection is what type of media
you plan to use. Deciding whether you're going to use animation, images, video, or audio with
your NFT project is critical.
Rarity Sniper recommends that using a mix of media is ideal for a successful generative art NFT
project. For example, some NFT collections use static images for common traits and rare and legendary
traits are animated. One effect this has is making the rarer NFTs more distinguishable.
The last thing to keep in mind when creating your rarity strategy for an NFT collection is to
avoid the use of low-impact visual traits. When traits don't have a significant visual impact,
such as a piece of jewelry that is too small to see, your collection can be less visually appealing
to NFT collectors.
Fortunately, not all the work has to be done alone. By collaborating with artists and influencers
you can design traits that are appealing and attract collectors and investors to your project.