OpenSea has teamed up with PROOF, Curio, and icy.tools to introduce an NFT rarity assessment tool named OpenRarity.
OpenSea has partnered with Curio, icy.tools, and PROOF to create OpenRarity, which aims to set an open standard for assessing the rarity of NFTs. This innovative protocol not only delivers a traceable and mathematically solid method for determining rarity but is also completely open-source, meaning anyone can access and duplicate it. Currently, OpenRarity is in its beta phase and is anticipated to officially launch on OpenSea next week. through GitHub .
By tackling issues surrounding rarity rankings, OpenRarity aims to change how collectors perceive value, particularly since many existing systems have been created in isolation and lack a unified methodology.
In the world of NFTs, the terms 'rarity' and 'valuation' often get mixed up, though they have distinct meanings. OpenRarity asserts that while both concepts are crucial, they should not be conflated and should be assessed as separate entities.
Currently, rarity rankings are generated using proprietary algorithms that can vary significantly between different publishers, including marketplaces and analytical tools, creating an uneven playing field especially for creators on tight budgets who often incur costs for these assessments.
"There's no definitive source verifying how rarity is calculated in any given collection, which results in varied assessments and confusion regarding accuracy,\"
Understanding rarity is essential when making purchasing decisions, as it helps collectors navigate the structure of collections and new releases.
the team wrote on Twitter.
Consensus and transparency are essential in the Web3 era
The system should be straightforward for creators, users, and developers to comprehend.
The core principles of OpenRarity’s methodology include:
- It needs to be objective, rooted in mathematical principles, and open for public examination.
- Adjustments should be seamless as datasets evolve—taking into account new collections, correcting metadata errors, or changes in attributes.
- Consistency in rarity rankings across different publishers is crucial.
- OpenRarity aims to serve as a pivotal force in establishing standardized rarity evaluations, sparking deeper discussions about the elements that foster engagement within the NFT arena.
Top 8 NFT Generators: Effortlessly Craft a 10,000 NFT Collection Without Any Coding Skills. Pudgy Penguins , Cool Cats , and collections by PROOF are the first to opt-in.
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Search Search Agne is a dedicated journalist covering the latest developments in the realms of the metaverse, AI, and Web3 for Metaverse Post. Driven by a passion for storytelling, she has conducted numerous interviews with leading figures in these industries, always on the lookout for intriguing narratives. With a Bachelor's degree in literature, Agne has written extensively across diverse topics, including travel, art, and culture. She has also volunteered as an editor for an animal rights organization to raise awareness about welfare issues. Connect with her at