NFT rarity is one of the most important factors that determine the value and attractiveness of non-fungible tokens (NFTs). The NFT market is dominated by PFP projects (such as 10k PFPs), which account for the majority of the NFT market share. However, there is no standard or consensus on how to measure and compare the rarity of different NFTs across various collections and categories.
That’s why we are excited to introduce GoRarity: an open-source NFT rarity model that aims to provide a universal and transparent way to evaluate and rank the rarity of any NFT. GoRarity is developed by NFTGo.io, a data intelligence platform that provides trading and analytics for the NFT market.
Principles
- GoRarity uses Jaccard distance algorithms and normalization, which are better at reflecting the relevance of an individual NFT to its original collection. You can find more details about how GoRarity works in our documentation.
- A mathematical model that does not rely on a subjective scoring system. It uses statistics and smart contracts to automatically generate rarity rankings. By checking the GoRarity ranking, you can prevent malicious hype presented through the subjectivity of project creators and ensure a decentralized NFT valuation.
- More true-to-data. It uses a process of “on-chain data — mathematical model — rating analysis” to eliminate the unreasonable rating gap caused by subjective impressions. We understand that users have their own aesthetic preferences, but in the Web3 space, we still need a scientific evaluation from the data aspect.
Use GoRarity on NFTGo
Calculating the collective difference of an NFT asset based on Jaccard distance helps users discover the collective difference of NFTs and actually quantifies the concept of “rarity” in a more fundamental way. You can now view the rarity rankings and rarity scores of all NFTs on NFTGo, and hopefully, GoRarity will help you make more informed decisions when trading NFTs.
- Rarity Score: A numerical value that represents the rarity of an NFT based on its attributes and traits. The higher the score, the rarer the NFT.
- Rarity Rank: A relative position that shows how an NFT compares to other NFTs in the same collection or category. The lower the rank, the rarer the NFT.
GoRarity is open source and free for anyone to use and contribute. You can access GoRarity through our API or our website. You can also check out our GitHub and join our Discord community to share your feedback and suggestions.
About NFTGo
NFTGo aims to become the world’s leading NFT data intelligence provider and benefits everyone involved in trading and utilizing NFTs, driven by data science, AI, and blockchain technology.
Our all-in-one NFT analytics and trading platform is unrivaled in the market, empowering users to discover, analyze, trade, and track NFT portfolios with ease, ultimately resulting in higher profitability. NFTGo offers a suite of powerful tools and features including real-time NFT market analytics, trading aggregator, developers API, rarity model, top mints, whale tracking, watchlist, Twitter extension, drops calendar, and more. Moreover, we provide institutional clients with a comprehensive repository of aggregated NFT data and intelligence, ensuring their readiness for the next market uptick. Currently, our platform serves over 2000 institutional customers, 1000 communities, and 2 million retail users worldwide.
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