What Is Rarity Sniffer and how to use it? - CoinNav.io

The thrill of minting NFTs from a fresh collection is undeniable. Each new NFT arrives with its own set of unique traits, exuding an aura of allure. However, amidst this excitement, a question arises: how can one gauge the rarity of their acquired NFT? This is where tools like Rarity Examiner come into play, providing you with insights into your NFT's placement within the collection's hierarchy.

This information proves invaluable when it comes to establishing a fitting valuation for your NFT. Equally significant, it aids in determining an appropriate budget for potential investments in other NFTs within the same collection. With this in mind, let's delve into the intricacies of Rarity Examiner (RE).

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What Is Rarity Sniffer?

Rarity Insight stands as a software solution engineered to assess and categorize NFTs according to their rarity. Operating across a spectrum of NFT collections, this tool empowers users with the ability to grasp the level of rarity inherent in a specific NFT within a given collection.

Notably, Rarity Insight streamlines this process, sparing users the intricacies of manual calculation. While platforms like OpenSea provide detailed breakdowns of an NFT's traits, engaging in manual trait-by-trait comparison can be a time-intensive endeavor, prone to inaccuracies. Rarity Insight, in contrast, swiftly retrieves and presents the rarity ranking of an NFT within mere seconds.

This accelerated insight equips users to make informed decisions regarding the sale or acquisition of NFTs within a collection. Generally, NFTs ranking lower on the rarity scale tend to command superior prices, with a lower number signifying heightened rarity. Conversely, NFTs with higher-ranking numbers typically align more closely with the collection's floor price. Essentially, their rarity is not the primary driving factor behind their market appeal.

 

How Does Rarity Sniffer Work?

Rarity Sniffer operates in a user-friendly manner, making the process comprehensible for all. To begin, navigate to your desired NFT marketplace and locate the collection of your choice. For example, consider the Sui Punks collection on OpenSea. Once within the collection, you should locate the NFT's asset ID, a distinct numerical identifier assigned to each NFT. It's important to note that the asset ID is not indicative of its rarity ranking; rather, it signifies its position within the collection's sequence.

For instance, within the Sui Punks collection, a total of 2992 NFTs exist. The very first minted NFT holds the asset ID #1, and this numbering continues consecutively. The visual representation below illustrates the Sui Punks alongside their current floor prices on OpenSea.

Upon identifying your specific asset, focus on finding its unique asset ID. As depicted in the above image, the NFT on the left bears the asset ID #2381. At this point, you can proceed to the RS website and search for the Sui Punks collection by entering its name into the search bar. The subsequent image offers a visual depiction.

Click on the Sui Punks collection, indicated by the red arrow. This action will direct you to the dedicated page for the Sui Punks collection, as shown below.

 

How to Find the Rarity Ranking?

 

Is Rarity Sniffer Accurate?

Rarity Sniffer has recently undergone an enhancement, adopting the novel RSNet algorithm. This algorithm amalgamates the original Rarity Sniffer framework with components from the OpenRarity algorithm.

Presently, the exact composition of this new RSNet algorithm remains undisclosed. However, a reference is provided to an OpenRarity page, which explicates the mechanics of its algorithm, complete with exemplars from diverse collections such as Bored Ape Yacht Club and Pudgy Penguins.

While this progression appears promising, regrettably, not all is devoid of challenges. A collection I closely monitor, the Sui Punks, witnessed a substantial shift in its ranking post-upgrade. This renders Sui Punk holders unable to avail the services of Rarity Sniffer, given the emergence of a unique ranking system not adopted by other platforms. The extent of this new algorithm's influence on rankings across various collections remains undisclosed.

Below, you'll find the Rarity Sniffer depiction of the Bored Ape Yacht Club collection.

 

Is Rarity Examiner Trustworthy?

Rarity Examiner stands as a legitimate platform, utilizing a precise formula to calculate an NFT's position within a collection's hierarchy. This computation is based on the metadata associated with the NFT, which encompasses vital details such as:

• NFT's name and unique identifier
•  Comprehensive description
•  Inherent traits exhibited by the NFT
• Direct link to the primary host image

Leveraging this metadata, Rarity Examiner accurately determines an NFT's rank within the collection. Comparative analysis can be conducted across diverse platforms, even though these platforms aren't bound by universal standards. Despite the variance in their methodologies, the resultant rankings often exhibit notable similarity. Nonetheless, it's worth noting that occasional discrepancies in rankings have been observed.

Presently, Rarity Examiner signifies a reliable ranking platform, but it's prudent to conduct your own exploration and identify the platform that aligns best with your preferences.