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What constitutes a super rare NFT and how to find them?

So what constitutes a rare NFT, is a question asked by many digital collectible lovers. But since this is an underdeveloped subject to date, there’s no straight answer to it. However, most users associate a high price to it’s rarity but that’s not really the case. As you will often find some super rare NFT’s with minimal prices. But is price really a factor in what constitutes a rare NFT? Of course not, price is only a matter of efficient marketing gimmicks. Given all the right ingredients in place, the more efficient marketing the higher the price will go.

Beeple – Everydays: the First 5000 Days — $69.3m

The characteristics of a rare NFT is self explanatory. A NFT is rare if there exist very few duplicates of it or in other words it’s a unique NFT. The more that number goes down, the more rare that NFT will be considered. For example, a single NFT image featuring the knock out moment of Conor McGregor by Khabib Nurmagomedov or Diego Maradona vs England FIFA world-cup goal would make a spicy super rare NFT.

Since NFT’s are more than just collectibles, as they carry real-world application empowered by it’s underlying contract. You would need more than just uniqueness for it to succeed in the long run. There are three key factors to consider when evaluating the intrinsic value of an NFT.

Rarity

This factor means how “hard-to-get” a specific NFT is. An examples of rarity would be first-of-its-kind artwork from a celebrated artist in the digital arts industry, or an NFT created by a famous celebrity. Another factor of rarity is the effect such an NFT would provide in, for example, a video game that let’s you use that NFT.

People are attracted to such NFTs because of their intrinsic value, where the owner of the NFT holds the blockchain proof of ownership. This gives a sense of distinction, authority and determines the premium value of an NFT. 

Solid examples of the unique effect in the crypto industry are the first CryptoKitties, Everydays – The First 5000 Days by Beeple and others (sold for $69.3m).

Utility

The price of NFT is positively influenced by the possibility of its actual use in the physical or digital world. Irreplaceable tokens can be more than just collectibles.

It is very common to see game objects clothed in this form – virtual land plots, avatars, weapons, and skills for games. At the same time, the more popular the project where the item will be used, the more valuable the tokens. For example, as the community of decentralized game’s players grows, more of them will be willing to pay top dollar for a unique card.

Examples of NFTs in question include soccer game tickets, land plots in Decentraland, collectible cards for card games (e.g., Geralt of Rivia for The Witcher Universe Gwent Card Game).

Tangibility

Some NFTs are tethered to real-world objects, which gives value in terms of tangibility backed by ownership immutability. In essence, anything can be backed by an NFT to solidify ownership rights. Although less common, there are NFTs tied to real-world objects that can be “touched.” In this case, the cryptographic token is a proof of ownership.

For example, having an NFT ticket to an exclusive event full of celebrities is considerably more valuable, both intrinsically and on a personal level, than owning an NFT tethered to a bottle cap.

How to find rare NFT’s?

All this NFT hype sounds really good and collecting different NFT’s seems to be very fancy but it’s a hard task to find rare NFT’s while navigate through thousands of collectibles. If you are doing that manually it would cost you hours for large collections of NFTs. Luckily, there are tools available to do the search for you and find the rare NFTs.

Thanks to Rarity.tools, you can find rare collections and sort out a particular NFT ranking on the rarity list. All you need to do is to find the ID number of each NFT and look it up on the rarity.tools and it will sort out the ranking based on its rarity.

You also have the possibility to find rarity based on a particular collection. The search results will provide a comprehensive overview of the attributes of that particular NFT.

Original link: Your go to Crypto place

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