Discover rarity tools and what it’s used for

Discover rarity tools and what it’s used for

Claudia Roca

Feb 22, 2023

Feb 22, 2023

Feb 22, 2023

Discover rarity tools and what it’s used for
Discover rarity tools and what it’s used for
Discover rarity tools and what it’s used for

Some time ago everyone wanted to have a NFT. Celebrities, companies, singers, actors, public figures, and influencers, all jumped on the NFT craze at once. 

Who could blame them? It's an interesting market that can be used for many different activities. But it's just that between so many NFT collections to choose from, it's a bit complicated.

Imagine if everyone came to offer their NFTs because it's the new boom, but you don't know which one is more expensive or if that collection will be the next boom. One mistake and you could end up losing hundreds of dollars.

This is when Rarity Tools comes in as a tool to help you get a good understanding of NFTs. Remember the program "The Pawn Shop"? Something similar, but brought to the new era of Web3, NFTs and blockchain.

What is Rarity Tools?

It’s the website that offers the service of quoting and identifying the rarity of the many NFTs collections on the market. This quotation is not done in an indifferent way, it’s done based on the rarity of that digital product.

Let's look at a couple of simple examples. Bored Ape Yacht Club was a collection that caught the attention of hundreds of celebrities, such as Eminem, Tom Bardy, Madonna, and Justin Bieber, among others, just as famous and important. 

They decided to acquire different pieces of these NFTs perhaps because they had a consultant behind them. Be that as it may, they were in time to jump on this train to buy the Bored Ape Yacht Club collectibles in time.

You may have fallen a little behind, but if you still want to buy a NFT from this collection, you can consult a tool like Rarity Tools to find out the rarity, and therefore the value, of the piece you have selected. 

Why Rarity Tools?

It’s a digital tool that arises as a necessity in the face of an information problem. Just as in "The Pawnshop" they used to buy and sell historical items after appraising their price, Rarity Tools helps you to know the price of the different NFTs, by collection. 

We can say that it’s an updated version of this program, which came out and was so successful a few years ago. But why was a tool like Rarity Tools a necessity from one moment to another? 

Surely you remember that in that program many people carried their objects without knowing their real value, either to pawn or sell. However, after a few seasons, they started showing people who were trying to buy items in the store.

They worked in the same way as Rarity Tools but in a more limited way. While those could only know the price of the objects in your store, Rarity Tools, being a digital tool takes it much further.

It offers information on almost all the NFT collections on the market. This makes it easier for all users on this platform to find a piece, regardless of the collection to which it belongs.

Why should you know the rarity of NFTs?

All objects in the world, both digital and physical, have a value. Sure, there are objects that have little or no value, while there are others that, because of their rarity, eccentricity or because they are unique, are priceless.

Knowing the rarity of an NFT is crucial in determining its value, since yes, there are several aspects that increase or decrease the final value of an NFT, such as:

  • Collection.

  • Token.

  • Capitalization.

  • Utility.

  • Who currently owns such NFTs.

However, within a collection there can be up to 100,000 different NFTs, but clearly not all of them are going to have the same value. Simply put, the rarer the NFT, the more expensive it can be. 

This is one of the many factors that can add to the influence of its final price. Also, if you know its rarity, you can know how much is the maximum limit you can pay for it, so you will avoid losing money.

How does the value affect the usability of the NFT?

The usability of the NFT, which varies depending on the alliances made by the collection, also depends on the rarity. Let's say that the rarer it is, the more functions, benefits and VIP access it can offer you. 

Let's go with one more example, using once again the Bored Ape Yacht Club collection.

Let's suppose that there are 1,000 new NFTs from this collection that they’ve made in collaboration with Real Madrid Football Club. Besides the fact that they will be on sale for a limited time, they are classified with 500 common, 250 rare, 200 epic and only 50 of them legendary.

Imagine that these NFT will give you access to see all the Real Madrid matches of the season in their stadium. Depending on the rarity you will have more or less benefit, being the common ones the ones that give you access to the stadium, while the legendary ones would give you access to the dressing rooms with the players.

This is how the rarity of an NFT affects its usability. The higher the rarity, the more useful it will be. You can consider this depending on the alliance that the NFT collection has, since usability is another factor that increases or decreases its rarity.

How does Rarity Tools work?

This digital tool, like many of those focused on solving Web3 problems, is quite intuitive to use: each project has its own classification, since the rarity of each NFT collection can be measured differently.

That is to say, the rarity of the items included in Bored Ape Yacht Club will not be the same as that of Cryptopunks. Mostly because each collection has its own way of setting the rarity of its NFTs. 

So if you apply this to each collection, it’s understandable that each of them has its own category in Rarity Tools. In addition, it gives you the advantage of easily locating yourself in a collection when using the platform.

Do you want to know the rarity of the NFT?

Knowing the rarity of an NFT with Rarity Tools is quite simple. Just have the NFT code, for example Cyberpunk #2044 and go to the top bar to click on "All Collections".

Now you will find the name of the collection, in this case, Cyberpunk and click on it. Enter the Token ID of your NFT. If you don't know how to get it, you can look it up in OPEN Sea or in any wallet where you have it.

Just click on "Lookup" and a window will appear with all the characteristics and data of the NFT. You will be able to see the rarity number, according to, in this case, the hair, face, eyes, attributes included, among others. 

Remember that these aspects are exclusive to the Cyberpunk collection, and that each collection has its own characteristics that determine the rarity. 

What if you want to buy a NFT?

Rarity Tools can also help you in the purchase of an NFT, whether you want to classify it by rarity level or price. Just go to the "All Collections" section, choose the NFT collection you are interested in and you will be able to place different options.

Whether you want it by rarity quantity or price, you can check the boxes and enter the respective quantities. The next thing you will see is a list of the NFTs in that collection that fall within the ranges you gave for the different characteristics.

Discover collections

You can also use Rarity Tools to discover new NFT projects. Researching and keeping up with the latest in this booming new trend can be difficult, but this platform is always including new collections.

In addition to attaching new NFTs to their platform to gauge their rarity, price and other aspects, you can find detailed information about each project. Based on that, you can choose whether or not to buy certain collections that catch your attention.

7 Tips for buying an NFT

Entering a new world and/or market is always complicated, but not impossible. Also, if it's a new and developing technology, you may want to pay attention to it because it may be the next Internet boom. 

However, you may feel a bit overwhelmed with these new technologies. That's why when shopping for NFTs you may want to follow these simple, but powerful tips.

  • Understand the NFT you are buying.

  • Learn about the project before you buy.

  • Define what will be your profile as an investor.

  • Follow the cryptocurrency market.

  • Research about blockchain trends.

  • Differentiate between NFT and cryptocurrency.

  • Study the liquidity of the asset.

buying an NFT

Remember, Rarity Tools is a platform that you can use to buy NFTs safely, quickly and, in addition, you can learn about the project to know which one has a better projection for the coming years. 

5 Reasons to invest in NFTs

There are many people who wonder what are the advantages or reasons to invest in NFTs. Since it’s a new technology, it’s possible that doubts may arise about its operation, benefits or advantages. 

That’s why, in order for you to be informed of the different reasons, we’ll summarize them in 5 important points:

1. They are all unique

All the NFTs you find in a platform like Rarity Tools are unique. That is to say, you will not find another one like it, and you cannot exchange it for another one of equal value. 

In addition, as each NFT has a unique owner, its value only increases, so it’s important to consider this other aspect. Also remember that there are limited collections of NFTs, something that can influence their exclusivity even more.

2. You can collect different NFTs

Do you remember the cards you used to collect in your childhood? Pokémon, Digimon, Dragon Ball, something similar happens with NFTs, as you can have as many of them as you want. This has opened a market for hundreds of collectors who don’t hesitate to acquire rare NFT pieces.

You too can join this new market by collecting NFTs that will also go up in price over time. Your collection will always end up increasing in value. The best part is that when you buy these collectibles you don't go through a third party, you buy them from the creators themselves.

3. There is variety to choose from

One of the best advantages when looking for collectible NFTs is that there is a lot to choose from. Yes, there are trends that seem to break the market, such as Bored Ape Yacht Club, but this doesn’t mean that there are no other collections that might interest you.

There are many artists willing to create NFT, as well as brands and companies, so you just have to find one that fits what you are looking for or what you would like to collect.

4. Collecting them is safe

Being a new technology that involves money, people always wonder about the security involved. The truth is that NFTs, being hosted on the web 3 blockchain, offer a wide range of security to their users.

Thanks to this implemented technology, piracy or copying remains in the background and wit isn’t a real threat to consumers, making collectible NFTs safe for everyone.

5. They offer benefits

Some NFTs have the power of offering benefits to those who own them. There have already been cases of rock bands, singers, stores or clothing brands offering NFTs to their users in exchange for certain benefits.

Musicians offer access to their concerts through NFTs, for example. 

Clothing brands or companies offer other advantages, such as early access to sales in physical stores or in venues that will open in a metaverse with which they have reached previous agreements.

invest in NFT

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