OpenSea implements NFT rarity tracking tool OpenRarity


OpenSea has included the OpenRarity scarcity tracking tool, which allows buyers to learn about the rarity of a particular NFT. Popular NFT projects Pudgy Penguins, Cool Cats and Moonbirds are among the first projects that have OpenRarity on the commercial page. These NFT collections contain from 8,888 to 10,000 algorithmically generated images.

Some elements of these NFTs are found in less than 1% of the collection, for example, the pillowcase on the head of Pudgy Penguins or the robot face of Cool Cats.

OpenSea using OpenRarity removes the opacity regarding how rare certain details are in NFT, allowing users to stay in OpenSea and opt out of using third-party NFT scarcity tracking tools.

The rarity of the NFT is now one of the first pieces of information a potential buyer sees when viewing the NFT — even before the purchase history of the NFT or who it currently belongs to.

To be sure, OpenSea demonstrated some NFT rarity characteristics before enabling OpenRarity. For example, in the case of Moonbirds No. 520, users can see that 3% of the owls in the 10,000 NFT collection also wear Abraham Lincoln-style hats.

But it is thanks to OpenRarity that users now know that Moonbirds No. 520 is the 7073rd most rare owl in the collection.

In addition to adding rarity data, OpenSea has also made additional changes to its platform, for example, improved the way it conducts listing and NFT drops. After the debate about zero royalties to NFT authors on Sudoeswap, the platform added a more prominent description of what remuneration the author will receive. Taking care of the environment, OpenSea promised to support only Proof-of-stake NFT on Ethereum after the merger.

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