Description
OpenRarity is a collaborative project aimed at standardizing the calculation of NFT rarity within the web3 and blockchain ecosystem. The initiative introduces a transparent, consistent, and mathematically sound method for assessing NFT rarity, focusing on reproducibility and verifiability. Developed by a coalition including Curio, icy.tools, OpenSea, and PROOF, OpenRarity proposes a uniform framework to ensure fairness and openness across NFT platforms. This is in response to the inconsistency in rarity valuation across different platforms, which affects the perception of value in the NFT marketplace. OpenRarity's approach facilitates more accurate comparison of NFT collections and contributes to increased trust and reliability in NFT valuations. As an open-source project supported by the NFT community, it aims to demystify rarity calculations and make them accessible and transparent to all stakeholders in the ecosystem, reinforcing the significance of rarity as a principal factor in determining the value of NFTs.
OpenRarity is a collaborative project aimed at standardizing the calculation of NFT rarity within the web3 and blockchain ecosystem. The initiative introduces a transparent, consistent, and mathematically sound method for assessing NFT rarity, focusing on reproducibility and verifiability. Developed by a coalition including Curio, icy.tools, OpenSea, and PROOF, OpenRarity proposes a uniform framework to ensure fairness and openness across NFT platforms. This is in response to the inconsistency in rarity valuation across different platforms, which affects the perception of value in the NFT marketplace. OpenRarity's approach facilitates more accurate comparison of NFT collections and contributes to increased trust and reliability in NFT valuations. As an open-source project supported by the NFT community, it aims to demystify rarity calculations and make them accessible and transparent to all stakeholders in the ecosystem, reinforcing the significance of rarity as a principal factor in determining the value of NFTs.
