It’s exciting to mint NFTs from a new collection. Your new NFT comes with a couple of traits and looks cool. But, how do you know how rare your NFT is? Tools like Rarity Sniffer show you their ranking inside the collection.
This can be useful in setting a price for your NFT. On the other hand, it can also help you to determine how much you want to spend on another NFT in that collection. So, let’s have a look at the ins and outs of Rarity Sniffer (RS).
What Is Rarity Sniffer?
Rarity Sniffer is a software program that calculates and ranks NFTs based on their rarity. RS does this for a variety of NFT collections. This gives you the opportunity to see how rare a specific NFT is within a collection.
RSNet has successfully been deployed on the Ethereum Mainnet, we have applied a small sneak peek on RaritySniffer! Expect a lot of great updates to be made on our site, more information regarding these updates will be available soon.
— Rarity Sniffer (@Rarity_Sniffer) September 18, 2022
However, the program doesn’t show you how it got to the result. On the other hand, OpenSea, does show the various traits an NFT has. Now, for you to compare these traits, is time-consuming. You also may not be accurate in your calculations. So, Rarity Sniffer looks up and gives you the rarity ranking of an NFT within seconds.
You can make better decisions on selling or buying NFTs within a collection. NFTs, with a low number on the ranking list, tend to fetch better prices. The lower the number, the rarer an NFT is. On the other hand, NFTs with a high number, are, in general, closer to the floor price. In other words, their rarity is not their selling point.
Rarity Sniffer NFTs
Rarity Sniffer doesn’t offer any NFTs for sale or to mint. What they do offer is the rarity of individual NFTs within a collection. Currently, they list well over 10,000 collections adding new collections every day. So, once a collection reveals itself, they add it to the homepage. It takes this rarity ranking tool less than 5 seconds to download the complete collection.
They also offer a list of upcoming mints. This way you can keep informed about future minting events. If there are collections that you fancy, you can find links to their websites.
The information on this page comes straight from the projects. This means that you may need to do some more research. For example, how many items are in the collection, and what is the mint price? This information is not always provided. However, what Rarity Sniffer does provide is on which chain the mint takes place. Below you can see part of the upcoming mints page.
Source: Rarity Sniffer website
How Does Rarity Sniffer Work?
Rarity Sniffer works in an easy-to-understand way. On an NFT marketplace, look for your preferred collection. For instance, the Sui Punks on OpenSea. Once you’re in the collection, you need to find the NFT asset ID. That’s the number of an NFT. This is not the rarity ranking, but just the number in a collection.
For example, in Sui Punks, there are 2992 NFTs in its collection. The NFT that got minted first, has as ID #1, and so on. The picture below shows the SUI Punks and their current floor price on OpenSea.
So, once you find your asset, you look for the asset ID. As the picture above shows, the first NFT on the left has as ID #2381. Now you can go to the RS website and look for the Sui Punks collection. You can add the name to the search box, and it will show you the collection you’re looking for. See the picture below.
Click on the Sui Punks collection, next to the red arrow. This will bring you to the Sui Punks collection. See the picture below.
How to Find the Rarity Ranking?
So, let me walk you through the picture below:
- Now you can add your #2381 ID in the token search box and hit the “enter” key.
- Within a second, you will see the rarity rank. In this case, #370.
- The price of the NFT in ETH.
- Confirmation of the ID, in this case, #2381.
- Click here, and you will see the NFT on OpenSea.
- If you hit the “buy” button, you will be able to do so on OpenSea. Just connect a wallet, like MetaMask, and confirm the price and gas fees.
Now you not only know how Rarity Sniffer works, but you also know how to buy an NFT.
This is Part 1 about Rarity Sniffer. We explained what this tool is and how it works. Furthermore, we also discussed some NFTs you can find on Rarity Sniffer. Here you can find our Part 2 of Rarity Sniffer.
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