We continue here with Part 2 about Rarity Sniffer. In Part 1, you can find information about what Rarity Sniffer (RS) is and how it works. We also shared the NFTs you can find on this platform.
Now we look into three new popular questions about Rarity Sniffer. So, let’s have a look at what we can find out.
RaritySniffer is happy to bring you an additional new ranking algorithm.
RSNet algorithm utilizes RaritySniffers original algorithm and includes part of the @OpenRarity algorithm to create a version with enhancement and optimization.
Take a look! https://t.co/eO9TthArkc
— Rarity Sniffer (@Rarity_Sniffer) September 20, 2022
Is Rarity Sniffer Accurate?
Rarity Sniffer just had an upgrade with a new ranking algorithm. They now use the RSNet algorithm. It uses the original Rarity Sniffer algorithm, but it also includes part of the OpenRarity algorithm.
So, for now, we couldn’t find any formula on how this new RSNet algorithm looks like. However, here’s a link to an OpenRarity page in which they describe how their algorithm works. It includes various samples of collections. For instance, Bored Ape Yacht Club or Pudgy Penguins.
This sounds great, but unfortunately, it’s not all as rosy as it may seem. One collection that I closely follow has its ranking pretty much off since the upgrade. The Sui Punks, used in Part 1, is the collection that I refer to.
As a result, Sui Punk holders can’t use Rarity Sniffer anymore. The Sui Punks now have a unique ranking that no other ranking platform follows. We don’t have information on other collections on how the new algorithm impacted their ranking. Below is the Bored Ape Yacht Club collection on Rarity Sniffer.
Source: Rarity Sniffer website
Is Rarity Sniffer Legit?
Rarity Sniffer is a legit platform. They use a formula that calculates the ranking of an NFT in a collection. It uses the metadata of an NFT for this. This metadata contains important information. For example:
- NFT’s name and ID
- A description
- The traits this NFT has
- A link to the host image
With the help of this metadata, RS can determine the ranking of an NFT. You can compare these rankings with other platforms. These platforms don’t need to comply to certain standards. Most of them use their own standards. However, the rankings seem to be similar between platforms. On the other hand, we also noticed that rankings can be off sometimes.
This is currently as legit as ranking platforms can get. Nonetheless, you may need to do your own research and find the platform that suits you best.
Does Rarity Sniffer Have Competitors?
The market for rarity tools is competitive. As a result, Rarity Sniffer has quite a few competitors. So, we want to introduce some of these competitors to you. For example:
- Rarity Tools — This is one of the most used tools. It offers a user-friendly interface. You can find NFTs in a variety of different ways. Think of total sales volume or average price.
- Traitsniper — This platform offers a free and a premium version. A useful tool, but it can be a bit intimidating at first. Once you get the hang of it, it offers lots of information. It also covers at least six different NFT marketplaces.
- Rarity Sniper — This platform offers info on a few blockchains. However, it lists a limited number of collections. Currently, just under 1,900 collections. Informative and covers a variety of blockchains.
- HowRare.is — For Solana collections only. Lists no less than 1,220+ collections. Offers lots of information on Solana NFTs.
Below is a picture of the Rarity Sniper main page.
We covered three more popular questions about Rarity Sniffer, such as if this tool is accurate and legit. Furthermore, we also looked at some competitors. Rarity ranking tools are powerful and useful tools. Not only collectors can use them, but also small time NFT investors like you and me.
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