OpenSea NFT marketplace has enabled a new feature on its site, that will rank NFTs on the basis of their rarity.
Named OpenRarity, this feature will enable collectors to
find legitimitely rare digital collectibles, that have been drowining in the
sea of NFTs out there. OpenRarity will provide verifiable rarity calculations
for NFTs using a mathamatical approach for calculations.
Rare NFTs will be awarded lower numbers. OpenSea claims to
be the world's biggest NFT marketplace that touched the market cap of over $13
billion earier this year.
OpenSea announced the implementation of this protocol to its
1.8 million followers on Twitter.
“Today we are launching @OpenRarity on OpenSea! We're
starting with the wonderful @coolcatsnft @pudgypenguins and @moonbirds teams,
who have opted their collections into OpenRarity,”the platform wrote in its
tweet.
NFT creators will have the control to choose to apply the
OpenRarity feature to their pieces.
"OpenRarity is an open collaboration between OpenSea,
icy.tools, Curio, and PROOF. On OpenSea, creators have the choice of whether to
opt-in to show OpenRarity rarity rankings for their collection," the
platform wrote.
1/ Today we are launching @OpenRarity on OpenSea! We’re starting with the wonderful @coolcatsnft @pudgypenguins and @moonbirds teams, who have opted their collections into OpenRarity – go check them out! 💙👇 pic.twitter.com/BzXK0PeQHZ
— OpenSea (@opensea) September 21, 2022
The NFT market will be a $231 billion behemoth by 2030 and
it's too big a business to be ignored, believes, Tarusha Mittal, COO and
co-founder of UniFarm said in conversation with Gadgets 360. UniFarm is a
multi-token reward staking programme.
Owning NFTs has off-late, become a trend. NFTs have been
proving to be a lucrative business tool for several big brands also.
A total of $260 million has collectively been bagged by
high-end luxury brands including Nike, Gucci, Dolce & Gabbana with the
sales of their NFT pieces.
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