Question 1

What is NFT Rarity?

Accepted Answer

NFT rarity refers to the uniqueness and scarcity of a digital asset within its collection. Using the OpenRarity standard, SimpleHash provides real-time, accurate rarity scores, helping users understand the distinctiveness of each NFT.

Question 2

How does SimpleHash calculate rarity scores?

Accepted Answer

SimpleHash calculates rarity scores based on the OpenRarity standard. This involves analyzing unique attributes and rarity ranks of NFTs, providing a mathematically grounded and consistent valuation.

Question 3

What is the significance of Rarity Rank in SimpleHash?

Accepted Answer

Rarity Rank in SimpleHash is a numerical indicator showing an NFT's position in terms of rarity compared to others in the same collection, offering insights into its scarcity and value.

Question 4

How does SimpleHash support different NFT standards for rarity calculation?

Accepted Answer

SimpleHash supports various NFT standards like ERC-721 and Metaplex, ensuring broad coverage and compatibility in rarity score calculations for different blockchain ecosystems.