Opensea is launching a new NFT rarity protocol dubbed OpenRarity. – Latest News

Last week, OpenSea officially announced OpenRaritya new scarcity protocol NFT for the community NFT. To develop it, the company joined forces with analysis experts Web3, Curio Tools, PROOFetc. Indeed, it aims to provide a new standard for grading methods NFT.

An overview on OpenRarity

OpenRarity is a brand new rarity protocol NFT with its own platform. It was actually designed specifically for the community NFTwith plans to set a new universal standard for classifying the rarity of NFT in a somewhat chaotic market.

In fact, the team OpenSea developed it in collaboration with, Curio Tools and PROOF. This is’a transparent, mathematically sound and objective method of calculating rarity. On the other hand, it should be noted that this is completely open source and can be reproduced by anyone.

The team ofOpenRaritysaid : “We think it’s important to find a way to provide a unified, transparent, and consistent set of rarity ratings across all platforms. This is to help build trust in the industry through transparency.

Additionally, the protocol OpenRarity has been verified by a team of designers representing many of the top 100 collections. This for s’to assure that it is valid and easy to understand.

To read: Puma unveils its very first “Black Station” metaverse experience.

The features ofOpenRarity

Additionally, OpenSea wants to create a transparent, consistent, easy to find, and simple ranking system for rarity. To do this, they wanted to solve three problems. Current problems and solutions are :

  • 1. The filing industry NFT combines the concept of rarity (the mathematical rarity of an attribute) with the connection of the creator and the market value. Yet value is thus based on attributes other than rarity. OpenRarity will provide them in a separate classification.
  • 2. Closed-source code is used to determine ranking, using “meta-features” that don’t exist on-chain. Meta features, such as number of features and other hidden values, lead to big differences in market rarity rankings. OpenRarity will use a completely open source program for its data and will exclude meta features from its ranking system.
  • 3. Many rare tool vendors charge a fee to projects NFT to list collections on their platforms. OpenRarity wants to create a fair environment for everyone.

Otherwise, OpenRarity is voluntary, so favorites and developers NFT can choose to use it or not. Thus, if consumers choose to participate in OpenRaritydevelopers will have access to APIs, which will increase user access to this data.

Bonus: Ford enters the metaverse by filing 19 trademark applications.

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Opensea is launching a new NFT rarity protocol dubbed OpenRarity. – Latest News

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