Rarity plays a large role in the overall value of NFT projects, including in the utility that can be offered through an NFT’s traits. Creating a proper rarity strategy can add to the excitement of an NFT project’s collectors. Rarity Sniper is the #1 source for NFT Rarity and they shared with us the best tips to create the perfect Rarity strategy.
Before you decide to create your next NFT project, take into consideration these six important aspects of creating an excellent rarity chart for your NFT collection.
Before you can determine what traits your NFT project will have, first you need to create the traits categories. The main purpose of traits categories is to help organize all the unique traits.
Some examples of trait categories can be a jacket, hat, facial expression, and what the character is holding in their mouth. Each category would then have a certain number of unique traits, which are more specific, and each unique trait would appear a certain number of times in the NFT collection.
Rarity Sniper recommends having a minimum of seven trait categories in your NFT project to keep your collection visually exciting
You can’t develop a proper rarity strategy without creating individual traits. As mentioned in the previous section, traits go under your trait categories. For instance, with the example of the trait category of a jacket, your unique traits might be “gold jacket,” “blue jacket,” “leather jacket,” etc.
You can then choose how often each individual trait appears in your collection. For instance, a gold jacket might appear five times and a blue jacket 505 times.
Individual traits are an essential part of any rarity strategy and are the foundation for many NFT projects. When creating traits for your NFTs, you want to make sure that you have at least 150 traits.
The more traits you have, the more diverse your project will be. However, if you make too many traits, a project can quickly become overwhelming.
Likewise, if you fail to create enough traits, your project can appear undiversified and remain stagnant.
Within your set of unique traits, you should strive to include rare traits. These rare traits should not exceed more than 1 percent of your NFT project’s total quantity. If your project has 1,000 NFTs, then only ten of those NFTs should have rare traits.
For example, in the popular Bored Ape Yacht Club collection, the “Laser Eyes” trait appears in less than 1 percent of NFTs. The fact that it appears so few times in the collection makes it an ultra-rare trait.
Rare traits can add additional value to your NFT project by creating scarcity within the collection. This means that NFTs with rare traits might be more valuable than those with common traits. Rare traits add to the excitement of collectors.
When creating your NFT’s unique traits, avoid traits that don’t have a significant impact on the visual aspect of your NFTs such as earrings or other small objects.
An example of a low visual impact trait to avoid comes, again, from the Bored Ape Yacht collection. The trait category in question is the “earring.” The “gold stud earring” is very small to the point where you can barely see it.
Avoid the use of low visual impact traits that will prevent your NFT project from looking diverse and exciting. If you use a less noticeable unique trait, your NFTs may all look the same and as a result, may appear unappealing to potential collectors.
The next level of rarity that you should include in your NFT project is one-of-one and legendary traits. These extremely limited-edition traits can provide your project and collectors with added value and excitement.
An example of one-to-one traits is in the Cool Cats collection. There are several Cool Cats that are drawn one-of-one, meaning they don’t have any generative art traits. In part, because they are so rare, they’re very valuable.
You want to avoid having too many legendary traits though, as this can result in the top of the rankings for your NFT project to all rank number one. Rarity Sniper says that the optimal number of legendary trait NFTs they see in projects are limited to ten NFTs in the entire collection.
The last thing that you should consider when creating an excellent rarity strategy for your NFT project is the type of media used. Media refers to the asset used to create the NFT. You can choose to use images, animation, video, and audio to spruce up your NFT project.
Rarity Sniper recommends using a mix of media to diversify your NFT project and help differentiate the levels of rarities.
For example, you can have your more common rarities as static images and then make legendary NFTs animated. This tactic separates the legendary NFTs from the common NFTs, as seen in the Boryoku Dragonz NFT collection.
Collectors can then quickly distinguish the more desirable NFTs in a project. Differentiating media helps keep the project exciting and capture the imagination of anyone who may be viewing it.
Another way to implement unique media is to collaborate with influencers and other artists in the space. You can have an artist design traits for your project, or you can even incorporate an influencer to be represented as one of the NFTs in your project.
Creating an excellent rarity strategy for your NFT project is a crucial step in executing a successful NFT launch, as well as sustaining your NFT project long-term. A good rarity strategy helps collectors find what they are looking for easily and ensures your NFT project is exciting.
If you are an NFT creator and you want to make your own NFT project, make sure to be thoughtful about your rarity strategy and take into consideration the advice expressed by Rarity Sniper.