Computing Rarity Score Of Art Blocks NFTs

Inspired by data available on Flipside Crypto Data Warehouse and this article, I wrote a small proof of concept in Javascript to compute “rarity score” of Art Blocks NFTs. In this post, I’m going to show you top NFTs from Art Blocks as well as their Rarity Score. Wondering is what is “rarity score” of an NFT? Let’s start with answering that question then.

Rarity Score of an NFT helps you answer the question “how rare is my nft?”. It is very important question one should find answer before buying an NFT because rarity is key factor in determining the value of an NFT. Rare NFTs are precious!

Ok, now you understand what Rarity Score is. Good. Let us start with understanding most popular NFTs on Art Blocks. The following chart shows the top Art Blocks NFT Collections ranked by sales volume in USD.

Geometry Runners leads the pack with around 150 Million US Dollars in sales. It is followed by Fidenza & Ringers.

Ok, what about the top 10 NFTs by sale price of an NFT across all Art Blocks collections ? Here is the chart! Did you notice Ringers #879 was sold for 5.3 Million US Dollars? Wow!

Time to present you a table full of NFT Rarity Scores of all NFTs from the Top 5 Art Blocks collections.

Here are the top 10 NFTs that have high rarity score, yet they are not priced high.

How is Rarity Score Computed?

Here is the formula to compute Rarity Score from the post mentioned at the beginning of the post.

[Rarity Score for a Trait Value] = 1 / ([Number of Items with that Trait Value] / [Total Number of Items in Collection])

This Javascript computes the Rarity Score with the described high level steps

  1. Download data from Flipside Crypto using an API
  2. Clean up the data and expand NFT Features (traits)
  3. Compute Rarity Score of every trait of an NFT
  4. Compute Rarity Score of NFT

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