How Bueno Calculates Rarity

Bueno uses two popular methods for calculating the rarity of an NFT, Rarity Score and Average Trait Rarity. Understanding these methods will help you determine the uniqueness of each NFT in your collection.

Rarity Score

Rarity scoring is a straightforward and dependable method for assessing the rarity of an NFT. The rarity score for a token is the sum of trait scores:

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

This simple calculation gives consistent results for many NFT collection and serves as the basis for rarity rankings on several NFT platforms, including popular marketplaces.

Average Trait Rarity

Average trait rarity is another way to calculate NFT rarity. This method is better suited for collections that have tokens containing a varying numbers of total traits. It works by averaging the rarity score of its individual traits.

For example, if an NFT possesses 2 traits:

• Trait A = 50%

• Trait B = 10%

The average trait rarity would be: (50+10) / 2 = 30%

However, a common drawback with this approach is that it places considerable emphasis on the combined rarity of all traits, potentially undervaluing an exceptionally rare single trait, and causing the overall rarity value to be diluted by less rare traits.

Rarity Rank

The Rarity Rank for a token is simply how unique that NFT is relative to the collection. A rarity rank of 1 means that NFT is the most rare.

When determining the rarity rank of a token, the rarity score is used.