OpenSea revises NFT rarity ranking protocol after community feedback HEAD TOPICS
OpenSea revises NFT rarity ranking protocol after community feedback
10/21/2022 3:18:00 PM Days after receiving feedback from community members OpenSea made revisions to its rarity ranking methodology
Source Cointelegraph
Days after receiving feedback from community members OpenSea made revisions to its rarity ranking methodology OpenSea announced that the marketplace will be enabling the rarity ranking feature across all chains on Oct. 25. NewsWhile giving rarity ranks to nonfungible tokens (NFTs) on a marketplace may help collectors decide on whether to purchase NFTs or not, some argue that ranking NFTs may do more harm than good.In a tweet, an NFT investorpointedout several issues surrounding OpenRarity, the new rarity ranking protocol implemented by NFT marketplace OpenSea. According to the community member, putting “rank” in the NFT listing with no mention of “rarity” anywhere could be misleading. Taking the Moonbirds NFT collection as an example, the community member argued that since the collection enabled the OpenRarity ranking protocol, it destroyed its own market-driven rarity structure, making every single NFT a “floor Moonbird.” The NFT collector also Read more:
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