NFT Tracker: Best Rarity, Trending, and Release Tools
Due to the wide availability of NFTs, it may be difficult for you to invest in them. If you want to make good investments, it is important to spot the best NFT collections. Although manual tracking is possible, it is also time consuming. Here is a detailed breakdown of the best NFT trackers that allow investors to track trending NFT projects.
What is NFT rarity?
Thousands of NFT sales take place daily, many of which come from new collections. If you are new to NFT investing, you may find it difficult to identify the most valuable NFTs to invest in. While some NFTs are worth millions of dollars, others from the same collection may be worth nothing.
The rarity of NFTs will help you understand which NFTs are the most valuable. When an NFT is considered extremely rare, chances are it is also extremely valuable. In most cases, the rarity of an NFT drives up its price.
How is NFT rarity calculated?
NFT collections can include thousands of distinct NFTs. However, the rarity of each NFT is not the same, which means that the value of each will not be the same. Let's say an NFT collection consists of 500 NFTs. It is possible that there are hundreds of very common NFTs in this collection, but only a dozen of the rarest ones. Ordinary NFTs would have a relatively low price. In contrast, the rare NFTs would be the most valuable.
There are several techniques you can use to calculate the rarity of an NFT. You can set rarity parameters that focus on the rarest trait, average trait rarity, or statistical analysis of rarity. Regardless of the method used, all NFT characteristics are taken into account in each calculation, resulting in an NFT rarity score.
Although you can calculate the rarity of an NFT yourself, it is considerably easier to use software and programs that perform these calculations for you. With just a few mouse clicks, you receive detailed information based on complex calculations.
NFT function
The technique for calculating NFT traits is to compare the rarest attribute of each NFT. The main problem with this calculation is that it is too simple and straightforward, which is generally not a good thing when trying to determine the rarity of an NFT. In fact, this calculation ignores the general rarity of an NFT. If only one of an NFT's characteristics is rare, but the others are common, the NFT would be incorrectly labeled as rare, leading to accuracy issues.
Average NFT Trait Rarity
The second method available is to get an average of the rarity of each of an NFT's available traits. Let's say an NFT has three traits with respective rarities of 50%, 40%, and 20%. Combining these numbers and dividing them by three, the average NFT trait rarity would be 36.7%.
The main reason for not using this method to identify NFT rarity is that it focuses too much on the rarity of each trait, which is problematic if one of the NFT traits is super rare. In this situation, the rarity value you get after the calculation is effectively diluted.
Statistical rarity
The method of calculating statistical rarity is to multiply all NFT characteristics to identify the overall rarity of an NFT. If one of the two total traits of an NFT has a total weight of 50% and the other has a total weight of 10%, the rarity stat is set to 5%. While all three of these calculations provide fairly accurate calculations, each method has flaws that you need to consider. If you don't want to waste time doing this every time you perform a calculation, it's best to use an NFT tracker.
What are NFT tracking tools?
NFT trackers are software that helps investors track the most popular NFTs among various NFT collections. These tools are specifically designed to track new and current NFTs by rarity.
If you want to make money from the NFT market, consider using NFT tracking tools that automate the NFT tracking process for you. Keep in mind that new NFTs are created almost daily, which is why it's important to use software that can provide constant tracking. This software is able to identify and analyze NFT collections before providing the results. The information you get from these tools can help you make more informed investment decisions.
How does an NFT tracker work?
NFT trackers work by sorting the collections available in the NFT market. From there, NFT trackers identify and analyse these collections to help investors understand which NFTs are worth their money. Keep in mind that these tools are designed to focus on rarity, as rarer NFTs are more valuable.
The best trackers will give you information about the protocol the collection is based on, current NFT volume, number of users and sales, recent collection activity, and NFT market insights. Having access to this information can make you a better investor by limiting bad investment decisions. It is also possible to check decentralized applications (DApps) associated with NFT collections when using an NFT tracker.
Benefits of using an NFT tracker
The main benefits associated with using NFT trackers include:
- Tracking is fully automated and should provide instant NFT stats.
- Most NFT trackers are completely free.
- Most trackers are reliable and will provide solid analysis.
- Some NFT trackers also track cryptocurrencies.
Disadvantages of using an NFT tracker
The main trust issues in NFT trackers are:
- Some trackers lock their best features behind a paid version.
- It can be difficult to tell the difference between reliable and unreliable trackers.
- It may take some time to find the best NFT tracker for your NFT wallet.
Best NFT Tracker: Best tools to track new NFT rarities
While there are dozens of NFT trackers available to you, the following list provides a comprehensive guide to the best NFT trackers in the industry.
Rarity Tools
Rarity Tools is one of the most popular NFT tracking tools due to its extensive tracking and analysis features. NFTs can be categorized by average price, billing and volume. The Rarity Tools website provides users with a dedicated page for each NFT collection, as well as more specific attributes for each individual NFT. Each NFT also comes with a rarity score. And the best part of Rarity Tools is that all features are free.
OpenSea
OpenSea is a very popular platform that allows users to sell, trade, buy and track NFTs. Although this platform is designed to be an NFT marketplace, it provides users with extensive tracking and analysis capabilities. When you use these features, it should be easier to figure out which NFTs you want to invest in.
Keep in mind that the tracking features and the NFT Marketplace are all on one site. By visiting the statistics page, you will be able to see the activity and rank an NFT in real time. Every NFT based on Klaytn, Polygon and Ethereum blockchains is supported. The tracking features available with OpenSea are free.
DappRadar
DappRadar is an excellent website mainly designed to help users monitor the sales information of various NFT collections. A wallet tracker was also added a few years ago, giving users the ability to perform real-time monitoring on Ethereum wallets. All you need to do is enter the ENS name or Ethereum wallet address to get information about the wallet's NFT balance and total net worth.
In addition to its strong portfolio tracking capabilities, DappRadar also allows you to filter an NFT collection by sales, volume, or merchants, so you can track NFT trends and monitor any sales that occur. DappRadar is free.
Crypto.com
Crypto.com is probably the most popular cryptocurrency site. It also provides users with useful tracking tools. In fact, the most important information about valuable NFT collections is available on this platform. By following a specific NFT, you can get NFT statistics on volume and price.
By researching the best NFT collections to follow and invest in, you can sort by floor price, sales, collection value, total assets and volume. Crypto.com also lists upcoming NFT collections, allowing you to prepare your portfolio for future investments. Some additional information displayed with each NFT collection involves data on upcoming NFT drops, asset value, and mint price.
frozen tools
Icy.tools is an effective tracker that focuses on trending collections. Once your wallet is connected, you can see the most popular NFTs from the last 15-30 minutes. Minimum price, sales, average price and volume are available when tracking NFTs.
This tool is quite easy to use for beginners and allows portfolio tracking. If you get the premium subscription, you can get data for every NFT collection, which extends to price charts and historical data. NFT projects can be separated by attributes and rarities.
NFT Drops Schedule
The NFT Drops Calendar is a tool that is primarily intended to help users identify NFTs when they are first published and released to the NFT market. The purpose of this tool is to ensure that you can invest in an NFT before the price gets too high.
Alerts are available for upcoming NFT releases, events and giveaways. You can also search for specific collections through a variety of different search filters and tags. Some of the search parameters you can use include price, volume, and manufacturing dates.
Etherscan token tracker
Etherscan Token Tracker can be used with all Ethereum-based currencies. This tool is able to track all NFTs that comply with the ERC-721 standard, of which there are currently more than 21.000. Its NFT toolset recently added features that include pricing, transfer, minting and distribution data. All tracking features are free.
Rarity Sniffer
Rarity Sniffer ranks among the best NFT trackers in this guide due to its ability to rank new NFT projects based on their overall rarity. Only the latest collections are tracked for users who get the free version. If you want reviews of current NFT projects and their rarity, you'll need to subscribe through the tool's Discord channel, which costs 1.5 ETH.
NFT Bank
NFTBank is designed to provide users with comprehensive information on NFT investments. You'll be able to see spend, ROI, and other activity for a specific NFT or collection. You can also use the NFTBank tool for portfolio management.
The many features users have access to include a basic user interface, analytics, and portfolio tracking. The analysis and signals feature is very beneficial as it can provide users with new NFT investment opportunities.
Cryptoslam
CryptoSlam! is a fantastic NFT tracker that focuses on market analysis and finding non-fungible tokens. Each NFT collection has a dedicated page that displays recent minting activity and sales information. Every piece of NFT data you want to track can be viewed with CryptoSlam!, which includes minimum price, total number of owners, sales, and trading volume. NFT rarities can also be previewed. NFT tracking tools can be used for free.
NFT Statistics
NFT Stats is a simple and easy to understand NFT tracker that offers extensive NFT analysis tools. Although relatively basic, you will be able to view information about individual collections. Trending collections sorted with NFT Stats can be filtered by sales volumes or rarity ratings. You can filter the best collections sold in the last 30 days, seven days or 24 hours.
RarityMon
RarityMon is one of the most accurate rarity checkers on the market. It is a Discord bot and a web application that provides information about the rarest existing or upcoming NFTs. Keep in mind that Rarity Mon uses a common statistical formula to show the rarity of each NFT trait before providing a total rarity score. Finally, networks like Ethereum and Cardano are fully supported, and any new collection is listed in less than two hours.
Sniper
Trait Sniper is a popular tracker that gives you detailed information about current and upcoming projects that you might want to invest in. The Trait Sniper bot will analyse each NFT to assess its rarity.
Both free and paid versions of this tool are available, with the latter offering real-time alerts for new collections, including their rarity scores. Selecting an NFT with this tool will give you a rarity score, rarity rating, highest bid, and current price.
Why use an NFT Tracker in 2022?
Whether you are a beginner or an experienced trader, we strongly recommend that you use an NFT tracker to identify NFT scarcity in order to make quick investment decisions. The most important aspect of building a solid NFT investment portfolio is to be as informed as possible. By getting more information and data about each NFT you are considering investing in, you are more likely to make smart investments and avoid putting your money in less valuable NFTs.
While manual rarity calculations can be done, they take a considerable amount of time - and aren't always accurate, which is why an NFT tracker can be invaluable. If you're still unsure about using an NFT tracker, consider testing a free tracker before using a paid one.
Conclusion
The NFT trackers detailed in this guide offer investors useful tracking features, in-depth analysis of NFT collections, and easy-to-use interfaces. Choosing the right NFT tracker for your portfolio should make it easier to track NFT trends and add the most valuable ones to your portfolio.
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