When we buy NFT, some pure financial investors will choose to "sweep the floor", sort the prices directly from Low to High, buy the lowest price in batches, and wait for the floor price to rise. And more ordinary people buy Avatar to make their own avatars, they will consider many comprehensive elements, and want to buy a "good-looking", "cost-effective" and "cheapest among rare".

In this decision-making process, investors generally refer to rarity ranking websites, such as Rarity Tools, Rarity Sniper, HowRare.is, NFTGO, etc. These websites will sort all the individuals in the NFT series, and disassemble the rare elements of each NFT for scoring.

When we say this, the truth seems to be very simple and easy to understand: the more rare elements an NFT has, the rarer it is and the more valuable it is.

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Why is it ranked so high?

Let's take an example. The image below shows Rarity Tools ranking of the top 10 Bored Ape Yacht Club rarities.

If you read it, you will be a little confused. 2 and 3 don't look so eye-catching, why are they ranked so high? Let's expand and look at the second-ranked boring monkey.

First of all, pizza is a rare element. Only 0.26% of monkeys hold pizza in their mouths, that is, 26 monkeys, which is easy to understand.

And the next Trait Count represents the number of Properties on Opensea, which is 4 for this monkey. In the calculation of monkey rarity, the ranking of general websites is 4, 7, 5, 6. That is, the monkey with the least amount of elements is the rarest, and the monkey with the most elements is the second rarest. In short, the baldest monkey was worth more than the most elaborately dressed.

In fact, most NFTs also refer to this sorting method. So you can see a lot of simple styles that are at the front of each collection. This monkey comes in second because it has no clothes, no accessories, and a relatively rare background color and eyes.

But for most of the big players who buy high-priced NFTs to show their status, buying this so-called second-ranked monkey may not be as good as buying gold-skinned, cyclops, monkeys with highly recognizable dominant elements.

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Liquidity determines whether it is good or not

In August last year, when the floor price of BAYC was 40 ETH, a friend asked me whether this monkey was "the cheapest among the rarest" and whether it was worth buying. At that time, the price of this monkey was 67 ETH.

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I hasten to remind him not to buy this because "red hair" is the least popular element in the BAYC community. Although the monkey has some relatively rare elements, none of them are rare enough. At that time, monkeys with "dominant elements" such as gold teeth or rainbow teeth were also listed at the same price. It is better to buy those.

Another unpopular element is "Crazy", which is the monkey eye style ranked second above. It's hard to answer if you want to find out why. In terms of rarity, they are not the worst elements, but the long-term and established aesthetics and values ​​of the community.

So when you look at the BAYC floors hanging out, there are always a lot of pop eyes and red hair.

There are many similar situations, such as in Crypto Punks, women and dark people are always on the floor, but they are not the worst in terms of rarity. This is infuriating, but it also represents the truth of mobility.

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Changes in Market Factors

Although NFT has many customary community aesthetic tendencies, this will also change when more and more newcomers enter the market and they enter the mainstream.

One of the reasons for the high price of BAYC is the blessing of many celebrities. And many celebrities follow the "rich and self-willed" style, so it doesn't need to be rare.

For example, not long ago, the rapper Eminem spent 123.45 ETH to buy this BAYC, mainly because it "looks like me". According to the rarity ranking of Rarity Tools, this monkey ranked 5325, which is lower than the middle. At that time, the floor of BAYC At 67 ETH, the monkey is clearly overpriced, but Eminem sure doesn't care.

Looking at it from another angle, if this monkey is sold again one day, there will be many buyers. After all, this monkey has been blessed by my father. The logic is just like that famous paintings will also generate a premium because of former collectors.

And after Mr. Mu entered the market, not only did the floor price of BAYC rise by 10 ETH that day, but the value of the white monkey also increased. It is easy to think about the reason why "star-like models" are sought after by people.

The same is true of Curry's example. The blue monkey was originally an unpopular element in the BAYC community, but because of the entry of NBA superstar Stephen Curry, BAYC ushered in a truly global wave of communication that broke the circle. Twitter and Douyin have become the number one search list, and this little blue-skinned monkey has also become an iconic image. Naturally, the blue-skinned monkey has also risen with the tide for a while.

Another interesting example is that after the mutation potion is airdropped, the mutation effect of some elements on MAYC also affects the price of BAYC in turn.

For example, before the emergence of mutant monkeys, the element of colored teeth (1%) was not particularly popular. It was not as expensive as gold teeth (0.91%), but the mutant monkeys with colorful teeth were very beautiful and had outstanding effects. Soaring, surpassing the rarer golden tooth monkey.

Having said so much, you probably understand that the rarity of NFT is really a metaphysics.

To sum up, if you are not a professional investor, I have two suggestions, one is to buy what everyone likes, and the other is to buy what you like.

The former can refer more to historical transaction data to guarantee liquidity; the latter has a self-consolation when it plummets and returns to zero: at least I think it looks good.