We quantify Non Fungible Token (NFT) rarity and investigate how it impacts market behaviour by analysing a dataset of 3.7M transactions collected between January 2018 and March 2022, involving 1.3M NFTs distributed across 410 collections. First, we consider the rarity of an NFT based on the set...
NFT rarity indicates how unique an NFT is, particularly in relation to other NFTs in its collection. Some NFTs, such as the Bored Ape Yacht Club tokens, are released in large sets, while others, such as “Everydays: The First 5,000 Days” by Beeple, are released on their own. Those n...
This process of tokenizing digital artworks means that the asset owner uploads the piece to an NFT marketplace, where it is “minted” on the blockchain—recording it as a unique, unchangeable asset. After that, the artwork will be available to be sold to collectors, who will receive a ...
Explore your creativity using AI in the NFT space. There are many different ways to use AI to create NFT collections. There is no limit to what you can create. AI can be used to create generative art, 3D art, illustrations, music, videos, and other forms of digital art. The possibiliti...
However, there are drawbacks to consider. There are concerns about AI-generated NFTrarityand the risk of artworks lacking originality and becoming formulaic.Ethical concernsarise with questions about authorship and authenticity. Technical challenges such as the learning curve and potential bugs can frustr...
In-game digital assets such as the Axie creatures are represented byNFTs. These cryptographically unique tokens confer ownership and allow the player to trade Axies or other assets on the game’s marketplace. In the realm of NFT projects, Axie Infinity holds the record for the fifth-highest al...
NFT markets come in a variety of shapes and sizes. The first category, mass marketplaces, includes significant cryptocurrency marketplaces likeGameStop NFT, OpenSea, Axie Infinity Marketplace, Rarible, and Nifty Gateway. These websites host a wide range of NFT collections, including ones related ...