NFTinit provides rarity ranking calculation of Non Fungible Tokens (NFTs) depending on the properties of NFTs on the Ethereum Blockchain. NFTinit works on OpenSea (Biggest NFT Marketplace) by using real time page details data and calculates the standing (rarity ranking) of each NFT within a collection.
Problem: NFTs are valued by their rarities. Rarity is calculated based on how many of the other NFTs in the same collection share the same properties. However, on the Opensea marketplace, the properties are shown in the detail pages. Meaning that in order to see the property distribution, users need to go to each and every single page. Also the rarity of an NFT is not solely based on its own property distribution but also its rarity’s standing (ranking) compared to the other NFTs property distribution in the collection. For the final rarity ranking calculation, the user needs to calculate the rarity of each and every NFT in the collection and finally find where the NFT the analyzing is ranked in the whole collection. Even though this process can be done manually in theory, in practise it takes simply too much time.
Solution: NFTinit analyzes the NFT collections, creates the rarity rankings forehand and while the users browse on the marketplace (Opensea) the rarity rankings are shown on the thumbnails of the NFTs which saves users tremendous amounts of time. Also by running the extension dashboard, NFTs are listed with their view, favourite, visit counts and rarity ranking. By using NFTinit, users can simply see all the data they need to analyze NFTs while scrolling.