Oasis ecosystem and NFT projects has been steadily growing over the period of past six months and the trends continues to stem up-words. With all the new NFT collections launching, we now have a big set unique problems in our hand.
How do we as individual understand the entire collection ? How many rares are there ? How many traits are there ? Each trait composition ? Total number of particular traits ? among various other questions.
All NFT Projects have tried to solve it via unique ways to best of their ability either via pdf snapshots, Google sheets or even discord channel to explain multiple traits and rarity of their collections. 🙇
Mirage began the journey to build a sophisticated tooling for Oasis where users are able to easily digest the entire collection by:
1) Analyzing NFT Collection( Unique filtering method)
2) Rarity Rankings
Diving Deep[Mirage NFT Rarity Analytics]
Mirage rarity tool as shared before not only allows people to easily sift through entire collections but also lets you see the analyze the collection as whole along with different search bars, and unique super quick filterings and easy to use drop downs. Along with us, super easy to understand rarity rankings.
Let’s dive a little bit deeper into explaining the tool to all novice, intermediate and advanced users alike. We have divided the tool into 3 phases trying to replicate a user’s journey across the product.
Phase 1: Home Page
The home page gives a quick overview of the entire website with a search bar feature, Multiple collections listed on front page along with NFT Calendar for Oasis and Get listed form for Oasis Nft projects.
Lets break each down ✍️
- Nft Calendar[For Users]: Your source of knowledge for all new and upcoming NFT Projects which are scheduled to mint on Oasis. This will allow us to quickly check out different projects and all details regarding their socials (Twitter, discord and website). The Calendar is meant to be inclusive for all and are not endorsements from Mirage team or Oasis. Always Always DYOR!!!
- Get Listed[For NFT Projects]: This option is for all NFT projects on Oasis to go through listing procedure on Mirage rarity. A simple, understandable google form which allows for super quick onboarding of nft collection.
- Explore Oasis NFT Collection[For Users]: Look out for your favorite project or Explore all the different collections (Some are bound to catch your eyes like our beloved Oasis Cactus). You can also use the search bar on top to quickly reach the collection page.
Phase 2: Collection Page
After clicking a certain collection, Mirage rarity lets you dig deeper into a specific collection. For our experiment, we chose Oasis Cactus we all dearly love, Oasis own unique CCO Art collection aesthetically drawn by Mirage.
Breaking down features for NFT Traders:
- Search Bar:Search for the NFT id you are looking for. Highly helpful when you have want to see rarity and traits for a particular NFT in collection.
- Sort by id: Selecting sort by id publishes the entire collection following the original id’s. Oasis Cactus #1, Oasis Cactus #2 etc
- Sort by Rarity: Sort by rarity categorizes the entire collection into ranking led by the rarest of nfts to least rare.
4. Unique Filtering: Mirage rarity not only provides rarity ranking, but also provides extremely fast filtering of NFT collections by different traits. Filtering is practically instant in most cases. We also make sure that our filters capture the total amount of different traits distributed in collection[Love (42), Laser eyes (10), Crown (2) etc). Want to know how many Laser eyes we have in collection ? Well you know where to look :P
Phase 3: Particular Image/NFT/art
Mirage rarity allows collectors to dig deep into each individual art pieces breaking down different aesthetics and traits. 🌵
Mirage rarity also assigns individual scores to each trait within the collection which allows users to see how total score is calculate.
No surprises here but rarer traits get higher score
- Rank: Helps with understanding the rank
- Oasis x # 22 : Understand the collection id number of particular NFT
- Rarity Score: Combined scores gathered from all the different traits
- Traits: List of all traits part of the art along with scores.
- Similar Button: Super quick and efficient way to find other nft’s in the collection who might have similar clubbing of traits.
- Trade Button: A button to take you directly to Metamirror website, more websites and direct links will soon be launched.
How Rarity score is exactly calculated ?
Before digging dip into the specific formulae we use to calculate rarity, it is vital to understand what rarity rankings fundamentally aim to do. Imagine, there are group of 3 friends who have now a task to make the best use of his money by choosing the most unique fruit. Now to a naked eye, just for 2 fruits we can see how many different types of purchases can be done -
Even without looking at a mathematical model, we can easily guess 1 blue orange is the rarest ( as there are only 5 oranges but 6 apples). This logic of understanding all the traits, assigning them an articulate value/weightage which aligns with the total traits helps us calculate rarity of any collection.
[Rarity Score for a Trait Value] = 1 / ([Number of Items with that Trait Value] / [Total Number of Items in Collection])
The total Rarity Score for an NFT is the sum of the Rarity Score of all of it’s trait values. These is one of the most proven and accurate ways to calculate rarity and allows the collection to easily split the total collection into layered buckets of ranking.
Note: Rarity is not Everything
Art is and has always been subjective, and there are multiple ways NFT and art collectors reckon a collections worth.
1) Use ART as a pure barometer, whatever they feel has value is valuable. We have seen over a period of time both in Art (nft) and traditional art that certain traits and art pieces are loved by everyone irrespective of quantity or quality.
2) Rarity Analytics: Each nft projects build unique arts which corresponds to different types of beautiful traits. However, each traits also have total traits allocated to it. This allows maths/tools to analytically analyze a collection into different tiers of rarity. A simple way to understand is supply and demand, within a collection the traits which have lower number are always ranked higher. This has been by far the biggest contributor in how NFT collectors often decide what to buy.
4) Community Led Art: Lot of collections are also fan favorite and over the time have build strong appeal for aesthetics, and it follows the same directive of art and it’s interpretation is always subjective.
We at Mirage lab work hard to make your journey of Oasis NFT as easy and fulfilling as possible.