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Thanks, but no thanks. We appreciate that you thought of this though.
The base formula is simple: we sum points for all the traits with points for attribute count. Points are awarded by the formula: 1 / rarity %. In trait normalized version points are awarded by the formula: 1 / (count of occurrences for the attribute / count of most popular attribute in a trait). On top of the base formula we are adding some weights (awarding extra points or giving penalty) for certain attributes if that's requested by the NFT authors. We also have some experimental boosts, such as extra points for matching sets.
The simplest explanation would be the following: Let's imagine we have a Trait A with 3 options with the distribution of 50, 40, 10 and a Trait B with the following distribution: 10, 10, 10, 10, 10, 10, 10, 10, 20. During trait normalization, 10% in A gets a higher score than 10% in B because it's more impressive to get 10 in A than to get 10 in B. In B almost everyone got 10. This example is a bit exaggerated, but it illustrates the point.
Statistical rarity is one of methods for calculating the rarity of an NFT. To get the total statistical rarity first we find out how unique is each trait (it's percentage). Then we multiply rarity for all traits. Attribute count gets ignored. The smaller is the final percentage, the rarer is considered the item. Even though this method is used in several community spreadsheets to calculate rarity, it's not perfect. Just like any other method of calculating rarity.
We do not have the clear answer. That's why we are not enforcing one specific way to calculate rarity. NFT collections differ one from another. We can't enforce the same constraints on all NFTs. For some base formula is the best fit, for some maybe Statistical rarity, but for some it could be Trait normalized base formula. In some other situations the teams vision with weights (penalties and boosts, matching sets etc.) makes the most sense.
That's a bit harsh. All rankings are biased in one way or another. We represent just one way of measuring rarity. There are many other ways to do the same thing. It's up to the community of each project to decide which type of ranking they like the best. One more thing to keep in mind - rarity does not always represent desirability, esthetics etc.
Sure. We are always happy to accommodate any team's vision. In fact many of our rankings are tuned in close cooperation with NFT projects (even though at this time warning messages might say otherwise).
Most likely not. You should not make your purchase decisions solely on ranking - no matter if it is our ranking or one created by someone else.
Not yet. But we have started to work on it.
Hopefully soon. A small preview can be seen here.
HowRare.is was founded by SOLBigBrain.