OutRank is a working group with a vision to develop correct rarity metrics for all types of NFTs, making these easily accessible and widely available to improve the efficiency of NFT markets.
There appear to be many different metrics for measuring the rarity of a bored ape or a cryptopunk, or for a PFP in the public domain, but in fact there are only four – and all of them are incorrect! These nonsensical methods are pushed by multiple platforms that mislead investors about the true value of an NFT.
To showcase this Outrank has created an academic research paper highlighting the issue, a GitHub repository with mathematical code to implement our analytical approach in Python and Rust, as well as a fully on-chain rarity calculator.
This fully on-chain rarity calculator would not be achieved if it wasn’t for ICPs canister hosting, allowing all aspects of the calculator to be hosted on-chain.
Outrank plans to continue spreading the message of rarity and its effects on valuation across the blockchain ecosystems via direct interaction with communities.
Outrank is an open-source free resource for education.
The documentation can be accessed here: www.outrank.io
The code can be accessed here: OutRankNFT · GitHub