How does the rarity rank of NFTs affect their value in the digital currency space?

1 answers

• Dec 17, 2021 · 3 years ago
  The rarity rank of NFTs has a significant impact on their value in the digital currency space. As an NFT becomes rarer, its value tends to increase. Rarity is determined by factors such as the scarcity of the NFT, the uniqueness of its attributes, and the demand from collectors. When an NFT is considered rare, it becomes more desirable and sought after, leading to higher prices in the market. This is because collectors are willing to pay a premium for something that is unique and exclusive. The rarity rank of NFTs creates a sense of scarcity and exclusivity, driving up their market value.
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