Non-fungible tokens, or NFTs, have taken the digital art world by storm. But there's more to these unique digital assets than just the artwork itself. NFTs often have characteristics, or 'traits', that make them truly one-of-a-kind. In this short article we explain what traits are and why these matter when you own an NFT.
🎭 What are NFT Traits?
Traits, also known as attributes, are the unique characteristics that differentiate one NFT from another. These traits are recorded on the blockchain and are part of what makes each NFT unique and potentially more valuable.
Think of traits as the ingredients that make up an NFT. Just like a chef combines different ingredients to create a unique dish, an artist combines various traits to create a unique NFT. Traits can be anything from color, background, clothing, or accessories, to special features like glowing eyes or animated elements. The combination of how unique its traits are results in the overall Rarity of each NFT.
🌟 Why is Rarity Important?
In the NFT universe, rarity plays a huge role in determining an NFT's value. Typically, the rarer the trait, the more valuable the NFT. Rarity refers to how often a particular trait appears across a collection. For instance, if an NFT collection has 1,000 pieces and only 10 of them have 'golden wings' as a trait, then 'golden wings' is a rare trait.
Keep in mind that rarity doesn't always equate to value, but it often plays a big part. The value of an NFT is ultimately determined by what someone is willing to pay for it.
🔎 How Do I Know My NFT's Traits and Rarity?
Zelus Wallet breaks down the traits of your NFT and shows you how many other NFTs in the collection share those traits (Rarity). This is represented as a percentage. The combination of all traits and rarity is what makes that NFT more or less unique.
