What is rarity, and when does it make sense to mint an NFT?

There are NFT collections that get released and you can do what’s called “minting”.

Minting means buying the NFT directly from the creator on their website, not on the secondary market like OpenSea.

You can mint these specific NFTs and, there’s different variations making some rarer than others.

Within a specific NFT collection, there’s a rarity score, which takes in all of those types of traits, and it gives it a specific rarity score.

Now, the rarer the NFT, the higher the resale price on the marketplace.

So what’s the significance of rarity?

Well, think of it like basketball cards or Pokemon cards, or other collectibles. Rare ones sell for a lot more.

To get started, first go to a website called “Metamask”. Metamask is a browser extension, and this is going to be your wallet that you’re going to use to purchase NFTs.

It’s also important we talk about the floor price. The floor price is the lowest possible price that these are selling for right now. A real opportunity is to mint directly from the creator for less than the floor price, then flip the NFT for floor price or higher. Or just hold and watch it (potentially) appreciate.