OpenSea gave rarity ranks to NFTs, nonfungible tokens, to help collectors decide on whether to purchase NFTs, but it failed. Some from the NFT community argued that ranking NFTs might do more harm than good.
In a tweet, an NFT investor pointed out several issues in the OpenRarity feature, which OpenSea implemented as the new rarity ranking protocol. Spencer, the NFT investor, believes that putting rank in the NFT listing with no mention of a rarity anywhere could be misleading.
He took the Moonbirds NFT collection as an example and argued that since it enabled the OpenRarity ranking protocol, it destroyed its market-driven rarity structure. Spencer also called out the creator of Moonbird, Kevin Rose, and advised him to turn off the OpenRarity ranking function for the collection.
After some days of this feedback from the NFT investor, OpenSea, the NFT marketplace made some changes to its ranking protocol system. After some changes from OpenSea, the NFT marketplace now also shows a rarity rank instead of just the rank. It also added a trait count within the ranking methodology and a way to sort NFTs with unique attributes that elevate their rank.
After doing these changes, OpenSea announced on Twitter that it would enable the rarity ranking feature to eligible collections across all chains from the 25th of October. It has also been receiving consistent feedback in which people asked how they could get access. In its new update announcement, OpenSea also assured that it had solved the access feature and it would add this feature to the update.
The first ranking system, which failed to work perfectly, was launched on the 21st of September, and their vision was to provide a reliable rarity ranking for collectors. Now, after a month, it announced to made changes to its ranking protocol.
