NFT Smash

NFT Smash is a market-centric and a machine learning-enabled NFT rarity meter: the greater the rarity of an NFT within a collection, the greater the value in TRX.

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Inspiration

People trade thousands of NFTs daily. The NFT prices are expressed in cryptocurrency, and it is volatile. As the interest in the NFTs changes, their prices vary with time too. Is there an immanent meter to order NFTs by their value? Within a single collection, a vector of features – traits – characterizes NFT. People construct rarity meters based on the assumed value of the trait vector rarity. But this process lacks formalism. In this project, we formulate the optimal rarity meter problem and provide a pipeline for optimal rarity meter design. A proposed tournament score function is an essential part of the construction.

What it does

We computed the rarity meter for the BAYC and MAYC NFT collections (the hottest collection by trade volume): the greater the rarity of an NFT within a collection, the greater the value in TRX, based on the historical data. You can check the rarity by NFT ID. We also prepared an NFT Smash game for you to examine how well you understand the NFT market! Try it now or read more in our Tron DAO forum post!

How we built it

  1. Collected NFT traits, trades, and arts using TRON API and Big Query
  2. Designed our rarity metric function;
  3. Computed preliminary rarities;
  4. Fitted the obtained rarity scores on trade data;
  5. Developed web application consisting of:
    a. Search NFT’s popularity based on IDs
    b. A game to demonstrate the scores.

Accomplishments that we're proud of

  1. Custom rarity metric function:
    a. Distinguishes between the rarity and the uniqueness;
    b. Captures the community preferences.
  2. Gamified metric visualization;
  3. Automatic parsing pipeline for an arbitrary collection on the TRON blockchain.

Challenges we ran into

  1. Absence of documentation on TRC-721 metadata storage;
  2. Limitation on the number of returned requests in TRON API;
  3. Time-out requests by the BitTorrent file storage system for some specific NFTs which used BTFS

What we learned

  1. New ways to parse the collections;
  2. Explored new web-development workflows based on goals

What's next for NFT Smash

  1. Support more collections;
  2. Support even more collections;
  3. Support all the collections!
  4. Weekly recalculation of the rarity scores based on the weekly trade data;
  5. Integration of the rarity design in the marketplaces.

Results:

How do we stand differently this time?

In our previous project, we provided a rarity meter for the Kanaria NFT collection in the Kusama blockchain. And the main differences to it are:

  1. The game for the result presentation is completely new.
  2. Formulate a mathematical problem for optimal rarity meters and provide a pipeline to solve it. Link Here
  3. Tron NFT collections usage is completely new. Now we use BAYC and MAYC on Tron, but previously it was Kanaria on Kusama.
  4. A new application is created with a new design and theme. Also with a GAME this time. 🙂

This makes our current project original and new, as we prepared the project exclusively for TRON Grand Hackathon - Season 3, keeping all the rules and regulations in mind.

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