Most people ask what is 1 of 1 NFT art or what is 1/1 NFT art?. So in this post, I will try to answer your all questions about 1 of 1 NFT art that what is 1 of 1 NFT Art? Why these 1 on 1 NFTs are so valuable, and how to find these 1 of 1 NFTs. If you are an NFTs collector this guide. You must know about 1 of 1 NFTs. To understand these all details let’s first discuss what is 1 of 1 NFT art?
What is 1 of 1 NFT art?
1 of 1 NFT art is also called one-in-a-kind NFT art because there is no other non-fungible token that exists other than this in the NFT collection. Due to its limited supply and its rarity, it is very difficult to find.
Every NFT is unique and has its own mint number so when an NFT is already unique why we the mint number required. If you don’t know what is the mint number, the mint number is the number of NFT in the minting que of one NFTs collection which is about to mint.
Let’s suppose an NFT collection has 10 unique NFTs and so which NFT will be minted first. It will have 1 mint number in the collection and which goes second it will have 2 mint number so that’s how it works. Mintnumber shows the edition of NFT in the collection and plays a vital role to compare two similar-looking NFTs. Each collection has multiple NFTs and but they only have one NFT which is 1/10, or 1/100.
What makes 1 on 1 NFT so valuable?
This is the most important question to collectors what makes 1 of 1 NFT so valuable. The value of 1 of 1 NFT art can be determined by its demand and how much someone is willing to pay for it. Most of the collectors think that 1 of 1 NFT has win chances of 50% and also 50% for losing. But our question was what makes these 1 of NFT art so valuable. The answer is “rarity”.
These NFTs are the legendary and top kind of NFTs so the chances of owning these NFTs are very less.
Example: If an NFT collection has 100 NFTs and we all know every NFT is unique. But the rarest NFT will be 1/100 having mint number 1 and 2nd rarest NFT will be the mint number 2 and the list goes on.
So the value can be determined by this information and you can check this information easily. If this 1 of 1 NFT is launched by a celebrity it will have more value.
How many 1 of 1 NFTs exist in a collection?
Each NFT collection has very few 1 of 1 kinds of NFTs like one or two per thousand. Or if an NFTs collection is hand dawn and every NFT doesn’t relate to each other so that collection can have each NFT 1 of 1 because every mint number is different from others.
Most NFTs projects have a tier system for NFTs so users can easily identify rare NFTs. I have listed below some tiers.
- 1/1s
- Super Rare
- Elite
- Ultra Rare
- Legendary
- Limited Edition
1 of 1 is super rare NFTs due to having rare traits and attributes. Companies use these types of NFT to create hype and urgency so people start investing in them.
1 of 1 NFT – Example:
Painting – 1 of 1 NFTs:
As I have discussed above art is subjective and if it comes to painting it is the most appropriate example. So paintings are unique and they 1 of 1 piece that’s why they are so valuable. If you buy this 1 of 1 NFT, I will come with the option to redeem its physical painting.
Photographs – 1 of 1 NFTs:
If you have listened to the name logan paul 99 original NFTs. So these 99 NFTs are original photographs and every photograph is totally different from another. So these are 99 NFTs are 1 of 1 super rare NFTs. logan paul captured these photographs with a polaroid camera on 99 different days. These NFTs are so valuable.
Sports cards – 1 of 1 NFTs:
Like NBA, 30 teams have 30, 1 of 1 exclusive NFT. VIP holders of the NBA All-Star Pass receive an exclusive 1/1 NFT that can be auctioned for as much as $40K.
How to Find 1 of 1 NFTs on Ethereum?
- Open your opensea account
- Find the collection in which you want to find 1 of 1 NFT
- Click on this button to “view on etherscan”.
- After Clicking on this button you will be redirected to etherscan scan screen and click on the project name in the front of “token tracker”.
- Now you will be redirected to this page. Scroll down and you will find this search button. Click on this search button and search “1”.
- After searching for one go to the inventory tab as I did. YOu will find the mint number 1 NFT.
- Click on the NFT. You will see this screen and click on encircled “view on opensea” button to check the price of NFT.
You can also search for “0” by using same method. So this is how you can find the 1 of 1 NFT easily.
Understanding Ethereum and NFT Marketplaces
Before you start searching for 1 of 1 NFTs on Ethereum, you need to understand how the Ethereum blockchain and NFT marketplaces work. Ethereum is a decentralized blockchain platform that allows developers to create and deploy decentralized applications, including NFTs. NFT marketplaces are platforms where creators can list their NFTs for sale, and buyers can purchase them using Ethereum cryptocurrency.
Some of the popular NFT marketplaces on Ethereum are OpenSea, Rarible, SuperRare, and Nifty Gateway. Each of these marketplaces has its own unique features, user interface, and search options. You should explore these marketplaces and understand how they work to find the best 1 of 1 NFTs.
Tips for Finding 1 of 1 NFTs on Ethereum
Here are some tips that can help you find 1 of 1 NFTs on Ethereum:
- Use advanced search filters: Most NFT marketplaces have advanced search filters that allow you to filter NFTs based on specific criteria, such as rarity, price, creator, and category. Use these filters to narrow down your search and find 1 of 1 NFTs.
- Follow creators and collectors: Many NFT creators and collectors have a social media presence, where they showcase their latest NFT collections and updates. Follow them on social media platforms like Twitter, Discord, and Instagram to stay updated on their latest releases.
- Check out featured collections: NFT marketplaces often feature collections curated by experts and influencers. These collections can help you discover unique and rare 1 of 1 NFTs.
- Participate in auctions: Some NFTs are sold through auctions, where buyers bid on the NFT, and the highest bidder wins. Participating in these auctions can help you get your hands on 1 of 1 NFTs that are not available for sale otherwise.
Tools and Resources for Identifying and Buying 1 of 1 NFTs
There are several tools and resources that can help you identify and buy 1 of 1 NFTs on Ethereum:
- NFT trackers: NFT trackers like NonFungible and DappRadar provide real-time data on NFT sales and transactions on Ethereum. You can use these trackers to identify the most popular and valuable 1 of 1 NFTs.
- Crypto wallets: You need a crypto wallet to buy NFTs on Ethereum. Popular crypto wallets like MetaMask, Coinbase Wallet, and MyEtherWallet allow you to store and manage your Ethereum cryptocurrency and buy NFTs from various marketplaces.
- NFT marketplaces: As mentioned earlier, there are several NFT marketplaces on Ethereum, such as OpenSea, Rarible, SuperRare, and Nifty Gateway. These marketplaces allow you to browse and buy 1 of 1 NFTs from different creators.
How to check the value of 1 of 1 NFTs:
Art is not unique, ugly, or beautiful, art is subjective. While different NFTs project claims that they have 1 of 1 NFT so it’s very hard to determine its rarity and its value. Therefore different rarity factors are considered to an estimated value of 1 of 1 NFT.
We can check these below points to check the price of a 1 of 1 NFT:
- What is the rarity tier?
- Check mint number
- Check rarity score
- Check floor price
- Check supply
The collection size is also very important to check because it helps to determine rarity and value. If some NFTs are not 1 of 1, but they are still valuable because of their small collection size let’s suppose a collection has 100 NFTs and your mint number is 90. So it is still more valuable after the sale.
Risks and Considerations
While owning 1 of 1 NFTs can be a unique and rewarding experience, it’s important to be aware of the risks and considerations associated with buying and owning NFTs. Here are some factors to keep in mind:
- Volatility of the NFT Market
The value of NFTs can fluctuate greatly, depending on market demand and other factors. While some NFTs may appreciate in value over time, others may decrease in value or become worthless. Therefore, it’s important to consider the potential risks and rewards before investing in an NFT.
- Scams and Fraud
Unfortunately, the NFT market is not immune to scams and fraud. Some scammers may create fake NFTs or falsely claim ownership of existing NFTs. To avoid falling victim to scams, it’s important to do your research and use reputable marketplaces and wallets.
- Lack of Regulation
The NFT market is largely unregulated, which means that there are few legal protections for NFT buyers and sellers. If you encounter a problem with an NFT transaction, it may be difficult or impossible to seek legal recourse.
- Environmental Impact
NFTs are created and traded using blockchain technology, which requires a significant amount of energy. This energy consumption can have a negative impact on the environment. As such, some individuals and organizations are critical of the environmental impact of the NFT market.
- Considerations before Purchasing an NFT
Before buying an NFT, consider the following:
- Research the NFT and the creator to ensure that it’s legitimate and valuable.
- Only use reputable marketplaces and wallets to buy and store your NFTs.
- Consider the potential risks and rewards of investing in an NFT and ensure that you’re comfortable with the level of risk.
- Be prepared for the possibility that the value of the NFT may fluctuate or decrease over time.
- Consider the environmental impact of the NFT market and whether you’re comfortable participating in it.
Future of 1 of 1 NFTs
As the NFT market continues to grow and evolve, there are many exciting possibilities for the future of 1 of 1 NFTs. Here are some trends and innovations to look out for:
New Use Cases and Applications
While NFTs are currently most commonly used for art and collectibles, there are many other potential use cases and applications for NFTs. For example, NFTs could be used for virtual real estate, digital fashion, and even in-game items in video games.
Virtual Reality and Augmented Reality
As virtual and augmented reality technologies continue to improve, there are many possibilities for creating immersive NFT experiences. For example, NFTs could be used to create virtual art galleries, concerts, and other events that can be experienced from anywhere in the world.
Integration with DeFi
Decentralized finance (DeFi) is an emerging trend in the blockchain space that involves using decentralized applications to create financial products and services. There is potential for NFTs to be integrated with DeFi, for example by using NFTs as collateral for loans or as part of a decentralized exchange.
Social Impact
Some NFT creators and marketplaces are exploring ways to use NFTs for social impact and charitable causes. For example, some NFTs are being sold to raise funds for environmental or humanitarian causes, and some NFT marketplaces are donating a portion of their fees to charity.
Ethical Considerations
As the NFT market grows, there are increasing concerns around the ethical implications of NFTs. For example, some NFTs may be culturally insensitive or appropriative, and there are concerns around the environmental impact of the energy required to create and trade NFTs. It’s important for the NFT community to address these ethical considerations and ensure that the market is sustainable and inclusive.
Final thoughts: Is it worth buying a 1 of 1 NFT?
Yes, you definitely get a plus point when you buy a 1 of 1 NFT. But it requires a lot of research and hard work. Without patience, it is impossible because you must know when a 1 of 1 NFT of a specific collection will get a price hike. It is easy to buy these by NFT packs or most of them you can buy through the auctions. I hope you enjoyed this guide and tutorial about what is 1 of 1 NFTs. If you have any queries or suggestions on this do not hesitate to type a comment. I always love to listen to and reply to our readers.
Related: What Makes These Ugly NFTs So Valuable to Collectors
