1/1 NFT art is a unique, one-of-a-kind digital collectible that only the artwork itself exists. Due to its uniqueness and the restricted availability of comparable items, it might be challenging to find them.
One-of-one NFTs, commonly referred to as “one-of-one NFTs,” occur when just one non-fungible token is offered for a certain asset depending on the asset’s mint number.
When there are two or more non-fungible tokens with identical designs or content, they may be distinguished by their mint number, which serves as a representation of their edition.
While non-fungible tokens all remain unique, each has a mint number to show which edition within the collection it is and how different they can be. Multiple NFTs become a collection, and a collection can have multiple editions; however, there can only be 1/1 or 1/10 or 1/100.
Understanding how much a 1-of-1 NFT is worth comes down to knowing what someone is willing to pay for it and how much demand there is in the market.
These NFTs are typically among the ‘Legendary’ or ‘Top’ rarity tier when nft projects launch, making the chances of owning them less than 0.01% in most cases.
However, some collectors feel 1/1 means having a 50% chance of winning or a 50% chance of losing based on probability. Either way, a 1-of-1 non-fungible token remains highly desirable similar to other collectibles.
Every non-fungible token comes with a mint number which makes it unique and depending on how close that number is to the number 1, the rarer the non-fungible token becomes over time.
For example, if an NFT collection has 100 pieces and you have mint number 2, that’s far more valuable than mint number 10. However, if you have mint number 1, it’s the rarest NFT available out of the 100 pieces.
Lastly, this technology allows you to have background data on who previously owned an nft allows you to compare who owns the actual image and who screenshotted it.
It instantly makes tracking these digital assets’ lifelong price and value easier. Also, if these assets were held by a celebrity or someone well-known, it could increase the value of the 1/1 NFT even more.
Each collection has a different amount of 1/1 tokens available. Sometimes, every collection piece is a 1/1 because its mint number is different and hand-drawn.
However, the majority of NFT projects have only a few.
Per nft project, it’s common for there to be one or two super rare 1/1 NFTs for every thousand. However, it’s up to the nft project owner to decide how many ones of one NFTs they’d like to create in the collection.
Most nft collections have a tier system that allows users to identify when an nft is special.
Here are a few names of what the tiers can be:
- Super Rare
- Ultra Rare
- Limited Edition
1 of 1 NFTs are limited edition art pieces and stand out from the rest due to having rare different traits or attributes.