'What formula can I use to in my NFT pricing model that will increase the price as rarity becomes less?
I am building a buying tool to purchase NFTs from a population of 70k NFTs. Each NFT in the population has a rarity value assigned to it that ranges from 1 (most common) to almost zero (most rare). I need a formula that will price each of the NFTs at some percentage over a baseline price depending on the rarity. Obviously, there are a lot of ways to do this. It could be a straight line or logarithmic. Any suggestions?
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