So you're interested in buying your first NFT. Floor price is something you should understand before taking the leap. Learn more ➡️
The floor price is the lowest-priced NFT within an NFT project.
If you’ve ever been surrounded by NFT enthusiasts, you’ll likely hear the term “floor price” being thrown around in the conversation. While tangible assets like artworks or physical collectibles like playing cards have defined values, collectors and investors looking to buy NFTs may have a hard time deciding whether an NFT is worth their money. This is where NFT metrics, such as floor price, come into play.
In the NFT space, sweeping the floor can be applied to both project owners and buyers. If project owners sweep the floor, they purchase all of their NFTs at the floor price. When buyers sweep the floor, it either means they bought all the available NFTs in the project or many of them. Both of these indicate a potential manipulation of the floor price.While buying the floor may be a solid starter strategy for newcomers joining an NFT project, the floor price can be manipulated.
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