Dogechain Explains - NFT Floor Price.
02 Jan 2023, 18:54
Dogechain Explains - NFT Floor Price
🔎 When navigating through the rich #Dogechain NFT ecosystem, you will inevitably come across the term “NFT floor price”.
This term refers to the lowest price a seller wants for an NFT in any given collection. ⬇️
📈 The floor price is also a good starting point for understanding the popularity of an NFT collection and the token's value over time.
For example, a project whose floor price starts decreasing shows that interest in that project is falling. 🤯
💸 Usually, NFTs with rare traits will sell for prices much higher than the floor price.
Knowing the floor price allows users to hunt for gems and find rare pieces that are selling for cheap. 💎
🧹 Finally, it’s worth noting that one can “sweep the floor” and purchase multiple NFTs in a collection at its floor price.
This can allow the buyer to set a new floor, by listing the swiped NFTs at a higher price.
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