Why Considering the NFT Floor Price is Important?
Adekunle Joshua
The floor price acts as a baseline for determining the value of an NFT collection
It reflects the minimum price at which each piece from that collection is currently available in the market
The floor price also helps gauge market trends
Rising floor prices indicate increased demand, while a drop signals a shift in sentiment or oversupply
The NFT floor price is always correlated with the rarity and scarcity of NFTs within a collection
For crypto investors, understanding the NFT floor price is vital for making informed decisions.