NFT Floor Price Inquiry NFT PRICE FLOOR
What is NFT?
NFT is a crypto token - a unit of data stored in the blockchain - that represents a digital asset that is unique and therefore cannot be exchanged for another equivalent. The acronym NFT stands forNon-Fungible Token. In economics, theSubstitutableCommodities, like legal tender, are defined more by their value than by their unique attributes. a $10 bill is interchangeable with any $10 bill, one may be more worn than the other, but for all practical purposes they represent the same thing. This does not happen with other items with unique properties such as furniture, real estate, artwork, or collectibles. In such items, we say they areIrreplaceable NFT is the perfect tool to tokenize a variety of unique items (e.g. digital collectibles, crypto artworks, lands in the virtual world, video game items and wearables, and even real-world goods) - representing ownership on the blockchain - such as real estate, traditional art, etc.
Why is the concept of "floor price" important to NFT?
Unlike fungible tokens such as ETH or BTC, NFT is an irreplaceable crypto token that represents a commodity with unique properties, so each commodity hasDifferent prices. Digital collectibles, generative art decline and other forms of crypto art tend to converge - from a price discovery perspective - in one common denominator - theMinimum Asking Price--what we callLower Price Limit. At the NFT price floor, we believe the price floor concept will become increasingly relevant to the irreplaceable token space, as revealed by the interesting initiative to connect the digital collectibles/crypto art world to DeFi. Predictably, the provision of AMM liquidity services through ERC20 index tokens, as well as lending services that allow the use of NFT as collateral, will also drive the price floor concept in the industry. Clearly, the usefulness of the floor price concept is closely tied to the level of granularity provided by the data dropped by each collection or crypto art. It is very clear that for certain NFTs with rich collections and subsets, presenting a general price floor is less useful than for those that are more homogeneous. This is because.
What is the bottom cover?
As we have already mentioned, the concept of a "reference price" applied to a group of NFTs - e.g. digital collectibles, crypto artwork - is controversial, as each token represents an asset with unique properties, and therefore a different price. Nevertheless, for all emerging financial applications that aim to connect the NFT space to the DeFi ecosystem, the minimum current asking price - the price floor - can be a very useful metric. If we accept the possibility of using the price floor as a reference for the NFT set or subset, then the next logical step is to obtain the market value - as the result of multiplying the stated price by the total supply. Given that the prices we use as inputs are price floors, we decided to call this particular type of market capitalization a floor.
We, the NFT Price Floor team, are a group of anonymous enthusiasts of digital collectibles, crypto art, games and virtual worlds. We believe that NFT has tremendous potential to empower participants in the new creator economy and revolutionize the distribution and monetization of all types of digital content. We believe that it is crucial to develop good metrics for the NFT market and since we were not satisfied with any of the existing options, we decided to create our own website ?
NFT Market Data Visualization Professional and Multiple NFT Market Data Metrics NFTGO collects and visualizes real-time data on the volume of NFT assets traded across the network, specifically to meet the needs of users. Users can use the NFTGO platform to gain a comprehensive understanding of NFT market trends and optimize their NFT purchase and investment decisions.