NFT Glossary Deep Dive: Floor
Ellen Britt for CNT #NFT When you see the term “floor” as in the floor price of a collection, it means this is the lowest price for which you can purchase an NFT from that collection on the secondary market. A price floor is actually a term that was borrowed from the commodities market. In that case, a price floor is referring to the price controls that are set by various groups or governments to establish the minimum amount a seller can charge for a commodity, good, or service. Floor prices are set up to discourage a race to the…