What are the key factors that determine the floor price of NFTs in the digital currency space?

1 answers

• Subha SarkarNov 03, 2023 · 2 years ago
  At BYDFi, we believe that the floor price of NFTs in the digital currency space is primarily determined by supply and demand dynamics. When the supply of a particular NFT is limited and there is high demand from collectors and investors, the floor price tends to be higher. Additionally, factors such as the uniqueness and quality of the digital artwork, the reputation of the artist or creator, and market trends also play a role in determining the floor price. It's important for collectors and investors to carefully evaluate these factors before making purchasing decisions.
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