What is floor price?

The floor price means the lowest price of the NFT within a collection. This is one of the most popular metrics people use to assess the project.

The holder who owns an NFT can set up floor prices. The more popular projects, such as RustCupGame, have the higher floor price.

The cheapest RustCupGame NFTs

If the project floor price rapidly drops, it means interest in the project has begun to lose, and people want to sell their NFT as quickly as possible to save their money.

The people who own an NFT within a project set up floor prices — the more popular an NFT project gets, the higher the floor price. A sudden reduction in a project's floor price may suggest that an NFT project is losing traction.

What is "Sweep the floor”?

This phrase means market participants have bought up a part of the NFT at the floor price. Both the creators of the project and average users can sweep the floor. Sometimes project owners can sweep the floor price to make an illusion of the market activity.