floor price is bullshit ✨

• 2 min read
floor price is bullshit ✨

Despite being the most popular yardstick for NFT success, floor price is a bad metric.

Perception: My PFP is worth at least as much as the listing floor price.

Reality: The real floor, the price buyers are willing to buy at, is much lower than the listing floor.

How much lower? Here are some examples 👇

1/ In the BAYC collection, the median difference between the listing floor and the real floor is a 14% drop.

Here I define the real floor as the bottom 5% percentile of sales made that day. The lowest point where sales are actually taking place.

If you ever wanted to sell a common BAYC instantly, the right strategy would usually be to ask for 14% less than the listing floor.

On the flipside, if you're a buyer you could spam bids at that level and get a better price than if you instabought an NFT on the listing floor.

2/ In the Moonbirds collection, the real floor also sits ~14% below the listing floor on median.

3/ In the Cool Cats collection, the real floor sits ~17% below the listing floor on median.

Listing floor is the lowest price holders are hoping to sell at. The minimum value of your NFT is usually lower than that.

Base value is the price where you can actually get liquidity on the NFT if you wanted to. Watch sales data, not floor.

Here is a dashboard I made to help you track real floor using the fantastic dataset from Reservoir

Collection Listings vs Sales
Blockchain ecosystem analytics by and for the community. Explore and share data from Ethereum, xDai, Polygon, Optimism, BSC and Solana for free.


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