Question 1

What are NFT Collection Floor Prices?

Accepted Answer

A floor price is the minimum current listing price for an NFT within a specific collection, usually marketplace-specific. It acts as a barometer of the base value of an NFT in that collection, reflecting the lowest market valuation and assisting buyers and sellers in gauging entry points and pricing strategies.

Question 2

How does SimpleHash identify different marketplaces for floor prices?

Accepted Answer

SimpleHash uses unique marketplace identifiers to differentiate floor price data sources, ensuring clarity and accuracy in the presentation of floor values across various platforms. Floor prices from difference marketplaces are provided in a convenient array.

Question 3

What does the floor value in SimpleHash's API represent?

Accepted Answer

The floor value in SimpleHash's API represents the numerical value of the current lowest listing price for an NFT within a collection, offering immediate insight into the collection's base market valuation.

Question 4

How does SimpleHash provide details on payment tokens for floor prices?

Accepted Answer

SimpleHash includes detailed information about the cryptocurrency used for floor price listings, such as token identifiers, names, symbols, and contract addresses. This helps users understand the standard currency used across different chains.

Question 5

Does SimpleHash offer USD conversions for floor prices?

Accepted Answer

Yes, SimpleHash provides the equivalent value of the floor price in USD cents, offering a consistent benchmark for valuation across various currencies.

Question 6

How does SimpleHash handle trait-level floor prices?

Accepted Answer

SimpleHash offers current floor prices for specific traits within a collection, providing even more detailed insights into the valuation of individual NFT attributes.

Question 7

What are the advantages of SimpleHash's real-time updates for floor prices?

Accepted Answer

SimpleHash provides ongoing real-time updates of floor prices in seconds, ensuring that the data remains relevant and up-to-date, avoiding stale information.

Question 8

How does SimpleHash support sub-collections in floor pricing?

Accepted Answer

SimpleHash ensures accurate attribution of floor prices at the sub-collection level, rather than just the overall contract. This helps in providing precise and specific data for different segments within a collection.