NFT floor price trackers sort collections according to the price offered in NFT marketplaces. The finest trackers will provide details of the protocol the collection is based on, the current NFT volume, user base, sales figures, and information on recent collection activities and NFT market evaluations.

NFT floor pricing is one of the first things most of us are told to consider when we enter the NFT market in search of our first NFT purchase.

Collectors and investors wishing to purchase NFTs may have difficulty determining whether an NFT is worth their money, in contrast to the precise value of tangible assets like artworks or physical collectables like playing cards. 

As a result, NFT metrics, such as floor pricing, become relevant in this context.

What is the NFT floor price?

The NFT floor price is the least amount of money required to acquire an NFT or become a project holder. The initial mint price of an NFT  is established by the creator or dev team of an NFT project. 

The floor price changes as consumers purchase the cheapest NFTs out of a collection—when the cheapest NFTs are purchased, floor prices rise; when new listings with a set price below the current floor price are posted, floor prices fall. 

To generate a profit, individuals typically attempt to list their NFTs on the secondary market at a higher floor price than their initial issuance. However, some individuals become impatient and list their NFT below the initial mint price to increase liquidity.

For instance, if buyers observe many NFTs trading at the floor price, they could “sweep the floor” by purchasing all of these NFTs simultaneously. This presents an opportunity for NFT traders, who can raise the floor price by relisting at a higher price.

How to check the floor price of an NFT?

NFT floor price trackers make it simple to find the floor price of a collection. NFT collections, floor prices, and other necessary metrics are displayed on these tools.

Purchasing an NFT at the floor price is considered a solid entrance strategy since it offers a simple way for new participants to join an NFT project.

How to analyze the floor price of an NFT?

When considering whether or not to invest in a collection or project, the NFT floor price is one of the fundamental crypto metrics you should investigate. 

First, let’s have an understanding of the process. Keep in mind that the floor price of an NFT always refers to the lowest price rather than the average price. 

For example, suppose you post the NFT for sale at 0.2 ETH, but everyone else who owns NFTs from the same collection lists it at 0.4 ETH or higher; in such a case, the floor price will be 0.2 ETH. Therefore, it is not an average; it is the least amount of money required to purchase one NFT from that particular collection.

There are several NFT floor price trackers—here’s a list of our favourites:

1. OpenSea

OpenSea is the most popular NFT trading platform for selling, buying, and trading NFTs. But, it’s not just for seeing digital art. 

OpenSea is a good NFT tool for tracking and analyzing digital art investments—it gives you monitoring and analysis capabilities, thus making the process of purchasing NFTs a bit easier. 

OpenSea has established a data-and NFT-rich environment. Finding the best new NFTs is easy because everything is in one spot. As the largest NFT marketplace, OpenSea makes it easy to track NFTs. 

This platform’s best (and most prominent) feature is that it lists most NFT collections—you can think of it as the Amazon or Walmart of NFTs. New NFT projects want to get on OpenSea for the best initial exposure. 

Another benefit? Tracking functions and the NFT marketplace are on one page. Also, you can opt to see an NFT’s real-time activity and ranking by accessing the “Stats” page. OpenSea’s tracking is completely free, and it supports Klaytn, Polygon, and Ethereum-based NFTs.

2. BitDegree

On the brim, BitDegree reveals and analyzes NFT markets—but it goes further than that: you can browse NFT data to obtain insights, use numerous metrics to analyze NFTs, and establish a portfolio to track NFTs.

In addition, BitDegree tracks 357 NFT collections from 3 protocols and 58 NFT marketplaces. This tool’s tracking is perfect for helping you make timely judgments from a broad range of NFTs.

You can also gain deeper information from whichever collection you have your eye on— just use the filter and criteria feature to find the best NFT out of each project.

3. Coin Rivet

Coin Rivet goes beyond NFT tracking. You’ll get updates on upcoming NFT mints and crypto events, making tracking the next best collection easier. In addition, Coin Rivet helps you to list each NFT by showing the platform and pricing of said collection. 

Coin Rivet has an abundance of features besides NFT tracking and listing. You can read about NFTs, DeFi, regulations, and more… it’s the one-stop shop for NFT degens!

4. icy.tools

Icy.tools tracks trending collections. The icy.tools free edition displays complete 15–30–minute NFT charts, as well as the floor price, sales, average price, and volume. If you want more information on NFTs, the premium membership offers historical data, 1-min to 1-day charts attributes, rarities for every NFT collection, and pricing charts!

Moreover, its user-friendly interface makes NFT analysis straightforward for beginners. For example, in the Discover Tab, you may locate the wallet addresses of prominent buyers and sellers.

5. Crypto.com

Crypto.com can track the top NFT collections in the blockchain industry. You can get pricing, volume-based NFT statistics, and a list of top NFT collections on the website with their total assets, collection worth, floor price, volume, and sales.

Furthermore, you can check Crypto.com’s forthcoming NFT collections for investment opportunities. This platform provides access to priceless NFT data.

Summary

In sum, NFT floor price trackers locate and analyze NFT collections to assist investors in removing the time-consuming and challenging process of manual price tracking. 

The NFT floor price is the lowest possible price at which an NFT can be purchased based on its current market value. The floor price of an NFT is influenced by various factors, including:

• The sentiment of a project
• Demand, and the introduction of new purchasers
• Buzz of hype surrounding a project

It’s not a bad idea to buy NFTs at their floor price because doing so will allow you to purchase them at the lowest price possible and then resell them for a greater price later on. 

The disadvantage? It’s risky. Most projects fail in the long run, and the floor price typically drops even further after an NFT project is completely sold out. 

Thus, if you do not intend to keep your NFT, you will now be required to sell it at a loss. 

But if you’re a trader, an NFT floor price tracker can help you make quick and profitable trades, so you don’t suffer the losses of failing projects.