Definition

Lowest asking price available at a certain moment in time for a listed NFT from a NFT series.

Floor used in a sentence

‘’The floor of this cryptopunk is 73 ETH.’’

‘’We have to sweep the floor in order to prevent a dump.’’

‘’The floor keeps going up! The project is thriving!‘’

History of Floor

The term ‘’floor’’ comes from the definition for on the ground. This implies that the floor price is the lowest price as it cannot go below the floor, metaphorically. By sweeping the floor = buying all NFT’s being listed for sale at the floor price. The price of the floor can be manipulated.

Outside of crypto, a definition of floor is also common. For example, minimum wage. Minimum wage is essentially a floor price for 1 hour of labor.