🔦How Floor Prices Are Determined

The floor prices of each collection on NFTRich are determined based on the actual bids placed on each collection. Typically, these floor prices are set a few percentage points below the verified, real-time floor price within the broader NFT market. It's important to note that these floor prices are not arbitrarily defined but are the result of careful monitoring and verification by the NFTRich team.

The NFTRich team diligently ensures that these floor prices are accurate and reflective of the current market conditions. This meticulous verification process helps prevent any potential gaming or abuse of the system, ensuring a fair and transparent environment for all users on the platform. By basing floor prices on real-world data and regularly updating them, NFTRich maintains its commitment to providing users with reliable and trustworthy NFT valuations.