What is Floor Price?

The floor price — also known as a price floor — is the minimum price at which something can be purchased. This could refer to a commodity, a luxury-branded good, the work of an artist, or some other product. The floor price is typically decided by market forces and can rise and fall accordingly. In the blockchain space, the floor price is often used to reference the cheapest available non-fungible tokens (NFTs) in an NFT collection.