While price determination of fungible assets are largely solved, huge difficulties arise when trying to apply the same framework to non-fungible assets. Let's dissect the topic of pricing an entire NFT Collection with CollectionWeb3 👇
Join us in showcasing the cryptocurrency revolution, one newsletter at a time. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers — what are you waiting for?The concept of “price” is often mixed up with the “value” of an asset.
In the example above, taking a screenshot of the current BTC/USD market on Binance, we can quickly see the 3 pieces of information required to make a determination of the “Price of Bitcoin”:2.
In addition, the rarer the NFT, the harder it is to determine the price of it as the amount of data points diminishes significantly.for either a) any NFT within the collection or b) a specific NFT. The adoption of the word “offer” is interesting as in traditional trading parlance, this term is used to describe the price that a seller is willing to accept for his asset. In the NFT world, this is not the case as it denotes the bids in the market - something for traders new to NFTs to take note of.
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