Over the last 2 years, NFTs have grown exponentially in demand and value accrued. NFT collections in Ethereum have amassed $9 billion in market capitalization (based on floor price). Contrary to equities and other crypto assets, NFTs couldn't be easily utilized to access additional liquidity (through staking rewards or collateralization).
Open source NFT floor pricing feeds enable the transparency projects need to evaluate NFT collections in the most risk-averse and accurate ways.
NFT floor prices are important because they represent the lowest purchase price for an NFT within a collection. Chainlink NFT Floor Pricing Feeds make the latest NFT pricing data easily accessible to developers. By providing accurate, real-world data around the price of NFTs, developers will be able to create and deploy new DeFi use cases.