Different Doors that control the Floor
Updated: Apr 4, 2022
The floor price means different things to different people when looking at an NFT project. For today, my lovely reader, you will be referred to as a door. You read that right. You are your own door, and you control when you enter and exit and effect the floor price of an individual project. We all do.
To kick off my door analogy, we'll start with the front door. The front door is mad to see the floor drop so they can get in easier. Front doors are eager watchers and will usually bid lower than the floor price to save themselves crypto and attempt to get a bargain. I've been a front door. So excited by a project but didn't have the crypto to spend on a bid.
Then, you've got the double door, usually chillin' in the back somewhere, who is keen to see that floor price double so their NFT is more valuable and they make a profit. They are also the kinda person who is going to price that NFT nice and high to get the floor price up. You'll see excitement within a project rise with the floor price too, naturally. These double door peeps are the ones that contribute to that hype and God bless 'em.
Then you've got the swinging doors; are they in are they out? They're the indecisive ones, they don't even know themselves. When they've decided they want out of a big beautiful community for whatever reason, we've all seen the swinging door accept a lower bid than anticipated. This breaks my heart for the HODLers (hold on for dear lifers) in that community and for the artist and charities that are benefiting from the secondary sales. It's like anything in life, nobody wants to see that someone else places less of a value on something that you really care about.
The revolving door. This is a person who is in a project for a split second. Maybe the Discord isn't their vibe. Maybe they don't like the roadmap. Maybe they just won an NFT and want out. Or maybe they just need that f*cking eth back. Again, for whatever reason, it's not for them and they're out as quick as they were in. These revolving doors may not always effect the floor but can help with the volume traded.
And finally, you've got the inside house doors. You know the ones, that are neither open or shut, they're just there, a fixture in the house. (You are now able to think of a door in your own home that is more of a fixture than a door, right?)
These people are just sitting on their babies, I mean NFTs, and don't ever intend to sell. If everyone in a project is an inside door, their action actually makes the floor price look like a floor, with this ' ---- ' sign showing in the floor price box. The inside doors are the communities foundation. The lifers. They're the people you're more than happy to have inside your home.
I'm going to wager a bet that you've been a few different doors on your NFT journey so far. Which ones have you been?