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getFloorPrice - SDK

Returns the floor prices of an NFT contract by marketplace.

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Description

Returns the floor prices of an NFT contract by marketplace.

Parameters

NameTypeDescription
contractAddressstringThe contract address for the NFT collection.

Response

PropertyTypeDescription
Promise<GetFloorPriceResponse>objectName of the NFT marketplace where the collection is listed. Current marketplaces supported: OpenSea, LooksRare

GetFloorPriceResponse object parameters

PropertyTypeDescription
floorPricenumberThe floor price of the collection on the given marketplace.
priceCurrencystringThe currency in which the floor price is denominated.
collectionUrlstringThe link to the collection on the given marketplace.
retrievedAtstringUTC timestamp of when the floor price was retrieved from the marketplace.

Example Request and Response

Prerequisite: You will need to install the Alchemy SDK before making requests with it.

The commands for installing it using npm or yarn are given below:

npm install alchemy-sdk

yarn add alchemy-sdk

Request

// Imports the Alchemy SDK
const { Alchemy, Network } = require("alchemy-sdk");

// Configures the Alchemy SDK
const config = {
    apiKey: "alchemy-replit", // Replace with your API key
    network: Network.ETH_MAINNET, // Replace with your network
};

// Creates an Alchemy object instance with the config to use for making requests
const alchemy = new Alchemy(config);

const main = async () => {
    // define the contract address
    const address = "0xBC4CA0EdA7647A8aB7C2061c2E118A18a936f13D";

    //Call the method to check the contract floor price
    const response = await alchemy.nft.getFloorPrice(address)

    //Logging the response to the console
    console.log(response)
}

main();

Response

{
  openSea: {
    floorPrice: 44.5,
    priceCurrency: 'ETH',
    collectionUrl: 'https://opensea.io/collection/boredapeyachtclub',
    retrievedAt: '2023-06-19T00:07:11.601Z'
  },
  looksRare: {
    floorPrice: 43.65,
    priceCurrency: 'ETH',
    collectionUrl: 'https://looksrare.org/collections/0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d',
    retrievedAt: '2023-06-19T00:07:11.639Z'
  }
}

Code Sandbox

You can test out the getFloorPrice method using the code sandbox below:

Use Cases

Here are some potential use cases for the getFloorPrice method:

  • NFT marketplaces: In an NFT marketplace, the getFloorPrice method can be used to display the minimum price at which an NFT can be purchased. This helps buyers to determine the minimum price they need to pay for a particular NFT, and also helps sellers to set a minimum price for their NFT.

  • Auctions: In an auction, the getFloorPrice method can be used to determine the minimum bid amount for an item. This helps to ensure that the auction starts at a fair price and helps to prevent low-ball bids.

  • Automated market makers (AMMs): In an AMM, the getFloorPrice method can be used to determine the minimum price at which a particular token can be bought or sold. This helps to ensure that trades are executed at a fair price and helps to prevent price manipulation.

  • Tokenized real estate: In the emerging market of tokenized real estate, the getFloorPrice method can be used to display the minimum price at which a particular real estate asset can be sold. This helps buyers to determine the minimum price they need to pay for a particular property, and also helps sellers to set a minimum price for their property.

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