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“Revenge the floor” means buying an NFT from a collection at the lowest price.
This strategy is often used to acquire cheap NFTs from promising projects, raise the minimum price and generate demand for the collection.
Use the Binance NFT Marketplace's Bundled Buy feature to buy multiple NFTs in one transaction.
Learn what the "sweep the floor" trading strategy in NFT collections is and how to use it on the Binance NFT marketplace.
The concept of “sweeping the floor” in NFT collections has nothing to do with cleaning. You may have come across this term before. Let's take a look at what it means and how to start using this strategy on the Binance NFT marketplace.
What does “sweeping the floor” mean in the NFT space?
“Revenge the floor” means purchasing an NFT collection, or most of it, at a minimal price. This strategy can be used by both ordinary users and projects and organizations. The minimum price is a key metric that represents the value of the cheapest NFT in a collection. Simply put, “sweeping the floor” is buying the cheapest NFTs in a collection.
For example, if the cheapest NFT in the XYZ collection is worth 1 BNB, then sweeping will buy all NFTs that are worth one BNB. After that, the minimum price will rise to the value of the next cheapest NFT in the collection. Sweeping increases the minimum price of a collection, but usually only for a short period; Sellers usually undercut this price by selling the NFT for less than it.
What is "sweeping" for?
As we have already said, both traders and projects can “sweep the floor”. Sometimes the project regularly “sweeps” the collection to maintain demand for it. This attracts NFT investors and collectors who know that there is always a demand for NFTs. However, this strategy is only effective in the short term; the long-term effectiveness of a project sweeping up its own collection is highly debatable. In some cases, “sweeping” is used for unscrupulous purposes: to artificially increase the value of an NFT collection.
A bullish project collector can also use sweeping to get as many NFTs as possible at the lowest price. Project participants are usually positive about the investor sweeping the floor because it may attract further investment.
What affects the minimum price of an NFT project?
The minimum price is usually inversely proportional to excess supply. The more community members offer NFTs from any collection for sale, the lower the minimum price becomes as sellers compete with each other and try to offer their NFTs at a better price. If there is an incentive to purchase an NFT (such as a useful application or an opportunity to make money), the supply will be lower and the minimum price will be higher. If the use cases for an NFT are attractive enough, other collectors will also want to purchase it; demand and the minimum price will increase.
In addition to standard supply and demand, other factors may affect the minimum price of a collection, including:
Number of collection holders. The more holders, the higher the minimum price.
Additional possibilities for using NFTs (for example, in a game or service).
Volatility. In projects with high volatility, the minimum price will often be lower, as NFT prices are affected by hype, pumping and selling.
Popularity of the project. NFTs of large projects are usually worth more on the market; Accordingly, their minimum price is also higher than average.
How to sweep up an NFT collection
Like other strategies, collection sweeping comes with risks. Below are a few tips to help you get your bearings before you start sweeping up your collection. Please note: these are just basic tips and not a comprehensive guide.
DYOR. Do your own research: Before purchasing the cheapest NFTs in a collection, find out whether the collection has growth potential. To do this, pay attention to factors such as quality, usage scenarios, reputation of the artist or creator, and the popularity of the collection itself.
Monitor changes in the market, especially price changes in the NFT collection. If you notice volatility, you can take advantage of potential downturns in prices. You should only take risks that you can afford, for example if you have excess profits. The exact amount will vary from user to user.
Set a budget. Decide how much money you are willing to spend and stick to that plan. Ideally, your best bet is to collect a variety of NFTs without spending too much money on any one of them. Always spend within your means and assess your financial situation in advance, then decide how much you can afford to spend.
Be patient. NFTs do not always have the liquidity of major coins such as Bitcoin (BTC) or Ethereum (ETH). You may have to wait before you get a return (if at all) from the "swept" NFTs. Reselling them immediately after purchase may negate the sweeping effect. Before purchasing an NFT, check its price history to better understand the dynamics.
How does the sweeping strategy work?
Let's look at an example of sweeping in action. Imagine you have 85 BNB to “sweep the floor” of a particular NFT collection. The minimum price is 15 BNB and there is one NFT available for it. Next up is another NFT worth 16.5 BNB; two NFTs worth 17 BNB, one NFT worth 19.5 BNB and one NFT worth 20 BNB.
By sweeping the floor, you acquire the five cheapest NFTs in the collection, worth 85 BNB. After that, the minimum price is 20 BNB. You can now try to sell your NFTs for 20 BNB or more. However, other sellers may try to quickly sell something below the minimum price. Demand for NFTs may change and their price may fluctuate rapidly. Therefore, “sweeping the floor” is a strategy that requires careful advance thought and analysis.
Binance NFT «Sweep the Skirt»
If you want to try sweeping as part of your NFT trading strategy, use your Binance account. The Binance NFT marketplace now offers a “sweeping” feature for the combined purchase of multiple NFTs at a minimal price. It's especially useful for purchasing popular, fast-moving NFT collections: with this feature, you can buy multiple NFTs at once in one transaction. See our FAQ for more details.
"Sweeping the Floor" NFTs Require Careful Consideration
Sweeping the floor of an NFT collection can be a useful strategy, but it is important to note that it does not guarantee success. As with other types of investing, there are risks, and the value of collections and NFTs is often unpredictable. Use the tips above to be more prepared and responsible when it comes to floor sweeping.
Additional Information
All about the practical application of NFTs
6 Key Indicators for NFT Collectors: How to Evaluate an NFT Project
How to estimate the value of an NFT?
Risk warning. The value of your NFT may fall or rise. NFTs are subject to high market risk. Binance is not responsible for verifying the authenticity, legality, or originality of NFTs. NFTs are not regulated in most countries, but you should personally ensure that you are allowed to use the Binance NFT Marketplace based on your own circumstances. For more information, please review the Binance NFT Marketplace Terms and Conditions, Binance Terms of Use, and Risk Disclosure.
Disclaimer: Binance does not recommend, review, or endorse any third party platforms, research tools, or NFT projects. Always do your own research—you are solely responsible for your investment decisions. Use third party platforms and tools at your own risk.