Print Page - Need some help in uderstnating how an NFT is priced?

Title: Need some help in uderstnating how an NFT is priced?
Post by: bogdy23 on February 15, 2023, 06:38:57 PM

There is this NFT

Bored Ape Yacht club, what is its price? I`m looking at it on the https://coinmarketcap.com site.
Estimated Market cap is 755,111.3 ETH, so the NFT is worth 755.000 ETherums or 755.000x1500= 1,132,500,000$
Did I understand this correctly?

Title: Re: Need some help in uderstnating how an NFT is priced?
Post by: Stalker22 on February 15, 2023, 06:57:47 PM

Quote from: bogdy23 on February 15, 2023, 06:38:57 PM

No. The Bored Ape Yacht Club (https://boredapeyachtclub.com/) is a collection of 10000 unique Bored Ape NFTs (coinmarketcap actually shows a total of 9,998 assets). The Estimated Market cap of 755,111.3 ETH is the sum of the price of all individual assets from the collection, not just one NFT. An NFT's price generally varies, but the average price for one NFT from that collection is around 75.9 ETH.

Title: Re: Need some help in uderstnating how an NFT is priced?
Post by: vv181 on February 15, 2023, 07:06:11 PM

Each NFTs prices vary and are subjective.

According to https://coinmarketcap.com/nft/collections/, BAYC average price is currently at 75.54 ETH, which is mean that is the average of the prices of all BAYC NFTs. You can take a look over https://opensea.io/collection/boredapeyachtclub, to see all of the listed prices.

The CMC methodology (https://support.coinmarketcap.com/hc/en-us/articles/360043836811-Market-Capitalization-Cryptoasset-Aggregate-) to calculate market capitalization as follows.

Code:

Let (C) be the last known reference price of Bitcoin from CoinMarketCap in USD.
Let (S) be the current circulating supply of Bitcoin.
Let (D) be the derived market capitalization for Bitcoin.

For this example, let (C) = 10,000 USD / 1 BTC and let (S) = 17,000,000 BTC.

D = C * S
D = 10,000 USD / 1 BTC * 17,000,000 BTC = 170,000,000,000 USD

Although it doesn't clearly tell it applies to NFT and estimated data, we might assume it also can be used for NFT data.

So the formula can be calculated as 75.54 (avg price) * 9998 (total assets/NFTs) = 775.244,92 ETH

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