Coinbase Cloud, Chainlink Launch Price Oracles for NFT Floor Pricing
Coinbase will introduce NFT floor pricing feeds via its Cloud service, allowing developers to access real-time NFT prices to create new DeFi applications like NFT lending markets and NFT indexes. The feature was developed with Chainlink Labs, the development team behind the Chainlink oracle solution.
NFT floor prices represent the lowest purchase price for an NFT within a collection. Having visibility on this data allows developers to provide some price security behind applications like NFT lending markets, since they will know exactly how much the collateral will be worth. This can help avoid the fate of some NFT lending services that have suffered at crypto prices swinging wildly in recent months, while facing collapsing NFT prices.
Source
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