What Is NFT Collection Value?
Collection Value is a metric listed on the Crypto.com Price page under the non-fungible token (NFT) section, typically shown in both USD and the value of the blockchain’s currency on which the collection is minted. It is the aggregated monetary value of all the NFTs in a collection. For example, the value of a collection on Ethereum appears in both ETH and USD; for a Cronos collection, the value appears in CRO and USD.
The Collection Value is key information that potential traders use to make informed decisions. Since the Collection Value indicates the value of all the NFTs in a collection, traders can use it to make comparisons with other collections.
For example, if a trader is considering two NFT collections — Collection A has a Collection Value of US$100, and Collection B has a Collection Value of US$200 — Collection B is deemed more valuable.
Why Is Collection Value Important?
Since NFTs are speculative assets, it is important to get as much information as possible on a collection or individual NFT. Collection Value is a key metric that lets users understand how much a collection is currently worth.