A Reserve Price NFT refers to a minimum price set by the seller for a non-fungible token during an auction. This price acts as a safety net, ensuring that the seller will not accept bids below a certain threshold.When the auction starts, potential buyers can place their bids. If the highest bid falls below the reserve price, the seller is not obligated to complete the sale. This mechanism helps sellers avoid selling their NFTs for less than what they consider acceptable or fair.By establishing a reserve price, sellers can maintain greater control over the sale process. Buyers, on the other hand, may feel encouraged to bid higher as they know that the item might not sell if their bid does not meet the set reserve.Overall, a reserve price adds a layer of strategy to NFT auctions, promoting fairer transactions for both buyers and sellers.