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Supply:demand would work, but eventually they'd just be worth (practically) nothing because I'm afraid people would just farm them until their value was at the minimum. If it reset (even just every time the server rests) people would just hold onto their items, spam-trading like the current system. Dungeon drops should have a set reward, since it takes the same amount of effort for each run. It's not really competitive in nature like open world NMs.
The lesser guys' drops are a hard question. It would make sense for them to be worth something, but measures have to be in place to prevent them from being "farmed" (maybe only 1-2 trades for each lesser NM item per character, ever?). Admittedly, they're up most of the time and only a few new players ever kill them, let alone camp them. However, I'm afraid I know too many people who would gladly farm mobs (esp Raptors...) at the expense of newer players.
Hmm, what about the other part? Keeping open-world NM drops from instantly becoming materia or the sort thereof?