{"id":4227,"date":"2023-02-27T09:27:39","date_gmt":"2023-02-27T09:27:39","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/02\/27\/largest-nft-dump-ever-by-whale-nft-news-today\/"},"modified":"2023-02-27T09:27:39","modified_gmt":"2023-02-27T09:27:39","slug":"largest-nft-dump-ever-by-whale-nft-news-today","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/02\/27\/largest-nft-dump-ever-by-whale-nft-news-today\/","title":{"rendered":"\u2018Largest NFT Dump Ever\u2019 by Whale – NFT News Today"},"content":{"rendered":"

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The dumping of 1,010 NFTs by a prominent whale may be a symptom of the new Blur marketplace rewards scheme.<\/strong><\/em><\/p>\n

A known \u2018whale\u2019 named Machi Big Brother <\/a>dumped 1,060 non-fungible tokens over a 48-hour selling spree. In total, the dump amounted to $18.6M, in what is being called the biggest dump in NFT history.<\/p>\n

What is more, Machi Big Brother then bought back 991 NFTs in a bizarre twist.<\/p>\n

A whale is someone who owns a large amount of cryptocurrency, and can manipulate the market with their trading activity. Consequently, whale activity causes a ripple effect, and can lead to drastic changes in market prices.<\/p>\n

For instance, Machi Big Brother sold 90 Bored Ape Yacht Club (BAYC) NFTs, and that resulted in the floor price for BAYC NFTs dropping 12%.<\/p>\n

Nansen\u2019s content lead Andrew Thurman provided commentary on the unravelling story.<\/p>\n

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In what’s likely the largest NFT dump ever, in the past 48 hours Machi has sold 1,010 NFTs, including:
\u2013 90 BAYC for 5707 ETH
\u2013 191 MAYC for 3091 ETH
\u2013 112 Azuki for 1644 ETH
\u2013 308 Otherdeed for 582 ETH<\/p>\n

But he’s not registering much profit for these collections. Why? pic.twitter.com\/4NyMF3gzuy<\/a><\/p>\n

\u2014 Andrew T (@Blockanalia) February 24, 2023<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

On chain madness<\/h2>\n

Andrew Thurman believes that the dumping of so many NFTs reflects \u201cnaked market manipulation\u201d, \u201cdegeneracy\u201d, and \u201cmental illness\u201d. Moreover, Thurman is under the impression that Machi Big Brother\u2019s actions are linked to his involvement with Blur marketplace.<\/p>\n

Blur is an emerging marketplace, and is currently usurping the giant Opensea<\/a> in terms of trading volume and activity. In fact, the reason for Blur\u2019s recent success is linked to its free token airdrops and rewards scheme.<\/a><\/p>\n

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Credit Blur<\/figcaption><\/figure>\n<\/div>\n

Essentially, Blur is aggressively rewarding professional traders with free $BLUR tokens if they meet the requirements of the marketplace. Furthermore, the marketplace is rewarding traders who bid for, and sell, NFTs in high volume.<\/p>\n

In fact, one of the biggest beneficiaries of the Blur rewards scheme has been Machi Big Brother, who recently scooped $1.8M $BLUR as a reward for his activity, and sold it for $1.3M.<\/p>\n

More to come<\/h2>\n

Blur is causing a big stir in the market, and it\u2019s only just getting started. Indeed, with Blur\u2019s next airdrop looming, we can expect more major whale activity as Blur prepares to airdrop 300M $BLUR tokens.<\/p>\n

To qualify for its free token airdrops, you need to show lots of activity, and loyalty, to the marketplace in various ways. For example, you gain a 100% loyalty score for not listing NFTs on other marketplaces like Opensea.<\/p>\n<\/div>\n