Baleia makes the biggest sale of NFTs in history and ‘gets rid’ of 1,010 NFTs By CriptoFácil

2023-05-02 01:33:44

© Reuters Baleia makes the biggest sale of NFTs in history and ‘gets rid’ of 1,010 NFTs

CriptoFácil – Machi Big Brother, an NFT whale popular in the cryptocurrency market, has carried out NFT transactions worth tens of millions of dollars in the last 48 hours. The whale sold 1,010 NFTs on the Blur marketplace, in what is being called the biggest NFT sale ever. The sale comes ahead of Blur’s expected second airdrop.

Digital art sold by Machi includes 90 NFTs from the Bored Ape Yacht Club (BAYC) for 5,707 , 191 NFTs from the Mutant Ape Yacht Collection (MAYC) for 3,091 ETH, 112 Azuki for 1,644 ETH and 308 Otherdeed for 582 ETH, among hundreds more NFTs. Sales of these digital artworks netted the NFT whale more than $17.8 million.

According to Andrew Thurman of Nansen, Machi did not make a huge profit from the sale of his NFTs, mainly because the sale was followed by a multi-million dollar dump to buy back hundreds of NFTs, including 57 BAYC and 190 MAYC.

Market manipulation with NFTs?

Thurman stated that despite selling a sizable portion of his collection and spending a huge sum to buy it back, the NFT whale had the resources to continue the buying and selling spree.

Twitter users have raised concerns about the liquidation of NFTs mortgaged on the NFT BendDAO liquidity protocol, due to the drop in NFT prices due to the massive sale of Machi.

Thurman suggested that the whale’s recent transactions could be a huge wash trade on Blur in a bid to attract extra BLUR token rewards in its next airdrop. The NFT Blur marketplace announced earlier this week that over 300 million BLUR will be distributed to the community. Users who promote commercial activity on Blur by listing and selling NFTs on their platform can harvest more tokens in the next airdrop.

The massive sale of Machi Big Brother marks a historic event in the NFT market and draws attention to the potential impact of NFT whale actions on the industry. The liquidation on BendDAO and the implications for BLUR token holders will be closely watched by market participants.

By CriptoFacil