Andrew Thurman of Nansen theorized that this massive NFT drop is an effort to obtain further BLUR token rewards while also making profits, as the Blur marketplace is scheduled to receive a second airdrop.
Nonfungible token (NFT) whale Jeffrey Hwang, better known as Machi Big Brother, sold 1,010 tokens in 48 hours for a total of 11,680 Ether, or $18.6 million, according to Nansen data.
Andrew Thurman, Simian Psychometric Enhancement Technician at Nansen, noted the trading activity of the preceding two days in a February 25 tweet thread. According to him, this is “possibly the largest NFT leak ever.”
In addition to 308 Otherdeed NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs, and 90 Bored Ape Yacht Club (BAYC) NFTs, the primary selling event featured these and other NFTs.
In what's likely the largest NFT dump ever, in the past 48 hours Machi has sold 1,010 NFTs, including:
— Andrew T (@Blockanalia) February 24, 2023
– 90 BAYC for 5707 ETH
– 191 MAYC for 3091 ETH
– 112 Azuki for 1644 ETH
– 308 Otherdeed for 582 ETH
But he's not registering much profit for these collections. Why? pic.twitter.com/4NyMF3gzuy
In addition to 308 Otherdeed NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs, and 90 Bored Ape Yacht Club (BAYC) NFTs, the primary selling event featured these and other NFTs.
Machibigbrother received 1.8M $BLUR yesterday. That was over a $1M at the time of the drop, and around $1.8M now.
— Arkham (@ArkhamIntel) February 16, 2023
How did he play the airdrop?
Let's check his address out: pic.twitter.com/T10GF4HU0j
Hence, Machi and other whales may be attempting to enhance NFT trading activity in order to acquire more BLUR tokens in the forthcoming round.
According to data from NFT Price Floor, the floor prices of the top collections that Were originally released have reduced by 7.77%, 9.2%, and 8.16% for BAYC, MAYC, and Otherdeed NFTs, respectively, over the preceding 24 hours.
Thurman stated in a recent article that “one man’s quest of an airdrop is destroying some markets.”
TOTALS for the last 48 hrs:
— Andrew T (@Blockanalia) February 25, 2023
– 1,010 NFTs sold for 11680 ETH
– 991 NFTs bought for 9833 ETH
– +1847 net ETH
Meanwhile,
– BAYC floor down 12% (75 to 66)
– MAYC floor down 9% (16.5 to 14.7)
One man's quest for an airdrop is wrecking some markets https://t.co/HhkVD6xS5y
According to CoinGecko, the current price of BLUR is $0.79 and has decreased by 17.7 percent over the past week.
The Blur team announced on February 22 that “season two” of the project will shortly airdrop tokens worth $300 million.
Content Source: cointelegraph.com
Cover Image Source: wallpapers.com
