NFT Whale Machi Liquidates 1010 NFTs Worth $17 Million

  • Following the massive sale, Machi repurchased the majority of the NFTs that he sold.
  • Users on Twitter have speculated that the mass sale was to farm the upcoming airdrop on Blur.

Popular NFT whale Machi Big Brother has reportedly liquidated more than a thousand NFTs from his massive collection of digital artworks over the past 48 hours. A massive sale was made on Blur, the NFT marketplace for pro-traders.

Data from on-chain analytics firm Nansen revealed the details of Machi’s recent NFT sale. According to Nansen technician Andrew T on Twitter, the NFT whale sold 90 NFTs from his Bored Ape Yacht Club (BAYC) collection for 5707 ETH ($9.1 million), 191 Mutant Ape Yacht Club (MAYC) NFTs for 3091 ETH ($4.9 million), 112 NFTs from his Azuki collection for 1644 ETH and 308 Otherdeed for 582 ETH.

According to Andrew T, Machi sold the NFTs for 11,024 ETH, netting a whopping $17.5 million. Despite the huge sale of blue-chip NFTs, the whale wasn’t able to make a lot of profit, because it was followed by the purchase of over 900 NFTs for which he paid 8479 ETH. Machi bought back 57 BAYC, 190 MAYC, 119 Azuki, and 285 Otherdeed NFTs.

Andrew T described it as likely “the largest NFT dump ever.” Data from Nansen shows that the whale still has 7000 ETH in his Blur deposit pool, along with 11,000 ETH worth of NFTs that he may decide to sell. “No matter what, it’s one of the purest expressions of degeneracy and mental illness I have ever seen on-chain,” the Nansen technician tweeted.

Users on Twitter have speculated that Machi’s recent transactions may be a big wash trade to attract Blur airdrop profits. The NFT marketplace published the requirements for its second airdrop earlier this week. The requirements incentivize trading activity on the platform by rewarding loyal investors who list their NFTs on Blur. The reward is 300 million plus BLUR tokens, which will be distributed to the community based on their trading activity.

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