Machi Big Brother, a renowned non-fungible token (NFT) whale, made headlines in the crypto space for selling a whopping 1,010 tokens in just two days, raking in $18.6 million worth of Ether (ETH). The trading activity, highlighted by Nansen’s simian psychometric enhancement technician, Andrew Thurman, is believed to be the largest NFT dump ever.
The selling event included various popular NFTs such as 90 Bored Ape Yacht Club (BAYC) tokens, 191 Mutant Ape Yacht Club (MAYC) tokens, and 308 Otherdeed NFTs. However, Machi Big Brother quickly bought back 991 NFTs, leading to speculation that it could be a market manipulation tactic or an attempt to book some profits while generating huge Blur AirDrop profits.
Machi Big Brother’s association with Blur [BLUR], a rising NFT marketplace, adds an interesting twist to the story. Machi is one of the biggest recipients of the Blur token AirDrop, which has gained a lot of traction in recent times. According to Dune, Blur has surpassed OpenSea to become the top-ranked NFT platform in terms of the trading volume.
The project recently began distributing its first round of AirDrops to the community, with the number of tokens distributed based on the user’s level of platform engagement and Ethereum-based NFT trading activity. Machi Big Brother received 1.8 million BLUR tokens and cashed them out for $1.3 million, as reported by blockchain analytics platform Arkham Intel. As a consequence of this, Machi may be able to acquire some new BLUR tokens in the subsequent round by increasing the volume of NFT trading activity, and other whales may also be in a position to do the same.
The impact of Machi Big Brother’s trading activity on the floor prices of top collections is worth noting. According to data collected from NFT Price Floor, the floor prices of the collections that Machi initially dumped have dropped by 7.77%, 9.2%, and 8.16% in the last 24 hours.
Thurman’s post on the incident has also garnered attention, with his comment “One man’s quest for an AirDrop is wrecking some markets,” making rounds on social media.
The Blur team has announced that the project will soon AirDrop $300 million in tokens in its second round, adding further excitement to the NFT community.
Machi Big Brother’s NFT trading journey is a perfect example of the role whales and AirDrops play in the NFT market. While they can make or break the market, it’s also true that their trading activity generates a lot of interest and buzz among traders and enthusiasts alike.