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by PragmaticPulp
1724 days ago
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It's extremely unlikely that there is a hot market for Etheria tiles where eager buyers are waiting for more tiles to come on the market so they can pay people hundreds of thousands of dollars. What's likely happening is standard NFT hype: Someone realized that Etheria tiles have a good story (one of the first NFTs) and they're also artificially scarce (because most original users forgot or lost them), so they make for good "NFT sells for $xxx,xxx headlines". Anyone with an NFT can "sell" it to themselves in a wash trade between two wallets they control, meaning they don't actually spend any money. However, the transaction is recorded online so they can now say their NFT is "worth" the transaction price. The next step is to flip the NFT to someone else who can be fooled into thinking that it's actually worth that amount due to some organic demand. Be skeptical of every headline about some obscure NFT trading for hundreds of thousands of dollars. It's trivially easy for someone with a lot of crypto to manufacture fake sales and pump up the prices. |
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