95% of Rarible's sales were attributed to tradewashing....Tradewashing is the practice of the seller of NFTs buying their own NFTs in order to artificially create the impression of demand. The intent behind tradewashing is to fool people into thinking there are transactions by organic trade of the token or NFT, when in fact, several or one actor uses proxy accounts to trade the NFTs or tokens back and forth, creating an illusion of volume. Cointelegraph article covers the issue - https://cointelegraph.com/explained/what-are-wash-trading-and-money-laundering-in-nfts (note: it tries to promote a blockchain analysis middleman to regulators, probably, near end of article). #nft #opensea #rarible #tradewashing
Log in to join in Reading is open to everyone. Replying needs an account.
No comments yet