NFT whale Machi Big Brother has sold a whopping 1010 NFTs on Blur over the past 48 hours.
The sold NFTs include blue chip collections like Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC).
Machi spent more than $13 million buying back hundreds of the NFTs that were sold.
The mass sale comes ahead of NFT marketplace Blur’s much anticipated second airdrop.
Machi Big Brother, popular as an NFT whale among crypto circles, has made NFT transactions worth tens of millions of dollars over the past 48 hours. The NFT whale has sold 1010 NFTs on Blur, in what is being described as the largest NFT dump ever.
Machi’s NFT dump may trigger liquidation on BendDAO
According to Nansen’s Andrew Thurman, the digital art sold by Machi include 90 Bored Ape Yacht Club (BAYC) NFTs for 5707 ETH, 191 NFTs from the Mutant Ape Yacht (MAYC) collection for 3091 ETH, 112 Azuki for 1644 ETH and 308 Otherdeed for 582 ETH, among hundreds of other NFTs. The sales of these digital artworks netted the NFT whale more than $17.8 million.
Thurman, who is a Simian psychometric enhancement technician at Nansen, revealed that Machi was not able to turn a massive profit from the sale of his NFTs, mainly because the sale was followed by pouring in millions of dollars to buy back hundreds of NFTs, including 57 BAYC and 190 MAYC. The Nansen technician stated that despite selling off a considerable portion of his collection and spending a massive sum to buy it back, the NFT whale had the resources to continue the buying and selling spree.
Users on Twitter have raised concerns about the liquidation of NFTs mortgaged on NFT liquidity protocol BendDAO, due to the fall in NFT prices from Machi’s massive sale. Thurman claimed that the whale’s recent transactions may be a huge wash trade on Blur in a bid to attract extra BLUR token rewards in its upcoming airdrop. As per Blur’s announcement earlier this week, more than 300 million BLUR will be distributed to the community. Users that promote trading activity on Blur by listing and selling NFTs on their platform stand to reap more tokens in the upcoming airdrop.