NFT whale standard Machi Huge Brother is said to have liquidated over a thousand NFTs from his massive collection of digital artworks in the last 48 hours. Blur, the NFT market for professional traders, saw an enormous sale.
On-chain analytics firm Nansen revealed the main points of Machi’s latest NFT sale. The NFT whale purchased 90 NFTs from his Bored Ape Yacht Membership (BAYC) collection for 5707 ETH ($9.1 million), 191 Mutant Ape Yacht Membership NFTs for 3091 ETH ($4.9 million), 112 NFTs from his Azuki collection for 1644 ETH, and 308 Otherdeed for 582 ETH, according to Nansen technician Andrew T on Twitter.
According to Andrew T, Machi paid 11,024 ETH for the NFTs, netting $17.5 million. Despite the large sale of blue-chip NFTs, the whale could not generate much revenue because it was followed by acquiring over 900 NFTs, for which he paid 8479 Ether. Machi purchased 57 BAYC, 190 MAYC, 119 Azuki, and 285 Otherdeed NFTs.
Andrew T called it “the most significant NFT dump ever.” According to Nansen, the whale still has 7000 ETH in his Blur deposit pool and 11,000 ETH worth of NFTs that he may decide to sell. “It doesn’t matter what, it’s one of the purest expressions of degeneracy and psychological illness I’ve ever seen on-chain,” the Nansen technician wrote on Twitter.
Customers on Twitter speculated that Machi’s recent transactions could be a massive wash transaction to generate Blur airdrop revenue. Earlier this week, the NFT market printed the requirements for its second airdrop. The requirements encourage trading activity on the platform by rewarding loyal traders who list their NFTs on Blur. The reward is 300 million plus BLUR tokens, which shall be distributed to the neighborhood primarily based on their buying and selling exercise.