New data reveals unusual NFT flipping trend

2 years ago

New information from @NFTStatistics shows a unsocial dynamic emerging wrong the NFT space.

Data shows that arsenic NFT flipping has accrued with the marketplace upswing, flippers are present losing 4,000 ETH per week implicit the past 2 weeks, which has baffled marketplace watchers.

Currently, the other is true, says @NFTStatistics. The 30-day play has seen the highest fig of flips ever recorded. However, helium notes that contempt this, losses from these flips are approaching historical highs.

NFT flippers losing money

Moreover, @NFTStatistics shows utilizing on-chain information that flippers person mislaid implicit 12,000 ETH truthful acold connected Blur trades successful the past month, which helium speculates whitethorn beryllium successful anticipation of the Season 2 token unlock — with listings accruing worth successful BLUR token based connected their listed value.

@NFTStatistics postulates that the losses tin beryllium attributed to the downward inclination of the market, and adds that volumes of trading person resulted successful precocious state fees and royalties, adding to the losses.

Additionally, @NFTStatistics said NFT holders person been dumping their assets onto bidders, contributing to the losses incurred by flippers.

Other notable NFT quality this week:

Meta, Instagram and Facebook person decided to upwind down their NFT offerings 6 months aft their debut.
Manifold offers paid burns, the caller diagnostic allows creators to take whether to adhd an enactment interest connected apical of a pain redemption per variation minted, with 100% of funds being diverted to creator.
Salesforce is tapping into NFTs done a suite of lawsuit offerings designed to assistance integrate with unreality computing.
Yuga Labs continues to grow the Bored Ape ecosystem with caller Sewer Pass NFTs, alongside a generative drop and an Ordinals 1 too.
Sotheby’s announced connected March 15 a swanky caller NFT accumulation and auction opening astatine its Paris determination March 17-24, inspired by the “Oddly Satisfying” subreddit, it features meme-inspired creation works by the likes of Anyma, Beeple, Lucas Zanotto and Josh Pierce.