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Crypto News

NFTs In The Spotlight: Whale Sells Over 1,000 NFTs In 48 Hours, Metaverse Manuscript Up For Auction

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

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In recent news, a notable whale managed to sell 1,010 nonfungible tokens (NFTs) in a mere 48 hours, generating significant interest in the Blur NFT marketplace. Additionally, Sotheby’s is currently auctioning the original manuscript that first introduced the term “metaverse.” Moreover, readers can learn about the various motivations behind NFT purchases by users while staying up to date with the latest Nifty News, including a Twitch streamer earning a whopping 1,000 ETH after exchanging the Golden Key NFT.

Whale’s Selling Spree: 1,010 NFTs Sold In 48 Hours

Jeffrey Hwang, also known as Machi Big Brother, a prominent NFT collector, managed to sell 1,010 nonfungible tokens (NFTs) within a period of 48 hours. The transaction was valued at 11,680 Ether, equivalent to approximately $18.6 million at the time of the sale. The NFTs exchanged included pieces from prominent NFT collections such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Otherdeed NFTs.

Andrew Thurman from the on-chain analytics firm Nansen stated in a Twitter thread that this could be the “largest NFT dump ever.” Following the dump, Hwang repurchased 991 NFTs, prompting Thurman to conclude that it was a “big wash trade” designed to earn profits from the Next airdrop.

Pacman On The NFT Marketplace Battle

During a recent episode of the Hashing it Out podcast, Pacman, the founder of Blur, discussed with Cointelegraph’s Elisha Owusu Akyaw how the NFT marketplace managed to gain the attention of the entire NFT community.

According to Pacman, Blur developed a market for professional dealers. This approach contrasts significantly with other platforms that emphasize offering a simpler user experience to attract newcomers to the area.

Snow Crash Manuscript Up For Auction: The Inception Of The ‘Metaverse’ Term

Snow Crash, the book credited with coining the phrase “metaverse,” will soon be auctioned by the art dealer Sotheby’s. Bidding began on February 27 and will conclude on March 6.

The auction is a part of the “Infocalypse” series, which contains six physical and six digital goods related to the book.

Majority Of NFT Buyers Purchase For Status Symbolism

Metaverse platform Metajuice studied more than 6,000 NFT buyers in order to discover their reasons. Over three-quarters of collectors purchase NFTs for their rarity and status, according to the findings.

John Burris, the president of Metajuice, stated that consumers desire possessions that “improve their perceived status” and how they appear in the metaverse. The CEO stated that NFTs are a “key part” of this effort.

Yuga Labs Joins Ordinals Craze: Dookey Dash Key Sells For 1,000 ETH

Kyle Jackson, a Twitch streamer who acquired the Golden Key NFT by scoring the highest points on the Dookey Dash game, recently sold the NFT for 1,000 ETH, equivalent to approximately $1.6 million at the time. Additionally, the creators of the Bored Ape Yacht Club (BAYC), Yuga Labs, announced the launch of a new NFT collection known as TwelveFold on Bitcoin Ordinals.