NFT wash trading is a subset of price manipulation that occurs for two main reasons. The primary reason is to earn trading rewards from incentivized platforms such as LooksRare and X2Y2. These platforms are indifferent about artificial volume as their token stakers benefit. The second reason is to manipulate the historical price and volume of an NFT collection. Deceiving potential buyers is uncommon and unsuccessful, but it remains. 

This month’s Monthly Chartbook focuses on the macro outlook, market structure & on-chain observations, L1s, L2s, & DeFi analysis, and an NFTs & gaming sector breakdown.

Competitors in the tokenized NFT marketplace race are still relatively scarce, with a handful seeking to dethrone OpenSea. Although LooksRare and X2Y2 drew first blood by releasing governance tokens, their effectiveness remains to be seen during the current bear market. The question of whether token rewards can sufficiently attract sticky users -- especially amid wash trading concerns and turbulent market conditions -- remains.

Introduction The epicenter of NFT trading primarily resides in highly centralized marketplaces such as OpenSea, which feature creator empowerment, order […]

Table of Contents: The State of Synthetix 1.1     Staking Yield Breakdown 1.2     Global Debt Pool Synthetix Ecosystem: The […]