Many times we have seen the phrase 'market manipulation', referring entirely to #Criptomonedas and #tokens , but did you know that this can also happen in NFTs? Let's explore.
To put a little context to all this, on Saturday there was a conference dedicated to the #nft called #CryptoPunks Meetup 2-0, the name refers to the very famous collection (OG) in the #Ethereum network with a floor price of 55 ETH (approximately $233k) and the significant value it represents for the community.
It turns out that at this conference a video was presented with the founders of Larva Labs (creators of the Cryptopunks), in which they said that the Nakamigos NFT collection was like a kind of prototype for the cryptopunks in 2015.
Along with this, the attendees of the event received a brochure or flyer showing the image of the nakamigos collection with the phrase 'V0 Punks'.
The video made went viral and this fueled more excitement among attendees and those who found out through social media, which immediately resulted in the NFT market going 'crazy'.
In total, 1210 nakamigos NFTs were sold in 1,334 transactions, with a total volume reaching 502.77 ETH, moving around $2.1 million.
With these actions, the value of the nakamigos NFT increased by up to 128%, before falling back to its current level prior to the 'announcement'.
With all this information at play, later the organizers (including Beeple) of that event came out to say that this was all a joke, and to give more confidence, those flyers were created and distributed.
Perhaps this was a joke that should not have gone so far, but some investors who bought the nakamigos NFTs for a value beyond 0.4 ETH and who are now at 0.18 see it differently.
Here is a clear example of market manipulation stemming from false news or events. That is why it is always important to verify the information and who it comes from, as well as the context. I clearly saw the video, where I noticed the 'tone' of the joke, but perhaps some did not understand it and took it seriously.
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