An unprecedented event has occurred: An NFT whale has dumped a record-breaking number of tokens onto the market. They included high-flying digital arts such as BAYC, Otherdeed and MAYC NFTs.
At age five, Benyamin Ahmed began programming Weird Whales and soon after had earned over $250K by selling their pixelated versions. Additionally, he collected 30 ether worth $95,000 from resale markets, earning 2.5% on each secondary sale.
1. Machi Big Brother (MBB)
NFTs, or non-fungible tokens, are one of the hottest new digital currencies available. They're used in CryptoKitties' blockchain game and several celebrities and companies have invested in them as well.
In 2021, several NFT collections reached record-high valuations - some even broke records for being the most expensive digital art ever. And it's easy to understand why: these one-of-a kind digital artworks are a joy to own and trade.
But if you've never invested in NFTs before, their value may seem mysteriously unpredictable. NFT tokens are unique from other coins and their price fluctuates according to demand; that's why it's essential that you do your due diligence before buying any collections and learn how to trade them effectively.
Some NFTs can be traded on exchanges for a fraction of their face value, while others must be purchased. While this approach carries significant risk, it's the only way to obtain NFTs that you would otherwise not have access to.
At just twelve years old, a 12-year-old boy who learned how to code at five has already amassed an impressive fortune of more than PS3 million through his NFTs. Since launching his whale themed NFT collection last July, these pixelated whales have been selling for up to PS20,000 each.
His NFT sales are a testament to the growing popularity of crypto, and he now has multiple ventures under his belt, such as an NFT series featuring comic book-style characters, villains, and gods. When this collection went on sale last month it sold out instantly; now he is working with designers to expand it into comics and television.
Nansen noted MBB's dump as "the largest NFT dump I have seen in some time." It remains uncertain why the NFT whale decided to sell off their tokens, but it could be due to ApeCoin prices having taken a significant dive recently.
2. Weird Whales Collection
Jeffrey Hwang, also known as Machi Big Brother, has sold a total of 1,010 tokens in the past 48 hours for 11,680 ETH. These included major NFTs from projects like BAYC, MAYC, Otherdeed and Azuki.
No matter how high the prices of NFTs go, it can still be challenging for investors to make a profit. In the end, they must sell their tokens on the secondary market where they may need to pay more than their original cost.
It is rare to find an NFT project that has achieved such popularity and sold out so quickly. One such venture, Weird Whales Collection, was created by 12-year-old Benyamin Ahmed of London as part of his school assignments.
This project has gained immense momentum within the crypto community and received widespread media coverage. Its influence over discussions and debates regarding NFTs is helping shape their future direction.
Many are puzzled why a 12-year-old was able to create such an innovative NFT collection, since most other NFT projects have failed. It may be that this NFT collection sold so quickly due to its strong social proof.
Another element that made the project so captivating was its story. As the only NFT built by a child, its uniqueness truly shines through.
Benyamin developed an interest in technology from a young age and had aspirations of learning how to code. He then ventured into NFTs and other virtual assets, eventually launching the Weird Whales collection on OpenSea in 2021.
The Weird Whales collection is an NFT with 3,350 unique digital collectibles swimming on the Ethereum Blockchain, created by 12-year-old Benyamin Ahmed. It can currently be found on OpenSea platform.
He is a member of the Boring Bananas Discord group and received assistance from fellow users when programming NFTs. After creating all base and trait layers for his whales in pixel art, he programmed them using an open-source Python script.
3. BAYC
One of the most successful NFT projects, BAYC, recently sold 1010 pieces in two days - an unprecedented feat in the crypto market and proof that NFTs can become immensely popular.
In April 2021, The Bored Apes Collection (BAYC for short) debuted and quickly overtook CryptoPunks as the biggest NFT project worldwide. Each bored ape features its own unique face expression, special jewelry pieces and various furs. Furthermore, BAYC members gain access to an exclusive online club, in-person events, as well as other benefits.
Celebrities like Justin Bieber, Jimmy Fallon and Post Malone own some of the world's most renowned apes. These creatures have gained a large social media following and even appeared on television shows.
Though NFTs are relatively new, their growth in popularity has been exponential. Thanks to the rise of blockchain technology, buying tokens has never been simpler - though some investors may now view these assets with caution.
Some traders are wary of investing in non-fungible tokens (NFTs). Unlike other crypto assets, NFTs require more work and may be difficult to liquidate if you lose money, making research essential before investing in any NFT.
It's worth noting that some NFTs are more valuable than others. For instance, a BLUR token purchased by Machi Big Brother (MBB) was sold for $18.6 million - meaning the whale made more than double their initial investment! This represents an excellent return on investment.
Over the past few months, however, the market has been facing difficulties. A few high-profile NFT projects have seen their prices plummet drastically over this week; BLUR is down 17.7% while MAYC experienced the greatest loss with a 9.2% decline.
According to some analysts, Machi may be trying to manipulate the NFT market by buying large numbers of NFTs. The whale could be using this activity to increase trading volume and earn tokens from airdrops. While it's difficult to tell whether this is a wise move or not, it is clear that NFTs have become popular among speculators and traders alike.
4. Otherdeed
NFT Whale Jeffrey Hwang - better known as Machi Big Brother - just set a record with his most spectacular NFT sale yet. In 48 hours, he sold 1,010 high-flying tokens for an astonishing 11,680 Ether!
NFTs (Neutral state tokens) have seen a meteoric rise in popularity among crypto enthusiasts. They can be purchased as an investment or traded for cryptocurrencies like Bitcoin or Ethereum. Unlike traditional digital art, NFTs can easily be transferred between users and exchanged at will without the need for an intermediary.
The market for NFTs is flourishing, but these deals can be unpredictable. Vignesh Sundaresan - an anonymous online entrepreneur who purchased Beeple's Everydays NFT for a record amount in October - cautioned against investing in NFTs unless you have an established reason to do so.
Abigail de' Medici is another NFT enthusiast taking advantage of the market's recent surge. She plans to donate 10% of her main and secondary NFT sales profits to Beluga whale organizations as well as The Sunshine Kids Foundation, which provides care and services for children with disabilities.
She advocates for transparency in the crypto space and wants to make NFTs more accessible to everyone. "The only thing I've ever done with my money is buy something with tremendous value," she states.
As an NFT collector, she says her primary passion is supporting artists. "I enjoy supporting them because they create art that's unique and innovative," she explains.
Otherdeed for Otherside, a project that seeks to create a metaverse where NFT projects can thrive, serves as the best example of this concept. It's an immersive virtual world that allows top NFT projects to collaborate and collaborate.
Otherdeed for Otherside was a pioneer in its kind, offering NFT holders the unique opportunity to own part of the virtual world. The auction attracted an impressive number of bidders - including members of the legendary whale community as well as some anonymous ones - thanks to its innovative mechanics that extended time windows by three minutes for each new bid. This ensured that all 33 Ultraviolet NFTs, 127 song NFTs and 332 participation NFTs were collected during the sale which also generated $8 million in follow-on bids.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.