Comment by easytiger | Hacker News Reader

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Comment by easytiger | Hacker News Reader

I noticed Bonham's are currently auctioning NFTs for soccer football trading cards

One for Ronaldo with 2days left is 180k with an expected sale of 800k-1.2m (usd)

People have gone mad

Just as likely that it's a wash trade.

I keep hearing this, but how is that supposed to work?

Since wallets aren't KYC one user with another wealth can bid up their own NFT or even sell it to themselves. Until a mark comes along and buys it

You sell to your self on a different account, makes it look like people are buying it.

Example here https://twitter.com/FoldableHuman/status/1457849741148971010...

This thread explained the scam pretty well https://twitter.com/Foone/status/1457749433844568066?s=20 (they changed NFT-->NTFS to avoid bots)

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