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The financial wizardry behind NFT's is the wash trading. A lot of average people looking to get into NFT's simply don't understand that many of the 'success stories' they see of people making big money on NFT's are just wash trading trying to lure in the marks.

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I mean, yeah, but wash trades aren't wizardry. Like, you go on eBay, it's always possible sale prices are someone selling to themselves and just paying the transaction fee. I hope/assume that's fairly widely understood.

The Luna "automatic peg" stuff is genuinely clever, but with genuinely surprising implications (at least for me, a casual observer/layperson) for dynamic instability.

Yeah I mean wash trading isn't that sophisticated, but it is wizardry to the people gettinf fooled by it. The algorithmic peg and other stablecoin shenanigans aren't necessarily that sophisticated either, and yet...

Fair point.

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