NFT trader, Hanwe Chang reportedly made 800 ETH (~$1.5m) by tricking a bot on Blur, an NFT marketplace. Testing the bot’s patterns, Chang inflated his own NFT prices, leading to unexpected profit. However, it’s cautioned that such practices can potentially be seen as illegal activity.
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Brawn and Bots: Perils and Potential of Today’s NFT Marketplace
A trader outsmarted a bot into buying his overpriced NFTs, gaining a lucrative 800 ETH ($1.5 million). This strategy has sparked conversations about its legal implications. Meanwhile, July saw a decrease in NFT volumes, causing concern among creators. Despite this, Gary Vaynerchuk recently entered the NFT space, partnering with Reebok.