7 ms·
How does anyone know that they aren't already connected to the seller, and just passing 10,000 dollars from one wallet address they own, to another they also ow
by ChainOfFools 6y ago
How does anyone know that they aren't already connected to the seller, and just passing 10,000 dollars from one wallet address they own, to another they also own, to create the appearance of a sale?
You get the same veblen bragging rights, the artist (assuming they are not simply your own alter ego) gets a visibility boost and nobody is going to be motivated enough to go digging around the custody trail to prove this was a sham.
This sleight of hand (in a slightly modified form) is standard operating procedure for inflating the value of ICO offerings (and by extension, crypto as a whole); I don't see why people wouldn't do it for NFTs, with the same motivations at work.