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How do you tackle issues with manipulation? Can’t I get together with my friends and wash trade each other’s tokens?
by peytn 6y ago
How do you tackle issues with manipulation? Can’t I get together with my friends and wash trade each other’s tokens?
- gruez 6y agoAt the end of a day it's still a token, so all the usual scams (eg. pump & dump) still apply.
- peytn 6y agoDang, I was hoping somebody would’ve come up with something by now before the SEC or whoever does.
- PragmaticPulp 6y agoYes, wash trading should be assumed to be ubiquitous in the NFT space. It's too cheap and easy to create fake trades of NFTs to trust that transactions are all real. The tokens described in this article don't necessarily depend on the sale price of the NFT, though. Instead, these NFTs would represent the beneficiary of real-world contracts. Whoever holds the NFT collects the future income of the person, as enforced by a real-world contract. Of course, nothing stops them from wash trading these NFTs in an attempt to flip them.