Rampant NFT Wash Trading?
Rampant NFT Wash Trading?
Cryptocurrency & Blockchain
The NFT community is going through the same early-stage headaches that the utility token space went through back in 2017 & 2018.
Namely ongoing and never-ending wash trading that merely pumps-up volume numbers & creates a fake impression of trading activity but produces no economic value for the crypto industry or participants.
NFT wash trading is a problem & issue which ultimately the marketplaces & exchanges need to resolve, yet to same players we expect to be the white knights have an inherent conflict of interest as they ultimately benefit from the wash trading since they earn on the trading fees of wash trades and create an illusion of being a relevant source of price discovery.
There is a fantastic opportunity for both new & up-and-coming NFT marketplaces & collection issuers to take leadership in building trust with the growing community.
Moreover, by increasing trade & volume transparency, creating a code of conduct that governs acceptable trading behavior and ultimately winning over the community that has a need to grow the NFT industry in a sustainable manner.
Anton is a Strategic Advisor of Pazar, decentralized OTC marketplace. Anton founded & served as CEO of flovtec. Swiss market-maker providing liquidity solutions to digital asset exchanges. Token issuers & protocols and offering investment products for professional & institutional investors. Furthermore, Anton is also a co-founder of Trust Square AG, a pre-eminent blockchain technology hub located in Zurich’s financial district. Anton co-founded Lykke Corp, a blockchain-powered exchange to trade all assets with zero fees. Where he served as a Chief Science Officer.
Prior to Lykke, he worked as a quantitative researcher at Olsen Ltd. (successor to Olsen & Associates, founded in 1985), a boutique investment firm that pioneered the field of high-frequency trading. As a Marie Curie Research Fellow at the Alliance Manchester Business School. Furthermore, Anton worked on high-frequency trading, market microstructure and flash crashes. In 2011, invited to participate in the Foresight Project. The Future of Computer Trading in Financial Markets. An international project on algorithmic trading funded by HM Treasury in the UK. In addition, involved in several research projects backed by the European Union (EU). And lastly on the Supervisory Board for the BigDataFinance project funded through Horizon 2020. He has co-authored 13 academic papers and two books.
Rampant NFT Wash Trading?
