NFT Round-tripping trade

NFT trade history on the blockchain is transparent and auditable. But, it is not so often verified by analytics even so the data is open.

I have analyzed the fraud NFT trades by network analyzing. In fact, some cryptopunks may be round-tripping traded.

What is round-tripping trade?

This is round-tripping which is often used by fraud accounting.

NFT round-tripping trade.

For example, Daniel who don’t know the round-tripping trade of the Alice’s party sees the last 5 dollar trade. He may think “Ah, this NFT is traded at the 5 dollar last, so this should be valued 5 dollar NFT.” It is the pretender method of the NFT value.

Some Cryptopunks may be round-tripping traded.

The cryptopunk may be round-tripping traded. The below image shows the cryptopunk is sold with 38ETH -> 50ETH -> 58ETH -> 91ETH and finally sold with 100ETH. If the addresses appearing in transactions between 38 and 91 ETH belong to the same owner, this trade is round-tripping.

I developed the NFT analysis application which is enabled to find round-tripping trade. The application name is nftscan. The URL is https://www.nftscanapp.com/.

The trade on blockchain is assured transparency. Please try it and send me feelings.

https://twitter.com/nftscan_app

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