MachiBigBrother Owns 16% of Gitcoin Presents Collection
Notable collector and NFT whale MachiBigBrother now owns an outsized portion of the Gitcoin Presents collection that ran wild yesterday as collectors speculated on Ethereum founder Vitalik Buterin's involvement with the project.
❗ Why It Matters
It is concerning whenever a single collector owns such a large percentage of a collection, as that collector then has the ability to influence trading.
🔎 The Deets
- Machi now owns 1,476 Gitcoin Presents NFTs, around 16% of the supply. The amount of Gitcoin NFTs held by Machi is now over 2x the next biggest collector.
- Vitalik's exact involvement with the project remains murky. These NFTs are effectively eBooks with the "The Quadratic Funding" collection of papers from several authors, including Vitalik. But how much will the Ethereum founder be involved with the project moving forward, if at all?
- Amidst all the rumors and speculation, the floor price of the Gitcoin Presents collection sits at 0.43 ETH, up significantly from the 0.05 ETH mint price, but down from yesterday's highs in the 0.7 ETH range.
🎤 Community Feedback
MachiBigBrother is now the top holder of Gitcoin Presents NFTs. He has been actively sweeping up the floor, and now holds 1476 NFTs.@sandraaleow