Nobody knows who ātheyā is, thatās the million dollar question. There are three options: 1) investor that is bad at math, 2) someone who really wants to give the Red Cross money in an obscure way, 3) TSB rugpulling
two other optionsā¦ 1) launderingā¦ i think this would be like one of those mixer things where you put dirty coins in, get clean coins outā¦ or 2) tax writeoffā¦ put on your taxes you spent $50K on charity donation, donāt declare the coins that come back
There are also a lot of sales of the other nftās in the past few hours or days, I think the sales of the past week are almost 50% of all sales of those nfts
The DAO is sponsoring the PRIZE POOL of 200k SAND and not the event itself.
Yobike, the studio thatās organising the event, is going into liquidation.
TSB is supposedly fronting this since its mainly advertised by them.
Soā¦ is the DAO still giving Yobike the 200k SAND for distribution?
Is there a possibility that it may be seized by the liquidation firm once its transferred?
Does any of these tie in with whats going on with the NFTs? Insider info etc.
The reasons why so many NFTs have been purchased in recent days is quite logical.
Last week NFT sales were around 350 for Quad, Boat and Ambulance. So if someone buys 10 NFT of each and 10 Mug, heāll spend 80 SAND x 10 x 4 or 3,200 SAND and potentially earn this:
Reward QUAD: 10/360 x 40,000 = 1111 SAND
Reward BOAT: 10/360 x 40,000 = 1111 SAND
Reward AMBULANCE: 10/360 x 40,000 = 1111 SAND
Reward Bonus 3NFT : 13/250 (estimated number of triplets) x 40 000 = 2 080 SAND
Reward Bonus 4NFT : 10/150 (estimated number of quadruplets) x 40 000 = 2 667 SAND
Total Reward (estimate) = 8,080 SAND for 3,200 SAND spent (thatās a great deal)
Even today, with all the sales that have been made, it should still be profitable (see estimate calculation below). So I think that those who bought NFTs in the last few days just made calculations and estimated that they werenāt going to lose any crypto in any case. In addition, of course, to doing a good thing for the Red Cross.
Reward QUAD: 10/682 x 40,000 = 587 SAND
Reward BOAT: 10/784 x 40,000 = 510 SAND
Reward AMBULANCE : 10/651 x 40 000 = 614 SAND
Reward Bonus 3NFT : 13/500 (estimated number of triplets) x 40 000 = 1 040 SAND
Reward Bonus 4NFT : 10/350 (estimated number of quadruplets) x 40 000 = 1 143 SAND
Total Reward (estimate) = 3,894 SAND for 3,200 SAND spent (still reasonable)
Buying only 100 Boats is not interesting if 50% of the Boat NFTs have been bought, but if he has also bought other NFTs (Mug, Quad, Ambulanceā¦), then it can be a good deal.
I would like to give my two cents here,
I do understand all parties; however, this is web3.
The foundational elements of it are decentralization, anonymity, and freedom to do whatever a person wishes.
Whatever logic a person has to spend 5K on an NFT is their own and could be for any reason. Similar to someone spending 120K on a meme coin on Pumpfun that got rugged within 24 hours (I personally saw that); People can do whatever they want.
Now, there is an event and rewards. In my opinion, thereās only one party responsible for its organization. The rest can do whatever they want. As long as the rules to be granted rewards are laid out clearly, then participants can do whatever they want.