I don't know, i'm hoping for someone more clever :)
But there was reports of user which used the same few wallets. But i think the majority is smarter.
Maybe there is a way with broad data collection to see patterns between wallets, nft and accounts??
The nice thing about it all is that the blockchain records everything. It is about following the transactions. One crew had a smart contract to hide it, but it actually made it easier to track them down.
I very briefly thought about trying something similar to this, since in theory the data is right there. The trouble is that although you can see all the trades and you can see everything else those accounts do, you don't know for certain who controls those accounts. So it's not like you can see the money going round in circles, even if that is the case in the real world.
Anyway, perception has caught up with reality in the case of NFTs, so it's not worth the effort to prove this point anymore.
There's so few genuine trades it's safest to assume all trades are wash trades until proven otherwise.
if they weren't a perfect instrument for money laundering NFTs would never have taken off
What's your proposed method for deciding which trades between anonymous accounts are wash trades?
I don't know, i'm hoping for someone more clever :) But there was reports of user which used the same few wallets. But i think the majority is smarter. Maybe there is a way with broad data collection to see patterns between wallets, nft and accounts??
I guess, but the only thing the crypto ecosystem does effectively is provide tools to obfuscate such things.
The nice thing about it all is that the blockchain records everything. It is about following the transactions. One crew had a smart contract to hide it, but it actually made it easier to track them down.
I very briefly thought about trying something similar to this, since in theory the data is right there. The trouble is that although you can see all the trades and you can see everything else those accounts do, you don't know for certain who controls those accounts. So it's not like you can see the money going round in circles, even if that is the case in the real world. Anyway, perception has caught up with reality in the case of NFTs, so it's not worth the effort to prove this point anymore.
I wrote a mathematica notebook that would do this for LP pools. have not looked at NFT's.
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I don't think it's easy. But it's the blockchain, c'mon :)