In the world of non-fungible tokens (NFTs), the recent surge in trading activity has been met with some skepticism. A leading NFT analytics platform has flagged 80% of recent trades on Blur, a popular NFT marketplace, as “inorganic” – a term that has raised questions about whether the trades are legitimate or if they are the result of wash trading.

Wash trading is a form of market manipulation where traders buy and sell the same asset to create the illusion of increased activity and liquidity. It’s a practice that has been used in traditional markets for decades, but it’s now becoming a concern in the NFT space as well.

So what’s going on with Blur? According to the analytics platform, the majority of the trades on Blur are being conducted by a small group of users, suggesting that the activity is not organic. This raises the possibility that the trades are being artificially inflated by wash traders.

However, it’s important to note that the analytics platform has not definitively concluded that the trades are wash trading. It’s possible that the trades are legitimate and that the users are simply buying and selling the same asset multiple times.

The team at Blur has also weighed in on the issue, noting that they have implemented a number of measures to prevent wash trading. These include a “Know Your Customer” (KYC) process, which requires users to provide proof of identity before they can trade on the platform.

At the end of the day, it’s impossible to know for sure whether the trades on Blur are legitimate or the result of wash trading. But it’s clear that the issue is being taken seriously by both the analytics platform and Blur, and that steps are being taken to ensure that the trades are legitimate.

For now, the only thing that’s certain is that the NFT market is still relatively new and that there are still a lot of unknowns. It’s important to keep an eye on the situation and to be aware of the potential risks associated with trading in this space.