NFT scandal in football! Ajax accused of insider trading

We already had a chance a while ago to talk to you about it very rareOnline fantasy football where players are NFT for exchange.

Since its launch, the platform has gained incredible popularity, but as it always happens along with success also the first to arrive controversy.

Specifically players Ajax They ended up at the center of the controversy being accused of “insider trading”, i.e. using inside information related to training in the field and specifically in order to get a greater profit from selling NFTs from Sorare.

This is amazing NFT Fantasy Football In fact, it is completely identical to the classic mode, where points are accumulated based on the performance of players on the field and real money is earned by participating in tournaments and tournaments. This is just to affect the market value of NFT from Sorari Real player performances as well as ownership or non-ownership of the matches play as well.

At this point the problem arises from the fact that the players know confidential information about the exercises, In addition to the physical health of their team, they know before others when to buy or sell a team NFT . resource Because the player will appreciate or increase in value.

Two Ajax players accused of ‘inside trading’ with Sorare’s NFT assets

The story that sees players as heroes Daley Blind And Davy Classen It takes place a few days before the final of the Netherlands Cup, which was held on April 17 between Ajax and psv.

The official line-up for the match gave the Cameroonian goalkeeper Andre Onanabut the players knew, as information kept to them, that in fact in that match, entering the stadium would be between posts Martin Stekelenburgwho has just recovered from a severe groin injury.

Daley Blind and Davey Klassen, who knew it as Ajax members Exclusive informationwas put up for sale on Sorare gli NFT of Onana and bought those of goalkeeper Stekelenburg, knowing that a change of formation and the return of the former Roma goalkeeper between columns would have made Onana’s Non Fungible Token go down in value in place of the new owner.

In fact, this practice is called “insider trading” Which is a crime, in general, the problem is that, in the absence of any form of regulation of cryptocurrency trading and NFT, in fact, the two Ajax players did not do anything illegal.

Ajax may not be an isolated case: The insider trading problem with NFTs

very rare It is an online fantasy football game that runs on Blockchain and where market transfer It occurs with the trading of NFT assets to players.

The platform, which has only been around for three years, has 1 million subscribers with an estimated value of more than 4 billion euros.

Start with a minimal team 5 players NFT You can participate for free in tournaments organized on a regular basis where there is real money at stake.

The NFT from Sorari They are very popular and some are now worth several thousand euros, but since they are crypto resources born to play fantasy football, their market value also changes based on the real performance of players when they enter the field. It is clear that ownership on the ground plays a role that is not second-class.

So the fear is that Ajax More than just a separate episode, it becomes a practice that players can actually use the inside information they know about, on physical health and team formation for example, in order to make the game more profitable. trade With Sorare NFTs. The blame for this is the complete lack of regulation that governs crypto assets.

The truth is that players at least at the highest levels should also be prevented from participating in Sorare, as is the case with betting, since they have inside information that allows them to significantly influence the trading. Also due to the popularity of Sorare, some NFT . resources have arrived Amazing numbers.

YouTube channel “ALL ABOUT SORARE” It gives us an explanation of how Sorare works and also a guide on how to take the first steps in Fantasy Football NFT:

The Problems Dominating the World of NFTs: Insider Trading, Trade Laundering and Plagiarism

The case exploded over NFT from Sorari Who sees Ajax players as champions once again highlights a series of problems related to the use of Non-Fungible Code for truly illegal activities.

The one that both players committed Ajax It is a blatant case of insider trading, but two other problems that constantly plague the NFT market are “Plagiarism” and the Laundering Trade.

If insider trading consists of exploiting confidential information in order to profit from the sale of an NFT, then “trade laundering” is a practice that allows the originator of Non-Fungible Code To inflate the price and then resell it for an amount much greater than the true market value of the supplier.

On the other hand, plagiarism doesn’t need much explanation because the fact that mink nft, That is, the creation, which is very easy and at low cost, increases the risk of turning digital works into non-fungible code without the author knowing anything about it.

What is wash trading in the NFT market and how does it work

The wash trade It is a practice that allows the value of the NFT to increase significantly on the exchange platform where it is listed.

a NFT It might already be sell it Fixed price or at auction, the latter case is also the most common, because as it happens with physical artwork, the more bids there are, the more and more times the piece is sold at auction It also increases its value.

When you wash the circulation, the NFT generator opens on it exchange platform A series of other accounts are bidding upwards for the piece, often pretending to buy it at different crypto wallet addresses specifically in order to increase the auction value of the asset and hoping someone will buy it that has attracted such a huge value.

NFTs and plagiarism in digital art

Another issue gripping the NFT market, along with “trade laundering” and recent instances of “insider trading” involving Ajax, is The crime of plagiarism in art.

The NFT In fact, they divide the artist world into two, with an ever-increasing portion of digital artists choosing to release their collections in the form of indistinguishable code, and those who demonize them by identifying them as one of the main vehicles for plagiarism. There is a lot Artists who constantly complain about duplicating or even digitizing their work in order to create an unoriginal NFT and sell it without the author knowing anything about it.

The same open seaWhich NFT With the highest trading volume at the moment, he confirmed that at least 80% of the NFTs on the platform are not “A native”, But in a way it is attributed to an act of plagiarism against other artists.

Even removing these samples, the situation does not improve much, because the ease with which they can be created and NFT put up for sale It led to the removal of another similar piece to appear shortly afterwards in the list.

Collaborator in editing, born in 1984.
I have a degree in classical philology and a doctorate in ancient history fromUniversity of Naples Federico II, with a treatise on the fragmentary work of Asclepid de Tragello. I am an author Scientific Publications About the Classical World and co-editor of two international academic volumes. Since 2015, I moved to England where I worked as a freelance copywriter and casino dealer.
My motto is? “Naples is a flower of paradise. The last adventure of my life.”

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