Spoofs, Wash Sales, and the Coase Theorem of NFTs

Community Based Verification

Overall, while last week’s spoofs and wash sales are not good for the legitimacy of the Punks NFT market, they go to show that the community offer high quality, quick and free validation of large suspicious bids in the network. The ETH can be traced, especially for “flash loans,” but more importantly someone will do it, gladly.

Efficient Ownership

What does any of this have to do with Coase, and his theory of efficient asset allocation?

Collateralized JPEGs

Some collectors, of course, will not want to sell. But nor will they want to keep working in the salt mines for USD, while their NFTs are valued by the market in the six and seven figures.


None of this is investment advice. Entertainment purposes only.



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Nikolai Yakovenko

Nikolai Yakovenko


AI (deep learning) researcher. Moscow → NYC → Bay Area -> Miami