You would hope that insider NFT trading is not a thing but, apparently, it is.
OpenSea, an online crypto marketplace that has been dubbed the “eBay of NFTs,” has admitted that one of its top executives has been buying and selling the digital collectibles using insider information from its site.
Of the forums that allow you to buy and sell said crypto-art, OpenSea is one of the most prominent, hosting billions of dollars worth of non-fungibles transactions on its platform on any given month. The company, which recently raised tens of millions of dollars to expand its platform, regularly features certain collections and creators on its homepage, allowing visitors to view and purchase them.
However, the platform’s head of product, Nate Chastain, has apparently been making investments in many of these collectibles prior to their public release.