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In the world of NFT trading, Franklin’s story has recently gained attention. With a series of tweets by the handle @web3bandit, Franklin’s trading journey and the ethical implications of his actions have come to light. Franklin’s trading practices have raised important questions about the ethical considerations in the NFT space, from fat-finger trading to market manipulation, agricultural exploitation and gambling. As the NFT community gathers for events such as #NFTNYC23 to discuss the future of the industry, it is crucial to reflect on the lessons learned from Franklin’s history and examine the ethical aspects of NFT trading.
Franklinhis trading journey is full of mistakes and questionable actions. He openly admits market manipulation with a deep apology “if it harms society”. He has been involved in Blur bidding, a technique used to manipulate floor prices on NFT pools, and has pumped a significant amount of ETH into online casinos that Roll bit and Dice2Win, even after the latter went down. Franklin’s actions raise several ethical concerns, including transparency, accountability, due diligence and the promotion of toxic behavior in the NFT trading scene.
Note: Watch out for these 2 online casino sites: Rollbit and Dice2win
An important lesson from Franklin’s story is need for accountability in NFT trading. As an industry that operates on blockchain technology, transparency and accountability are essential. Franklin’s lack of transparency in his actions, such as not publicly mentioning his involvement in online casinos, raises questions about the integrity of the NFT trading ecosystem. It is important for traders and investors to take responsibility for their actions and be transparent about their practices in order to build trust and ensure the long-term sustainability of the NFT market.
Another lesson from Franklin’s story is the importance of due diligence in NFT trading. Franklin’s actions, such as investing a significant amount of ETH in a defunct online casino without proper research, highlight the need for thorough due diligence before making investment decisions in the NFT space. Traders and investors should carefully consider the risks and potential returns of their investments and make informed decisions based on reliable information. Blindly following trends or the actions of others without proper due diligence can lead to costly mistakes.
Furthermore, Franklin’s story sheds light on the toxic behavior that is sometimes idolized in the NFT trading scene, such as market manipulation, gamblingand personality cults. The NFT community needs to re-evaluate the platforms and ideas being promoted and prioritize ethical trading practices. It is essential to foster a culture of responsible and ethical trading that values transparency, fairness and accountability. Mass education and awareness of ethical considerations in NFT trading should be encouraged and industry leaders should take the lead in promoting responsible trading practices.
Franklin’s story serves as an important reminder of the ethical considerations in NFT trading. Transparency, accountability, due diligence and responsible trading practices are essential for the long-term sustainability and growth of the NFT market. As the NFT community gathers to discuss the future of the industry, it is important to reflect on the lessons learned from Franklin’s history and strive for a more ethical and responsible NFT trading ecosystem.
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