NiftyNoon: Was @HanweChang's Bot Maneuver Ethical?

A heated debate has taken over NFT twitter as HanweChang outsmarts an NFT bot attempting to copy his bids (August 7, 2023)

Nifty Thought

• NFT Twitter has been debating the ethics of a recent move made by HanweChang. In short, Hanwe noticed a bot was copying his Blur bids. He then tactically baited the bot into placing a niche trait-specific bid for Azuki resulting in the bot placing 50 ETH bids on Azuki NFTs that would typically sell for 1/10th of that price. In total, Hanwe earned $1.5 million due to the botter’s mistake. Many have argued that abusing the bot’s error is unethical and borderline theft. However, it is my opinion that Hanwe’s maneuver was fair game. The bot following his bids was designed essentially to take his prospective profits and deliver them to the bot’s creator in a zero sum game. They put themselves into direct opposition against Hanwe and lost. If they were willing to create the bot and accept the upside of winning, they should be prepared to accept the downside of losing. With all of this being said, it is always sad to see anyone lose this much money over a simple mistake. I empathize with the large financial loss this bot creator is experiencing and wish them all the best for the future.

• Nonetheless, this serves as an excellent lesson for the entire space. It is crucial to always be careful when deploying large sums of money, particularly when that deployment is automated. Furthermore, there are many inherent risks underlying the NFT and crypto space as a whole. Being mindful of those risks is paramount in seeing sustained success in the long run. There is no “moon” upside without a significant downside to match.

Highlighted News

• HanweChang outsmarts NFT bot attempting to copy his bids, making an 800 ETH profit:

  

  https://twitter.com/hanwechang/status/1687882759774072832?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• $300,000 USD worth of Azuki’s drained from wallet:

  

  https://twitter.com/0xcygaar/status/1687852821331185664?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Cryptopunks meetup event taking place September 30th in Charleston:

  

  https://twitter.com/cryptopunksnfts/status/1687529747679490048?s=20

Project and Community News

• Beeple shares Cryptopunks meetup event details:

  https://twitter.com/beeple/status/1687526129719005191?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Google Ads phishing scams are out of control:

  https://twitter.com/zachxbt/status/1687665956590432258?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Meta_Winners updated the art on REKT, removing Doodles subject to receiving a take down request:

  https://twitter.com/meta_winners/status/1687176941831340032?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• VeeFriends introduce the VeeFriends x @reebok Aspiring Alpaca Classic Nylon:

  https://twitter.com/veefriends/status/1687101478090297345?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Doodles x Crocs Arriving August 2023:

  https://twitter.com/doodles/status/1687511004282855426?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Doodles share further August project developments:

  https://twitter.com/jholguin/status/1687564046541680640?s=20

• Little Lemon Friends zipping towards a completed acquisition:

  https://twitter.com/littlelemonsnft/status/1688218656994385921?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Cool Cats presents info for holders to claim a FuturePass:

  https://twitter.com/cloncast/status/1687548441952665600?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Manifold introduces Manifold Audiences:

  https://twitter.com/manifoldxyz/status/1687552854150774784?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• The third artist of the Velocity Series is @ArtOnBlockchain:

  https://twitter.com/artonblockchain/status/1687132492317212673?s=46&t=NHmkLu-SpO2S2CLwsSlDcw

• Pindar Van Arman tweets about Kickstarter YT video claiming he did not upload:

  https://twitter.com/VanArman/status/1687665700410728448?s=20

• So why is Tether selling off?:

  https://twitter.com/adamscochran/status/1687959096316542976?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Luca from Pudgy Penguins on value of building a globally recognized brand:

  https://twitter.com/lucanetz/status/1687942058755940353?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• CryptoPunk #3307 bought for 500.00 ETH (916,799.99 USD):

  https://twitter.com/punkssalesbot/status/1687423795827822592?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Quick Stats:

• Blur ETH Daily Volume: 2,518 ETH (▼ 43.59%)

• OpenSea ETH Daily Volume: 1,375 ETH (▲ 7.84%)

• BTC: $29,024.42 (▼ 0.13%)

• ETH: $1,832.92 (▲ 0.03%)

• Solana: $23.09(▲ 0.32%)

• Polygon: $0.67 (▼ 0.11%)

NFT Daily Winners:

• 🏴‍☠️ Captainz: 4.59 ETH (▲ 8.25%)

• 🌈 Doodles: 1.54 ETH (▲ 3.15%)

• 👩🏻 Milady Maker: 3.57 ETH (▲ 3.07%)

• 🧟 Mutant Ape Yacht Club: 5.64 ETH (▲ 3.03%)

• 🦉 Moonbirds: 1.56 ETH (▲ 2.30%)

• 🧬 Clone X: 1.49 ETH (▲ 2.13%)

• 🚬 CryptoPunks: 47.90 ETH (▲ 2.07%)

• 🦧 Bored Ape Yacht Club: 29.16 ETH (▲ 0.90%)

• 🐧 Pudgy Penguins: 4.16 ETH (▲ 0.70%)

• 🏳️‍🌈 Chromie Squiggles: 10.49 ETH (► 0.00%)

• 🐈‍⬛ VeeFriends: 1.83 ETH (► 0.00%)

• ⛰️ Otherdeeds: 0.60 ETH (► 0.00%)

NFT Daily Losers:

• ⛩️ Azuki: 4.90 ETH (▼ 0.36%)

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