The NFT world has introduced a variety of creative methods for acquiring and selling digital assets, sparking a debate on the ethics of NFT Sniping. To understand this controversial practice and how it impacts the market, it's essential to explore the concept of NFT Sniping and its pros and cons.
What is NFT Sniping and How it is done? NFT Sniping refers to the practice of hunting rare, undervalued NFTs and acquiring them at low costs before their prices rise. NFT Snipers, known for their speed and strategy, utilize various tools to identify and capitalize on these opportunities.
Tools Used in NFT Sniping:
- NANSEN: A market analysis tool that tracks real-time price variations, demand, and supply of tokens.
- ICY.TOOLS: A research tool that allows users to set price alerts and token alerts, and track rare and trending tokens.
- ETHERSCAN: A blockchain explorer that provides accurate pricing information for Ethereum and other NFTs available on the blockchain.
- CUSTOM BOTS AND BROWSER EXTENSIONS: Examples include MoonCatcher and NFT Hunter, which offer customizable features and automation for NFT Sniping.
Some NFT Snipers have formed private communities to share crucial information and discuss strategies. However, not everyone supports the use of NFT Sniping tools. Critics argue that these tools can manipulate market prices and create hostile conditions for other participants.
The future of the NFT Market remains uncertain, as it is less governed by supervisory bodies. NFT Sniping has undoubtedly helped its practitioners acquire rare tokens, but it has also attracted criticism for its potential ethical implications. As the market continues to evolve, the impact of NFT Sniping on the long-term trajectory of the NFT space remains to be seen.
