Bored Ape Yacht Club NFTs Sold at Loss as Machi Big Brother Faces Liquidation

Renowned NFT collector Machi Big Brother has reportedly used funds from selling Bored Ape Yacht Club (BAYC) NFTs to support his ETH long position on Hyperliquid. According to data from LookintoChain, Machi sold a total of 34 BAYC NFTs over the past month, netting 326 ETH (approximately $514,000). However, this sale resulted in a loss of 399 ETH (approximately $631,000) for Machi. Notably, one of his largest losses came from selling Bored Ape #6057, which he bought four years ago for 76.84 ETH and sold recently for only 7.65 ETH, representing a loss of around 90%. This sale also highlights the volatility in the NFT market.

Machi's ETH long position on Hyperliquid has faced multiple liquidations, with LookintoChain stating that he was liquidated again about 3 hours ago. As of now, his current account balance is approximately $81,000. The data suggests that Machi may have been using the funds from selling BAYC NFTs to support his ETH long position on Hyperliquid.