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Machi Brother Has Sold More Than 60 NFTs Over the Past 6 Months, Losing More Than 1,000 ETH

On October 28, on-chain analysis platform Lookonchain posted that Machi (@machibigbrother, that is, Jeffrey Huang, also known as Machi Brother) sold more than 60 NFTs over the past 6 months to raise funds for high-leverage perpetual contract trading, with cumulative losses exceeding 1,000 ETH (about $2.35 million at the time).

Lookonchain attached an OpenSea activity page link for reference. This statement is based on on-chain monitoring and does not further break down the specific composition of losses from the NFT sales themselves versus the contract trading losses.

Previously, public reports had already shown that Jeffrey Huang repeatedly sold NFTs such as Bored Ape and Mutant Ape, using the proceeds to maintain high-leverage ETH long positions on Hyperliquid and other platforms, with some trades coming close to liquidation.

Original sources:

  1. Title: Machi (@machibigbrother) has sold over 60 NFTs in the past 6 months to fund high-leverage perp trades, taking a loss of over 1,000 $ETH ($2.35M). Publisher: Lookonchain (@lookonchain) Publication date: 2026-10-28 URL: https://x.com/lookonchain/status/2115272715561234713 Source type: Original post from an on-chain analysis platform Verification status: Full text actually read this time, verified on 2026-10-30 Supporting content: the monitoring statement that he sold more than 60 NFTs over the past 6 months, used them for high-leverage perpetual contract trading, and lost more than 1,000 ETH (about $2.35 million), as well as the OpenSea link

  2. Title: Jeffrey Huang Has Sold Over 60 NFTs in the Past Six Months, Losing More Than 1,000 ETH Publisher: PANews Publication date: 2026-10-28 URL: https://www.panews.io/articles/01a18063-e2c0-740a-bec8-77d72cced572 Source type: Media report Verification status: Full text actually read this time, verified on 2026-10-30 Supporting content: a restatement of Lookonchain's monitored content, confirming the sale count and loss scale

ABAB AI Insight

Jeffrey Huang (Machi Brother) is a publicly visible wallet holder who has long been active in NFTs and high-leverage trading, and his on-chain activity is often tracked by platforms such as Lookonchain. This monitoring shows that over about 6 months, he raised funds by selling more than 60 NFTs, put them into high-leverage perpetual contract trading, and accumulated losses of more than 1,000 ETH.

Public reports show that the related NFT sales included blue-chip series such as Bored Ape Yacht Club and Mutant Ape Yacht Club, with some holdings kept for years and sold below the purchase price, and the ETH proceeds were used to maintain ETH long positions on platforms such as Hyperliquid. During some periods, the positions came close to liquidation prices, showing the ongoing need for liquidity in leveraged trading.

This pattern reflects the behavior of NFT holders monetizing collectibles to support derivatives positions amid market volatility. The loss figure was given by Lookonchain and does not separately distinguish between discounted NFT sales and contract trading losses. The observation indicator is whether subsequent OpenSea or other on-chain records continue to show his NFT selling activity, as well as whether the related high-leverage positions are maintained or further adjusted.

ABAB News · Cognitive Law

  1. Repeatedly selling blue-chip NFTs to raise trading funds reflects the transfer of liquidity from collectibles to derivatives positions.

  2. High-leverage perpetual contracts amplify the impact of price volatility on realized and unrealized losses.

  3. The cumulative loss figure given by on-chain monitoring is not the result of an independent audit of a single trade or a specific asset.