It looks like this lucky non-fungible token (NFT) buyer may have scored big time.
According to BBC News, the Bored Ape Yacht Club limited NFT sold for a little more than $3,000, about one-hundredth of its normal market price. The owner of the Bored Ape number 3,547 made quite the mistake after listing the item for sale online at such a low cost.
The Value
The Bored Ape Yacht Club NFT is a limited run of 10,000 pieces of digital art. Each piece has small differences that make them unique. As previously reported by AfroTech, rapper Future recently made headlines when he purchased one of his own.
At question is Bored Ape number 3,547 after it was listed at a price of $3,000 versus the intended $300,000 that it should have been put up for. Despite not being able to correct his mistake, someone did capitalize off of the move after an automated account quickly swiped up the collectible and put it back up for sale at close to $250,000.
It also looks like the suspected-bot buyer went through great lengths to ensure that the transaction was processed quickly by paying extremely high “gas” fees which determine just how fast the Ethereum (ETH) network processes a transaction.
In this case, that was 8 ETH, worth $32,000, to make sure that the transaction for Bored Ape number 3,547 went through swiftly.
The Mistake
The original seller says that a “lapse of concentration” caused him to list Bored Ape number 3,547 for sale at 0.75 ETH ($2,989) versus the normal cryptocurrency amount used for most NFT trades which in this case should have been 75 ETH.
“I instantly saw the error as my finger clicked the mouse but…it was instantly sniped before I could click ‘Cancel’- and just like that $250,000 was gone,” said the seller in an interview.
It looks like this seller will triple-check before making a mistake like this in the future.
