In a transaction that is set to go down as one the most hilarious in the history of NFTS, an NFT holder has mistakenly sold a Bored Ape Yacht Club (BAYC) NFTs worth 75 Ethereum for 0.75 Ethereum.
Currently ranked as one of the most expensive and well-known NFTs globally, the transaction means the trader sold an NFT worth around $300,000 for just $3,015, based on the current market value.
Reacting to the development, the holder of the NFT who identified as Max told CNET that it was due to a significant and momentary lapse of concentration.
“I list a lot of items every day and just wasn’t paying attention properly. I instantly saw the error as my finger clicked the mouse but a bot sent a transaction with over 8 ETH of gas fees so it was instantly sniped before I could click cancel, and just like that, $250,000 was gone,” he added while explaining how the unusual transaction that made him lose thousands of dollars happened.
Max’s mistake becomes more costly when analysed from the view of how valuable the Bored Ape Yacht Club NFTs has become, including its recent surge in popularity amid the burgeoning NFT scene.
Last month alone, NFT marketplace OpenSea saw trading volume double after BAYC sales spiked by as much as 900%.
This has been partly fuelled by a wave of celebrities and influencers jumping on the Bored Ape bandwagon. Household names like Jimmy Fallon, Post Maline, Steph Curry, and Mark have all embraced these NFTs.
However, despite the loss, Max appeared to be taking the news rather well. “The industry is so new, bad things are going to happen whether its your fault or the tech. Once you no longer have control of the outcome, forget and move on,” he concluded.
Published December 13th, 2021