Bored Ape Yacht Club’s (BAYC) non-fungible tokens (NFTs) are some of the most expensive and well-known NFTs around and one of them was accidentally sold for $3,015 (approximately Rs. lakh rupees). Roughly Rs 2.27 crore). The owner of the NFT, known by the name Max or the username, ‘maxnot’, wanted to list his bored app NFT for 75 Ether, listing it for 0.75 Ether, which is about one-hundredth of the actual price. was part. Because of “lack of concentration”.
The buyer who bought the NFT for $3,015 (approximately Rs 2.28 lakh) listed it online for $248,000 (approximately Rs 1.87 crore). who are over cnet Those who spoke to Max about the incident believe that it was bought by a coded bot to find NFTs below a certain price range.
A seller mistakenly listed the price of this Rugged App NFT as 0.75 ETH instead of 75 ETH. It sold out within seconds.
The difference between $300,000 and $3,000.
— Morning Brew ️ (@MorningBrew) December 13, 2021
“How did this happen? I think a lack of concentration,” Max told the publication. “I list a lot of items every day and was not paying attention properly. I immediately saw the error as soon as my finger clicked the mouse, but a bot sent a transaction with more than 8 ETH. [$34,000 or roughly Rs. 25.67 lakh] of gas charges, so it was immediately stripped before I clicked cancel, and just like that, $250K was gone. ,
Many celebrities and influencers have jumped on the boring app bandwagon, helping to fuel the trend. Jimmy Fallon, Post Malone, Steph Curry and Mark Cuban are some of the celebrities who have embraced NFTs. Celebrities like Timbaland, NBA star Shaquille O’Neal, and free agency NFL wide receiver Dez Bryant join the wide list of celebrities who have embraced the bored ape craze.
Unlike fat finger errors that occur in bank transactions, which can be easily reversed if the relevant authorities are informed, fat finger errors within the cryptocurrency space, which is decentralized, often mean that you have to reverse the loss. Can do very little.
“Since the field is so new, terrible things will happen, whether it’s your fault or the technology’s fault. Forget it and move on once you don’t have control over the outcome,” Max told CNET.