A Bored Ape NFT was accidentally sold for a fraction of its actual value over the weekend.
What Happened: On December 11, the seller of Bored Ape #3547 mistakenly listed the NFT for sale at a price of 0.75 Ethereum (CRYPTO: ETH) or $3,000 instead of 75 ETH worth $300,000.
"How'd it happen? A lapse of concentration I guess," the seller, Max, told CNET.
After being listed for one-hundredth of its intended sale price, the Bored Ape NFT was instantly acquired by an opportunistic buyer with the help of a bot.
"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 [$34,000] of gas fees, so it was instantly sniped before I could click cancel, and just like that, $250k was gone," Max said.
Earlier this year, a similar “fat finger” trade led to the sale of a CryptoPunk NFT for $19,400 instead of $19 million.
Unlike traditional financial markets, the world of decentralized finance and NFTs isn’t forgiving when it comes to reversing erroneous transactions. The only way to reverse this transaction would be for the buyer to return the NFT out of his own goodwill.
Although in Max's case, the buyer appears to have listed the Bored Ape NFT on OpenSea for a price of 85 ETH or $321,000.
Related Link: This Bored Ape NFT Just Sold For $249,304 in ETH
Photo: Courtesy of boredapeyachtclub.com
