10:22PM
- The seller of Bored Ape #3,547 accidentally listed the NFT for sale at 0.75 ETH ($3,000) instead of 75 ETH ($300,000)
- An automated buyer immediately purchased the NFT and relisted it at about $250,000.
- The Bored Ape Yacht Club series is a limited set of 10,000 NFTs that usually sell for about $200,000.
A highly coveted Bored Ape non-fungible token sold for just over $3,000 – one-hundredth of its intended market price of about $300,000.
The owner of Bored Ape #3,547 made a “fat fingered” typing error when listing the NFT online, according to CNet. Instead of selling it for a price of 75 ether, a “lapse of concentration” spurred the owner to sell it for 0.75 ether instead.
An automated account immediately bought the NFT and put it back on sale for nearly $250,000.
A similar mistake in a banking transaction can usually be remedied. But in the fast-paced and unregulated crypto market, an error like this is usually irreversible, especially as automated, instantaneous purchases pose constant threats.
The Bored Ape Yacht Club series is a limited set of 10,000 pieces of “programmatically generated” digital art, launched in April 2021.
Initially, customers could buy one for a little over $300. Now, Bored Apes usually sell for at least 50 ETH, or about $200,000, and proud owners post them to social media or use them as their Twitter profile pictures.