Bored Ape Yacht Club Collector Sells $300K NFT For $3K Due To ‘Fat Finger Error’
Image via Yuga Labs
If you’ve dipped your toes into the NFT space, you’d have heard of the Bored Ape Yacht Club, arguably one of the most famous (and expensive) collections at the moment. In fact, it’s so popular that the cheapest piece you can get your hands on is worth 45 ether, or in fiat terms, US$170,000.
However, in an odd and rather unfortunate mess up, a collector accidentally sold their NFT for just US$3,066 last week. Although there were conspiracy theories as to the sale’s low price, it turns out the reason was a simple—though costly—“fat finger” mistake.
According to CNET, the owner Max had intended to list his Bored Ape for 75 ether, or nearly US$300,000, but mistakenly entered it at 0.75 ether instead. Before he could correct the error, the NFT was snapped up instantly, with the buyer even paying an additional US$34,000 to speed up the transaction.
It’s likely the new owner had set up a bot to immediately purchase any pieces below a certain price threshold. It was then re-listed to be sold, and is now going for US$330,000.
“How’d it happen? A lapse of concentration I guess,” Max told CNET.
“I list a lot of items every day and just wasn’t paying attention properly. I instantly saw the error was my finger clicked the mouse but a bot sent a transaction with over 8 ether (US$34,000) of gas fees so it was instantly sniped before I could click cancel, and just like that, US$250,000 was gone.”
In typical financial transactions, “fat finger” errors do happen, though it usually can be reversed if spotted in time. On the blockchain, it’s impossible to undo any sales, unless the buyer express goodwill and sells the item back to the owner.
This isn’t the first time such an error has cost collectors in the cryptocurrency trade. Last month, someone selling a CryptoPunk NFT accidentally listed the work for US$19,000 instead of US$19 million.
[via CNET, cover image via Yuga Labs]
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