Connect with us

Hi, what are you looking for?

Bored Ape Yacht Club

$300,000 Bored Ape Sold for $3000 Dollars Accidentally!

Bored Ape Sells for 3000

We’ve all made typos. Its so easy when you’re in a hurry, especially when you’re writing numbers. Misplace the decimal point here, add an extra 0 there. Yet, sometimes, those mistakes can cost a lot, especially when it comes to money.

That’s what a NFT seller, discovered recently, when a moment of distraction caused him to list a Bored Ape Yacht Club NFT he was selling for 0.75 Ethereum ($2,989) rather than the intended 75 Ethereum ($250,000).

Bored Ape #3547
Bored Ape #3547

The NFT in question, Bored Ape Yacht Club #3547, was instantly bought by a bot, before the horrified user barely had time to realize his mistake. Before he could cancel his mistake, the transaction had gone through, as the buyer had automated the bot to pay a high ‘gas’ price of 8 Ethereum ($32,000) – the fee that determines how quickly a sale goes through, meaning that the transaction was complete in a matter of milliseconds.

Unlike traditional banking, where the transaction could be reversed, sales made using cryptocurrencies like the Ethereum used to trade this NFT cannot be reversed, as the market largely goes unregulated, and therefore there is no authority to hold traders accountable. As a result, mistakes like this are all too easy, if rarely reported or widely known about.

The Bored Ape Yacht Club series of NFTs were released in April 2021 for an initial price of 0.08 Ethereum ($320 today), but now sell for a minimum of 50 Ethereum ($200,000). They are made by a computer script mixing and matching various designs, accessories, and colours to make each piece of art unique, referred to as being ‘programmatically generated’.

Also Read – Top 10 Most Expensive Bored Ape Yacht Club NFT’s Ever Sold

While enthusiasts rave about pieces and series such as The Bored Ape and the access owning one grants them access to exclusive clubs, community events, and online content, critics wonder whether NFTs are really worth their price tags. What of any actual value are buyers are receiving in return? Sceptics doubt whether the certificate of ownership that is stored on the blockchain (the technology that cryptocurrencies rely on) confirming proof of ownership are worthwhile.

That’s not to mention the superpowered, high speed computers that hold the whole crypto industry together and verifies transactions, including NFTs, which are powerful but also hungry. These computers use a lot of energy in the process, and in turn having a negative impact on the environment.

Whether you think NFTs and cryptocurrency are the next big way to make money and are building blocks to the future, or you think they’re just digital avatars with no real value and not worth the crazy prices that others pay for them, one thing is for certain: You’ll never make a typo quite as bad as Bored Ape 3547’s seller. Or at the very least, we hope if you do you can fix it in time, or else let $250,000 go to waste in a moment of stupidity. Whatever you do, double-check where your decimal place is in your price next time.

Want to create your Own Unique NFT collection like Bored Ape Yacht Club? – Whether if you are a professional artist or not, it really doesn’t matter as long as you got the perfect idea and a strong storyline, you can easily create your Dream NFT collection by hiring a Professional NFT artist on Fiverr.com. Check out the cool NFT gigs below!

Click to comment

Leave a Reply

You May Also Like

NFT

A Quick Intro to Bored Ape Yacht What is the Bored Ape Yacht Club? Its very simple, its punk rock at its finest –...

CryptoKitties

CryptoKitties have really become one of the most famous Crypto games played on the internet as people are not only enjoying the game but...

NFT

When first dipping your toe into the world of non-fungible tokens (NFTs), it’s great to discover there are a variety of different marketplaces available...

CryptoPunks

The sudden increase in punkish prices is mainly due to the increase in cryptocurrency prices, the increasing popularity of the NBA Top Shot Dapper...

NFT

For a lot of us, trading and flipping is something we’ve done since childhood. From comic books, stickers, trading cards to toys, anything we...

NFT

Its 2021 and there is a massive explosion of the idea so called Non-Fungible-Tokens, all over the world. While many people familiar with the...

NFT

Beeple, a name that sounds so Pokemon, and so was the Art world. Really, the art world before 2021 or before NFT was really...

NFT

Non-Fungible-Tokens or so-called NFT’s have literally shocked the art industry and paved a way for Artists and Digital Artists to make good money from...

Advertisement