Image credit – Yuga Labs
There is a lot of craze and hype surrounding NFTs at the moment. The idea that you could technically “own” a digital asset seems to be a rather novel factor for many, and as such, in recent times we’ve seen how many of these NFTs fetch pretty crazy amounts of money for what are essentially digital drawings.
That being said, it seems that someone owning a NFT from the Bored Ape Yacht Club might have lost out on a massive payday. According to a report from CNET, the owner of the NFT, Max, listed his NFT for 0.75 ETH. It seems that the initial plan was to list it for 75 ETH, but due to a typo, it was listed for a hundredth of what it was supposed to be worth.
Unfortunately for Max, the NFT was snapped up almost instantly where it fetched around $3,000 instead of $300,000 which was what he was hoping to get. It also seems that the person who snapped it up was a bot designed to scour marketplaces for undervalued NFTs, buy them, and resell them.
The bot even paid an extra $30,000 to help speed up the transaction process, which meant that even though $37,000 is no small sum, the fact that it could resell for close to $300,000 means that they’re still profiting at the end of the day.
Speaking to CNET, Max said, “How’d it happen? A lapse of concentration I guess. 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.”