How much money have you ever lost because of a mistake? It’s unlikely to be in the hundreds of thousands of dollars. But that’s exactly what happened to one unhappy person over the weekend, who sold a Bored Ape NFT for $3,000 instead of $300,000 due to a missed decimal point.
On Saturday, the NFT’s owner, Maxnaut put the NFT up for sale. Max, who defines himself as a “solo-traveller, bored ape, marketing agency owner, and NFT investor,” had intended to price the NFT at 75 ether (approximately $300,000), but had typed 0.75 ether (about $3,000) instead.
The NFT had been snatched up before they could remedy the error, apparently by a computer intended to identify and acquire discounted listings. On the market, you can see the drama unfold.
That’s what Max said. “Every day, I make a long list of things and wasn’t paying attention.” As soon as my finger hit the mouse, I noticed the issue, but a bot made a transaction with over 8 eth [$34,000] in gas costs, so it was sniped before I could cancel, and $250k was gone.”
Even after the huge loss, Max posted a positive Tweet saying “Sometimes you make a bad buy, out of gas fail, send Eth to the wrong wallet or fat finger a listing. It’s going to happen. But, letting it occupy your mind for even one second after you can no longer affect the outcome is purely hurting yourself twice.”
In the financial industry, these kind of “fat-finger blunders” are well-known. In 2015, for example, a young Deutsche Bank employee made an error in their computations and delivered $6 billion to a hedge fund client.
No Way To Claim Money Back
There’s no way for Max to get his money back. The fact that the NFT he sold was part of a particularly significant collection doesn’t help matters.
Some people even mocked him for his mistake on the microblogging site.
While some users praised him for being in composure after the loss.
There are 10,000 Bored Apes around the world, each of which combines various features to create a portrait that resembles a mid-2000s gaming avatar.
However, NFTs aren’t about the artwork’s quality; they’re about conjecture and perceived value. And celebs such as Jimmy Fallon and Steph Curry are among the owners of the Bored Ape NFTs. They were originally sold for 0.08 ether, or roughly $320, but are now worth millions of dollars.
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Image Credits: iStock