One missed click – the Bored Ape Yacht Club NFT that lost $250k
NFTs and blockchain have always been lauded for their provably transparent transactions – and pricetags. But, for one Bored Ape Yacht Club NFT holder – one missed click spelt the difference between profit and a staggering loss.
The BAYC NFT owner, Max, has initially planned on putting his asset up for sale on the marketplace, with their mind on a fast sale. The pricetag? 75 ETH, or over $300,000. But, in what was described by other outlets as ‘fat finger error’, Max typed out .75 ETH, or $3,000.
With a highly active marketplace that includes mainstream personalities like Steph Curry and Post Malone, the NFT was spotted and bought up instantly. What’s more, the buyer, having clocked the killer deal, spend a further $32,097 for a faster transaction.
Well, when considering that the slip of the fingers gave the buyer a $297k markdown, the extra transaction costs seem small in comparison.
Of course, this isn’t the first instance of human error leading to a painful loss. On the CryptoPunks market, for example, one user accidentally listed their NFT for $19,000 instead of their intended $19 million price.
With so many moving parts still involved in the NFT marketplace, there are likely more of these that happen that go unreported. And, as NFTs become more commonplace – we’ll likely be seeing more of them in the future.