Can you imagine selling a $300k NFT for $3k by accident?

in #leofinance5 months ago

big oof.

Man, I couldn't even imagine owning an NFT worth $300,000. I'm not rich so it's hard for me to imagine this level of fuck up. Don't get me wrong, I've made a lot of fuck ups in my 27 years on Earth but man... Yesterday someone accidentally sold a BAYC (Bored Ape Yacht Club) NFT for 0.75 ETH instead of 75 ETH.

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original source

The fuck up

So - NFT collector/trader maxnaut.eth is a very active NFT trader as you can see if you look at his Opensea wallet for just a second. 415 NFTs in his collection, and the activity tab is madness. hundreds of thousands of dollars moving around like it's nothing on different NFT projects. Buying and selling every day. The beautiful thing about the blockchain is - we can go and look at the fuck up in all its glory on the account activity. This isn't to call him dumb or anything - it's just an example of why you should double, triple, and quadruple check EVERYTHING before confirming in Metamask or whatever wallet you use.

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So right here you can see - a listing for 0.75 ETH and a nearly instant buy for 0.75 ETH. More than likely, this buy was executed by a scraping bot. These bots are used for all sorts of things like shoe releases, or other limited release items. What the bot does is scan or scrape the market constantly and executes buys of NFTs or items that appear below a certain price threshold set by the user. Bam - bot sees a Bored Ape for 0.75 ETH and instantly buys it with an insane gas fee to make the transaction settle as fast as possible. That's exactly what happened here. The bot paid $31,000 or 8.5 ETH as a gas fee.

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Looking at the transaction in Etherscan is pretty wild. So this lucky guy that set the NFT scraping bot up ended up paying like $35,000 for a Bored Ape NFT that he's probably going to flip for a cool $250,000 worth of ETH in profit. Or maybe he'll sit on it and sell it for a million. Who knows? Well I guess the blockchain knows at some point lol. Taking a look at the lucky new owner of the Bored Ape 0xc51a41b5d1b4ddf3494ba31a37d54960808729d2is pretty interesting. Mainly because it's a rather small account in comparison.

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Still a very active NFT trader but not doing hundreds of thousands per day. At least not yet. Maybe now they will be. This is literally life changing money right here. Merry Christmas dude.

I can't even fathom that kind of loss

Imagine you're maxnaut.eth and you realize what happened. Instead of listing for 75 ETH you listed for 0.75 ETH and it was already sold by the time you noticed. You've suffered a loss that would literally break some people. Not like only financially, but mentally. Losing money of any amount can be hard to cope with, but this is like life changing. That scar will never fully heal. It will be there forever on the Ethereum blockchain. The good thing for this guy is - I don't think he will be hurt financially very much based on his collection. He is also coping well with the mistake it seems.

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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

He said something here that hits really deep. It doesn't have to do with only money. Many things in life are going to happen that you are going to dwell on. The point is that you don't have to. You're only hurting yourself more. It's like ripping off a band-aid really slowly but it never finished coming off... Do not beat yourself up over the past. Learn. Grow. Be a better person. People fuck up for a reason.

Could you imagine if you did this?

Have a day frens.


Thanks for reading! Much love.

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Imagine buying a NFT for $300,000 based on pure speculation. IDK I just don't get that side of the NFT market and to me one that that cash grab market is going to explode in a very negative way.

I completely agree. These cult like NFTs that sell for insane amounts of money are probably just people laundering money and shit. But there's no shortage of people buying them.

Oh totally but at some point it has to catch up with you right? lol

I guess not in the crypto world

That would be so sad, I can't imagine that happening.

If it happened to me, I am mourning for weeks because what the heck.

Damn, as I was saying this to my colleagues they're like "Oh yeah, it was on the BBC yesterday" lol

Then another walks in and says "Oh guys do you know yesterday someone sold a Bored Ape Yacht Club for..." and we were just talking about it ahhahaah

Madness, poor guy, but well he's an active trader so a little loss is not gonna do him any bad (I hope lol)