cryptopotato.com
While mistakes are investable, some are costlier than others, and this one has cost an $NFT holder $54,000.
After minting the Mutant Ape #5275 $NFT hours ago, the holder then tried to sell it on OpenSea, but the deal did not go as he would have wanted. Instead of selling his Ape for $54,000, the owner mistakenly sold it for $17, which is 99.9% below a floor price of 7.95 $ETH ($24,200).
$17 Instead of $54k
Most digital collectibles on OpenSea and other Ethereum-based $NFT markets are generally priced using $ETH. As a result, the owner thought the offer on his $NFT was 17 $ETH ($54,000), and he accepted it without knowing that the offer was just $17 in USDC stablecoin.
OUCH owner of the Mutant Ape 5275 fell for the old usdc bid trick pic.twitter.com/vTX4VGP4X1
— wawin (@wawin) August 29, 2021
Mutant Ape Yacht Club (MAYC) is a collection of 20,000 Mutant apes which can be created either by minting it in public sale or by exposing existing Bored Apes to a vial of Mutant Serum.
According to Bored Ape Yacht Club (BAYC), the project behind the Bored Ape and Mutant Ape $NFT collections, the MAYC is used for rewarding ape users with a mutant version of their Bored Apes.
Over 10,000 Mutant Apes were made available to the public via Dutch auctioning. BAYC said the minting price started at 3 $ETH and gradually reduced to 0.01 $ETH over the course of 9 hours.
According to data on Etherscan, the holder of the Mutant Ape #5275 spent about 2.87 $ETH ($9,100), including fees, to mint the $NFT before mistakenly selling it for a mere $17 and not for 17 $ETH as he had thought. Interestingly, the user who purchased the $NFT has resold it for 5 $ETH, making a profit of more than $15,900 in less than three hours.
While the original holder is probably counting his losses, members of the crypto community believe OpenSea should have a fail-safe system in place to alert users whenever they try to sell their digital art significantly below the floor price.
NBA Star Stephen Curry Buys a Bored Ape
Meanwhile, in another development, CryptoPotato reported earlier that three-time NBA champion Stephen Curry joined the $NFT bandwagon after purchasing a rare Bored Ape for $180,000. Interestingly, one of the rarest apes was sold for $1.3 million yesterday.
* Featured image courtesy of OpenSea