A non-fungible token (NFT) collector sold his $1 million Clipart rock NFT for less than a penny by accident. Instead of 444 ETH, they listed their prized NFT for 444 Wei. One Wei equals one quintillionth of an Ether, which is the lowest unit of Ether.
EtherRock is a four-year-old NFT project that got viral last year for no apparent reason, causing its prices to surge. Etherrock is a collection of 100 cartoon pet rocks that have sold for millions of dollars and are based on free clipart.
A non-fungible token (NFT) is a crypto asset that uses the blockchain to track who owns digital content like a picture or video.
Clipart rock NFT was then priced at 234 ETH after it accidentally had sold for less than a penny. This NFT seller made a terrible mistake and resorted to Twitter to vent his misfortune and seek assistance.
The majority of the responses exhibited disbelief, with a dash of mockery thrown in for good measure. “The silver lining is that your entire net worth is no longer in a rock jpeg?” one Twitter user responded.
Due to a “fat-finger” typing error, a Bored Ape NFT was accidentally sold for a little over $3,000 (Rs 2.28 lakh) instead of $300,000 (Rs 2.28 crore) last year. It was too late by the time the owner realized the mistake.
“I instantly saw the error as my finger clicked the mouse but… it was instantly sniped before I could click ‘Cancel’ – and just like that, $250,000 was gone,” he told CNET.
A buyer bought the NFT right away. The buyer paid an additional $34,000 to accelerate the transaction and ensure that no one else could buy it before them. The Bored Ape then quickly listed for $248,000.
Bot sniping
Over the last year, bot sniping has become so common in NFT marketplaces that websites now provide bots to assist you to beat those who are a millisecond faster. To give you an example, one listing on the gig labor platform UpWork claims to sell an NFT sniping bot in various tiers for thousands of dollars. As a result, you can obtain a “competitive edge” if you’re “tired of being LAST” when buying NFTs.
Large venture capitalists, celebrities, and blue-chip corporations have doubled down on crypto investments in recent years. They are betting on the potential of cryptocurrencies and the quickly rising market for NFTs.
The NFT market is already worth tens of billions of dollars around the world.