Man Mistakenly Sells $300,000 Bored Ape NFT For $3,000

KEY POINTS

$300,000 NFT sold for $3000
A man made a fat-finger error
The NFT was bought as soon as it was listed

A man named Max sold $300,000 worth Bored Ape NFT, tagged as one of the most prestigious NFTs in the world, for $3000 owing to a"fat-finger" error.

Max, username maxnaut, had meant to price the NFT at 75 ether (around $300,000), but accidentally typed 0.75 ether (roughly $3,000). Before he could correct the mistake, the NFT was taken by a bot programmed to find and buy undervalued listings. The buyer wasted no time snapping it up, even paying a higher transaction fee.

“I list a lot of items every day and just wasn’t paying attention properly. I instantly saw the error as my finger clicked the mouse but a bot sent a transaction with over 8 eth [$34,000] of gas fees so it was instantly sniped before I could click cancel, and just like that, $250k was gone," Max told CNET.

While fat-finger errors are common in the field of finance and financial institutions reverse the transactions in such cases, Max can't expect to get his cash back. This is because cryptos and NFTs are designed to be decentralized and rely on the goodwill of the buyer to reverse the transaction.

Bored Ape Yacht Club (BAYC) NFTs are a collection of 10,000 unique bored apes created by Yuga Labs, with owners including celebrities like Jimmy Fallon and Steph Curry.

A similar incident took place in August when a person accidentally listed their Bored Ape for $26,000 and saw it be flipped for the then market price of $150,000, as per the CNET report.