Whereas errors are inevitable, some are costlier than others, and this one has price 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. however the deal didn’t go as he would have needed. 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 As a substitute of $54k
Most digital collectibles on OpenSea and other Ethereum-based NFT markets are generally priced using ETH. Consequently, the proprietor thought the supply on his NFT was 17 ETH ($54,000), and he accepted it with out realizing that the supply was simply $17 in USDC stablecoin.
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.
In accordance with Bored Ape Yacht Membership (BAYC), the venture 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 had been made accessible to the general public through Dutch auctioning. BAYC said the minting price started at 3 ETH and gradually reduced to 0.01 ETH over the course of 9 hours.
In accordance with information on Etherscan, the holder of the Mutant Ape #5275 spent about 2.87 ETH ($9,100), together with charges, to mint the NFT earlier than mistakenly promoting it for a mere $17 and never 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.
Whereas the unique holder might be counting his losses, members of the crypto neighborhood 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. Apparently, one of many rarest apes was offered for $1.3 million yesterday.
