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14th Dec 2021

Bored Ape NFT accidentally sells for $3000 rather than $300,000

Danny Jones

Bored Ape NFT sells for a hundredth of its market value

We still don’t get NFTs but plenty of people clearly do

A highly in-demand issue of the popular ‘Bored Ape’ NFT (non-fungible token) has accidentally been sold for just $3,000 (£2,270): one-hundredth of its actual market price.

‘The Bored Ape Yacht Club’ is a limited run of 10,000 pieces of digital art, each with minor variations that make them sought after NFTs. However, as reported by CNet, the owner of issue number 3,547 made a “fat-fingered” typing error when listing the item for sale online.

Intending to list for its actual price of 75 ethereum (ETH) – the cryptocurrency commonly used in NFT transactions – seller ‘maxnaut’ accidentally listed the piece for sale at 0.75 ethereum after a mere “lapse of concentration”, meaning that instead of getting nearly $300k he ended up with just $2,989. That’s approximately £2,259.58 in sterling. That’s got to be hard to take.

Naturally, the token was bought in less than a heartbeat and then quickly relisted on OpenSea (the world’s first and largest NFT marketplace) for nearly £250,000, before being once again snapped up in seconds by one ‘Bored-Apes-Club’.

The unfortunate fellow has since posted his response to the whole cock-up on his Twitter page but if you scroll back through even just a few posts on his page, we’re sure it hasn’t hit his pocket too hard: this is no way near the only Bored Ape NFT he had to his name.

There seems to be a fair few mistakes made in this still relatively new market, as not long ago someone was duped into buying a fake Banksy NFT for nearly £250k.

Luckily, in his case, it had a happy ending but it still goes to show that somewhat guerilla approach to the currency isn’t as well regulated as other cryptos or, say, real money and assets?

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