The location of decimal points is very important. A Bored Ape Yacht Club (BAYC) Non-fungible token (NFT) was sold for just $3,000 instead of the actual $300,000. Read to find out how the costly error occurred.
Typo leads to a costly mistake
The actual price of the Bored Ape Yacht Club (BAYC) was $300,000 at the very least. However, misplacing the decimal point led to a very costly mistake. The BAYC NFTs are a popular collection by Yuga Labs. They feature 10,000 unique but bored apes. According to the reports by dappradar.com, so far the collection has made over half a billion dollars. Additionally, according to CNET, this particular NFT was going to be promoted for $75 Ethereum (ETH) making the NFT almost equal to $300,000.
However, ‘maxnaut’, the owner of the NFT made a small but grave typo while listing the price of the NFT. They entered 0.75 ETH in place of 75 ETH. According to the CNET study, maxnaut offered the NFT for sale, first on Saturday. The owner defines himself as a “solo-traveler, bored ape, marketing agency owner, and NFT investor”.
Bored Ape Yacht Club NFT sold for just $3,000
According to the CNET report, the NFT was snatched from the marketplace before the error was rectified. Moreover, the NFT was seized by a computer looking to identify and obtain listings at a discounted price. Max also informed CNET that it was caused by a “loss of concentration”. Additionally, he added that he “lists a lot of items every day and wasn’t paying attention correctly”.
Currently, the BAYC NFT is listed for $248,000. Hence the person who bought the NFT is going to make a lot of money. Additionally, an NFT from this unique collection may be purchased for as low as 52 Ethereum, or close to $210,000.
There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this PR should be construed as a recommendation to buy, sell, or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security, or related transaction is appropriate for you based on your investment objectives, financial circumstances, and risk tolerance. Consult your business advisor, attorney, or tax advisor regarding your specific business, legal, or tax situation.
