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Wednesday, January 19, 2022

Someone mistakenly sold a Bored Ape Yacht Club NFT worth Rs 2.27 crore for Rs 2.27 lakh

For those who don’t know, BAYC NFTs are a popular collection of 10,000 unique bored apes created by Yuga Labs.

By: Tech Desk | Pune |
Updated: December 13, 2021 4:25:37 pm
Bored Ape Yacht Club to Launch Its Own Ethereum-Based Token in 2022. (Photo Credit: BAYC)

Bored Ape Yacht Club (BAYC) non fungible token (NFT) was sold for an insanely less bargain of $3,000 (Rs 2.27 lakh approx.) due to a typo error. It should be noted that the price tag should have been a whopping $300,000 (Rs 2.27 crores approx.).

For those who don’t know, BAYC NFTs are a popular collection of 10,000 unique bored apes created by Yuga Labs. This collection has seen over half a billion dollars in sales to date, as per metrics.

According to a report by CNET, the NFT sold for $3,000 was supposed to be listed it for 75 Ethereum (ETH) about $300,000. However, the owner of the NFT, that goes by the username maxnaut ended up with a typo error and entered a listing price of 0.75 ETH rather than 75 ETH.

Max told CNET that the incident happened due to a “lapse of concentration,” adding that he lists “a lot of items every day and just wasn’t paying attention properly.”

Before the owner tried reversing his mistake, someone already bought the NFT for the very low price tag. As a matter of fact, the buyer of the discounted NFT even went on to pay an extra fee of $34,000 to cop the NFT instantly before anyone else attempted to steal it.

The NFT is currently listed for a whopping $248,000, giving the buyer tons of profits. Interestingly, the minimum price of a BAYC NFT starts at 52 Ethereum or approximately $210,000.

BAYC NFT is owned by famous celebrities, such as basketball icon Steph Curry, music artist Post Malone, and even American TV host Jimmy Fallon.

The owners of the famous NFT collection BAYC, in October announced on Twitter that the company will be launching its own Ethereum based crypto-token, in early 2022.

Meanwhile, People have spent over $9 billion in NFT sales so far—and total sales are expected to reach $17.7 billion by the end of the year, according to a new research by Cointelegraph.

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