A Bored Ape NFT, one of the most valuable NFTs in the world, just got sold for only 10 ETH on the OpenSea marketplace. With the floor price at 97 ETH, around $187,600, even with the lowest priced Bored Ape how is it possible for an NFT to be sold for 10 ETH?
After looking into it, we discovered that the owner sold it by accident, a fat finger error. Here are all the details of how it happened.
With the increasing popularity of NFTs, scams and phishing attacks have also increased. The recent NFT theft on Solana marketplace and phishing attacks that cost Seth Green lose his Bored Ape NFT have made every investor and NFT holder on their toes.
So, when the Bored Ape #3158 got sold for 10 ETH, everyone thought that someone got scammed or hacked but that wasn’t the case.
Fat Finger Error: Bored Ape owner accidentally sold for 10 ETH
According to our resources, the owner of Bored Ape #3158 intended to sell their NFT on OpenSea but clicked on the wrong option. So, instead of setting the bid at a higher price, @nft_metaman listed Bored Ape #3158 NFT at a lower price on the marketplace.
This isn’t the first time an NFT is sold for a low price, many examples exist such as a man who sold an EtherRock NFT with 1 million for only a penny or a $300K Bored Ape sold for $3k ETH. In the NFT community, this accident is known as the “fat finger error,” when the owners trade a wrong item or set the wrong price for an item.
Although there is no solution to getting back once it’s listed, many people use “bots” to buy back the NFT. But for @nft_metaman, he failed to buy back his NFT and it sold for 10 ETH.
In response to this accident, @nft_metaman admitted his mistake by tweeting:
It is truly devastating for the owner but a lottery for the one who took the chance and immediately bought the NFT.
How to avoid fat finger error on OpenSea
OpenSea and many other marketplaces have updated their security systems to prevent users from making the “fat finger error” but those aren’t enough to ensure safety.
For instance, the security feature on OpenSea warns NFT holders if they list the wrong price lower than the floor price before completing the transaction. This is how Bored Ape #3158 got sold for 10 ETH.
It is always recommended to read instructions before trading NFTs on any marketplace, including OpenSea. Many traders ignore those instructions and simply jump into the marketplace.
If you want to survive the NFT world, it is essential that you closely look at the listed price before confirming the transaction to avoid any NFT loss.