Bored Ape Yacht Club NFT Sells At Discount
April 04, 2022 at 20:18
Santa Clarita, CA based NFTOrbitor.com recently released a report about sellers who have lost a fortune selling their NFTs by mistake. One seller in particular sold a bored ape NFT for $115 after listing it at the wrong price in error. The 99.9% discount is considered by many to have instantly made the buyer extremely wealthy. The report contains news on a number of other things regarding NFTs. Read it at the following link: https://nftorbitor.com/bored-ape-yacht-club-non-fungible-tokess-sells-at-a-99-9-discount-and-other-bayc-nft-sale-mistakes-where-the-buyer-got-instantly-rich/.
“We have all heard about finding long lost Picassos or Rembrandts at garage sales where the buyer practically gets it for free and then makes hundreds of thousands if not millions at auction. The stories never seem to talk about the poor repented seller who made the ghastly mistake and accidentally lost a fortune. The scenario has also been playing out in the digital world in the form of Bored Ape Yacht Club NFT art. In this article, we not only share the stories about some of the most notorious low-ball sales and accidental lost fortunes, but we will also share some of the stories of the sellers who goofballed. The latest example is a Bored Ape Yacht Club (BAYC) NFT that has sold for just $115. Yup, that’s right, this is not a typo, and it is 99.9% lower than its current floor price. What happened? According to data from OpenSea, Bored Ape #835 sold for $115 worth of DAI DAI/USD on Monday. The floor price, or the minimum price to acquire a BAYC NFT, was 106 ETH, worth $350,000 at the time of writing.”
Bored Ape Yacht Club, otherwise known as BAYC, is a collection of 10,000 Bored Ape NFTs on the Ethereum blockchain. Ownership of a Bored Ape NFT also acts as a Yacht Club membership card, conferring certain benefits on the owner. Cchan, the holder of the Bored Ape NFT that recently sold for just over a hundred dollars, has not disclosed why they agreed to sell for so little, with some speculating that they mistook DAI, a different cryptocurrency, for ETH, which is many times more valuable.
Another NFT holder who sold theirs for a fraction of the original price but to a much less extreme degree said, “I list a lot of items every day and just wasn’t paying attention properly. I instantly saw the error as my finger clicked the mouse, but a bot sent a transaction with over 8 ETH [$34,000] of gas fees, so it was instantly sniped before I could click cancel, and just like that, $250k was gone.” The report also says that another NFT sold for $19,000 instead of $19million a month before due to a similar listing error on the seller’s behalf.
NFTOrbitor is the number one source online for all things NFT. The site provides news, commentary and more about NFTs with regular updates from the world of NFTs, written by individuals who are very passionate about anything and everything to do with Non-fungible tokens. They spend their time doing extensive research on the topic. Their recent article on the undersold Bored Ape NFT is one of many posts on the website that talk about recent happenings in the field, and NFTOrbiter is working hard to put out more quality NFT-related content.
NFTs are growing rapidly in popularity. Crypto is losing popularity while NFTs become more and more lucrative with time. Last year saw the NFT market become about as valuable as the art market, with collections like CryptoPunks and Bored Ape Yacht Club becoming viral and skyrocketing in value. The ownership of a rare and valuable NFT not only means that the owner possesses something of value, it also comes with a certain level of status. They are considered an excellent investment in some circles provided the investor knows what they are doing, and there are countless guides online, both reliable and otherwise, explaining how NFT investment works.
For more on NFTs and the industry surrounding them, visit https://nftorbitor.com. They post new and highly informative updates regularly, and they are now the preferred source of information regarding NFTs for many enthusiasts.
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