• Expensive mistake: Mutant Ape NFT sold for $17 instead of 17 ETH, worth $54,000

  • While mistakes are investable, some are more costly than others, and this one cost an NFT holder $54,000.

    After casting the NFT of Mutant Ape #5275 a few hours earlier, the holder tried to sell it on OpenSea, but the transaction didn’t go the way he wanted. Instead of selling his ape for $54,000, the holder mistakenly sold it for $17, which is 99.9% below the reserve price of 7.95 ETH ($24,200).

    17 instead of $54,000.

    Most digital collectibles on OpenSea and other ethereum-based NFT marketplaces are usually priced using ETH. Therefore, the owner believes the offer for his NFT is 17 ETH ($54,000) and he accepts the offer without realizing that the offer is only $17 in USDC stablecoin.

    The Mutant Ape Yacht Club (MAYC) is a collection of 20,000 mutant apes that can be created by publicly selling minted coins or by exposing existing boring apes to a vial of mutant serum.

    According to the Bored Ape Yacht Club (BAYC), the project behind the Bored Ape and Mutant Ape NFT series, MAYC is used to reward ape users with mutant versions of Bored Ape.

    Over 10,000 mutant apes were made available to the public through a Dutch auction.BAYC said the mint price started at 3ETH and was gradually reduced to 0.01ETH over a nine-hour period.

    According to data on Etherscan, the holder of mutant ape #5275 spent about 2.87 ETH ($9,100), including fees, to mint the NFT and then mistakenly sold it for just $17 instead of the 17 ETH he thought.Interestingly, the user who bought the NFT resold it for 5 ETH, making in less than 3 hours over $15,900.

    While the original holder may be counting his losses, members of the cryptocurrency community believe OpenSea should have a fail-safe system in place to alert users if they try to sell their digital art for significantly less than the reserve price.

    NBA star Steph Curry buys a boring ape

    Meanwhile, in another development, CryptoPotato reported earlier that three-time NBA champion Stephen Curry joined the NFT ranks by purchasing a rare boring ape for $180,000. Interestingly enough, one of the rarest apes sold yesterday for $1.3 million.

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