A user’s story on Twitter shows that you have to be very careful when trading NFTs since any mistake, no matter how minimal, could lead to a terrible result and significant losses.
NFTs got considered by many enthusiasts as the new revolution; others labeled them as non-sense items. The truth is that digital collectibles, popularly known as NFTs, today count on a market that is quite lucrative in which many enthusiasts spend considerable amounts of money from the trade of their goods. However, sometimes in this ecosystem, some stories show how minor mistakes can result in vast losses.
The Valuable NFT Sold for Less than a Penny
There is the case of the Twitter user @dino_dealer, who revealed another sad story in which he highlighted that he tried to sell his NFT from the EtherRock collection for USD 1 million equivalent in Ethereum (ETH) and ended up giving the item away.
In the story revealed by @dino_dealer, he highlighted that he was the owner of EtherRock #44, a piece created in 2017 during the CryptoKitties boom that has gained popularity for being one of the most viewed projects of its kind. The collectible was about to get sold for at least 444 ETH, but due to a mistake, it ended up selling for about 444 Wei, a figure equivalent to ETH 0.000000000000000444, less than a cent.
When the user noticed the mistake, he tried to change the figures. An offer hunter bot immediately executed an operation to acquire the item, leaving the NFT in the hands of an unknown collector who received the item, giving less than 0.00001% of its calculated value.
The affected user highlighted that he tried to contact the customer service area of the portal where he executed the operation but that they were unable to do something about the situation since the NFT got promoted in compliance with the current policies.
The other side of the story shows that those following up on the operation found that the new owner of EtherRock #44 is now selling the collectible for at least USD 234 in ETH. This figure represents approximately USD 620,000.
The user @dino_dealer satirized the event by using the “pity of the Sniper bots” phrase, but at the moment, there’s no further news about the new user feeling sorry for the loss that this error generated.
Other Cases with a Better Ending
Just as it occurred to the affected user, the NFT environment is full of sorrowful stories in which sometimes there may be a better ending for those users involved.
Such is the OpenSea platform’s case, damaged by a security breach in which the NFTs of some users ended up getting extracted from their accounts.
The service went to reimburse those who suffered the loss of at least USD 1.8 million, paying the calculated value of the items. However, some users preferred to have their items returned instead of receiving money for them.
By: Jenson Nuñez
