Big NFT blunder| Collector mistakenly sells digital drawing worth Rs 7.6 crore for almost nothing

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NFT Collector

NFT col­lec­tor mis­takes sells draw­ing worth $1 mil­lion for nothing.

Pho­to : iStock

KEY HIGHLIGHTS

  • The details of the inci­dent were high­light­ed by the NFT col­lec­tor on Twitter.
  • A wrong list­ing result­ed in a huge loss for the collector.
  • He tried seek­ing help from mem­bers of the cryp­to com­mu­ni­ty, but to no avail.

An NFT col­lec­tor mis­tak­en­ly sold a draw­ing worth $1 mil­lion (Rs 7.6 crore) for next to noth­ing as a result of a sim­ple mix-up.

The col­lec­tor is not new to NFT tech­nol­o­gy. He lost a large sum of mon­ey despite hav­ing the expe­ri­ence of being in the busi­ness for at least a year. 

The NFT was a sim­ple pic­ture of a rock in vary­ing shades of grey.

The user, who goes by @dino_dealer on Twit­ter, shared details of the mix-up on the micro-blog­ging site.

Based on the expla­na­tion, the cost­ly mis­take might have hap­pened dur­ing the process of ‘drop­ping’ one par­tic­u­lar rock.

“How’s your week? Mine? I just erro­neous­ly list­ed @etherrock #44 for 444 wei instead of 444 eth. Bot sniped it in the same block and try­ing to flip for 234 eth. In one click my entire net worth of ~$1 mil­lion dol­lars, gone,” the user wrote.

“Is there any hope? Am I GMI? Can snipers show mer­cy?” he added.

The expla­na­tion may be a tad dif­fi­cult for every­one to under­stand. What @dino-dealer explained was that he acci­den­tal­ly list­ed the rock for ‘444 wei instead of 444 eth’, in ref­er­ence to the cryptocurrencies.

The draw­ing had been val­ued at 444 Ether (ETH), which is rough­ly equal to $1.2 mil­lion. This means the sell­er had the poten­tial to make some big bucks. How­ev­er, his list­ing was incorrect.

As a result of the blun­der, the NFT sold for 444 Wei, which comes up to the almost noth­ing val­ue of $0.0012.

In a fol­low-up tweet, the NFT col­lec­tor addressed: Hel­lo. Can I make a rever­sal request?”



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