NFT Collector’s Net Worth Hits EtherRock Bottom After Accidental Sale￼
An NFT collector has mistakenly sold his EtherRock, worth $1.2 million, for next to nothing when he put the rock up for sale but failed to set the appropriate trading currency.
EtherRock #44 was listed for 444 Wei (less than US$0.0012) instead of 444 ETH (~US$1.2 million).
A bot sniper instantly took advantage of the error and redeemed the NFT in less than 1 second, Dino Dealer, its former owner, said on Twitter. The bot then listed the rock at 234 ETH (~US$641,000).
“In one click my entire net worth of ~$1 million dollars, gone”, Dino Dealer said.
EtherRocks, which are clipart drawings of rocks, are one of the earliest NFT projects dating back to 2017. Only 100 EtherRocks NFTs exist and their scarcity has driven up their prices.
“These virtual rocks serve NO PURPOSE beyond being able to be brought and sold, and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game :)” the EtherRock website states.
Such incidents are, unfortunately, rife in the crypto space – assets being sent to the wrong/incorrect address, or on the wrong network are also a common occurrence. Last year, a Bored Ape Yacht Club NFT accidentally sold for 0.75 ETH (~$3,000) Instead of 75 ETH (~$300,000) due to a “fat finger error”.
While Dino Dealer said he is trying to seek recourse, it is likely that his NFT is gone forever.