Photo: REUTERS / NEXO / copyright
It was a typing error with which more than US $ disappeared 250. .
It happened at the moment in which the owner of a work of art that does not exist physically, but only in digital form, “ate” two digits.
The piece is called “Bored Ape # 3, 547 ”(Boring monkey # 3. 547, in Spanish), which is part of the new genre of art NFT, the acronym in English for ‘non-fungible token’.
Its owner decided to put it up for sale, but offered it for US $ 3. 000 instead of US $ 300 . 000, its approximate value.
The part was instantly acquired by an account automated which, in turn, immediately put it up for sale for about US $ 200. 000.
Bored Ape # 3, 547 is part of the NFT collection “The Bored Ape Yacht Club”, which contains a limited production of 10. 000 unique pieces of the image of a monkey with minor variations.
The seller, maxnaut, told CNet online that he intended to put Bored Ape # 3 up for sale, 547 to 75 Ethereum (ETH), the cryptocurrency used for many NFT trades.
But a “lapse of focus” during one of the many trades you do online on a daily basis, led to write ibir “0. 75 ETH ”(US $ 2. 989).
“I instantly saw the error when my finger clicked the mouse, but it was instantly fired before I could click ‘cancel’, and so, US $ 250 . 000 dollars were gone, ”he said.
The alleged buyer also paid a very high fee of 8 ETH (US $ 32. 000), to ensure the speed with which The Ethereum network processes a transaction to ensure that the sale is made instantly.
In traditional banking transactions, these errors are often easily reversed if the bank is reported quickly.
But in the Unregulated trading market generally there is no way to reverse such a sale.
Monkeys bored
The Bored Apes , released in April 2021, are generated programmatically. A computer script mixes and matches a variety of colors, designs and accessories to make each one unique.
Initially they were sold for for 0 . 08 ETH each (US $ 320 at today’s prices), but now they sell for at least 50 ETH (US $ 200. 000).
Many owners, whether they are NFT fans or celebrities, use their apes as their profile picture. Twitter.
Beyond that, there are benefits to being a part of the “yacht club,” including invitations to community events and access to Exclusive digital content.
But critics of the NFT market generally question what buyers get for their money when they buy art not physical and if the “certificate of ownership” stored in the blockchain, the same technology that sustains cryptocurrencies, is worth the huge sums that are paid.
This technology also consumes a lot of energy, due to the way transactions are verified by the high-powered computing, drawing criticism that the industry is bad for the environment.
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