NFT worth $1 million has become a victim of confusion with coins names. It was accidentally sold by trader Dino Dealer for less than one cent.
Dino Dealer sold one of the EtherRock collection NFT. These tokens cost $1 million each.
But the trader accidentally set the price of 444 wei instead of 444 ETH. wei is one quintillion part of ETH, so he sold EtherRock NFT for less than one cent.
Dino Dealer said that one of the bots monitoring price changes at Etherscan platform snapped up the deal, so NFT quickly found the new owner.
The trader admitted his mistake and tried to ask for the NFT return. But he got only fraudsters’ replies.
The new owner of the NFT worth $1 million reportedly selling it now for 234 ETH (approx. $600 000).
EtherRock consists of 100 JPEG images of animated rocks. The collection was created and sold on the Ethereum-based blockchain platform in 2017.
Worth noting that last year’s increase in NFT trading is 21 000% from 2020.
BNP Paribas-owned research firm L’Atelier’s study said trading in NFTs hit $17.6 billion last year. That’s a tens of thousands of times increase from 2020′s total of $82 million.
NFT investors got $5.4 billion in profits from token sales, and over 470 wallets succeed to earn $1 million.