NFT is one of the most controversial technologies right now, and with good reason.
Artificial scarcity in the digital space seems to be all the rage right now, and exchanging jpegs on the blockchain for stupid amounts of money is just as popular as ever for some reason. But mistakes can still be made even if it’s user error, and that’s how one NFT raider got fractions of a cent for his rock jpeg, which was valued at around $1 million.
The world of cryptography can be tricky to navigate.
There are tons of currencies, weird monkeys, unfathomable environmental impacts, and just a lot of confusion. Many game developers have outright called NFTs a scam. The legitimacy of crypto can be so poor that Steam found that over 50% of transactions using bitcoin on its platform were fraudulent. This is a scary crypto world, and even NFT fans are not immune from it.
Reports Vice Dino Dealer on Twitter is one such crypto trader who recently made a simple mistake. When listing their precious EtherRock NFT, they mistakenly listed it for 444 gwei instead of 444 eths. That’s the difference between getting practically nothing or about $1 million. Once listed at a low price, it was immediately bought by a bot for the equivalent of someone whispering the word “money” at least 100km away.
Dino Dealer reported the event on Twitter, imploring at the end of the snipers to show mercy.
They also contacted the owner of the bot, hoping for a rework, but received no response. Since everything is blockchain, the transaction is available to anyone who wants to see and smile if they want. Considering it’s a very simple jpeg of stone, it looks like the bot got what it paid for anyway.
How is your week? My? I just misquoted @etherrock #44 for 444 wei instead of 444 eth🤦♂️The bot cut it in the same block and tried to flip it for 234 ethIn one click, my entire net worth of about $1 million was gone. Is there any hope? I GMI? Can snipers show mercy? pic.twitter.com/yq9Itb2UkbMarch 10, 2022
EtherRock is a typical NFT example. This is a series of pictures of the same rock with different colors so it looks a lot like the famous monkey pictures you may have seen, but literally just rocks. Or rock. The same rock. One of them was sold for the equivalent of 3.5 million US dollars. Worst of all, you can’t even bang your head against it because it’s just a digital jpeg.