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An NFT collector accidentally sells an EtherRock worth $1.2M for a penny

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16
Mar
  • An NFT collector accidentally sold an NFT that he wanted to sell for $1.2 million, for almost nothing.
  • EtherRocks serve NO PURPOSE beyond being able to be bought and sold and giving you a strong sense of pride in being an owner of 1 of the only 100 rocks in the game.

Among the expensive and popular NFT-collections like CryptoPunks and Bored Ape, is EtherRock – a set of 100 pictures of stones of the same shape, but different colors. The tokens in this collection are worth millions of dollars. But an NFT collector accidentally sold one of these that he wanted to place for $1.2 million, for a penny.

The NFT Rock Dust trader wanted to sell his EtherRock NFT  for 444 ETH, which at the time of writing is worth $1,143,082. Instead, he listed the value of the NFT as 444 Wei, the smallest unit of ethereal currency, making it out to less than one cent.

Wei is the smallest denomination of the Ethereum cryptocurrency; one ether (ETH) is equal to 1,000,000,000,000,000,000 Wei. And that means that an error in the denomination negated the price of the piece.
A previous piece of this rare rock had sold for $1.7 million.

Before the trader realized his mistake, he had practically lost his entire fortune, as he explained on Twitter.

“In one click, my entire equity of about $1 million was gone,” the collector wrote on Twitter. “Is there any hope? AM I GMI? Can the snipers show mercy?”

In a follow-up tweet, Rock Dust confirmed he had contacted the buyer.

Hello sir, Can you return the ethereal rock? I made a huge mistake. Your bot grabbed it on the same block as my transaction, so I didn’t stand a chance. I hope you can find it in your heart to show mercy, please?

Rock Dust hasn’t made any updates since but his message has been greeted by several scam bots offering to refund his money if they contact him.

Traders and NFT holders use special bots that monitor major marketplaces such as OpenSea or LooksRare, looking for tokens for sale at well below market price.

EtherRock is a JPEG image of a cartoon rock created and sold on the Ethereum blockchain. There are only a hundred such stones, which increases the value of each one. According to the EtherRock website, the virtual stones serve no purpose other than to be bought or sold or simply to take pride in owning one of the hundreds of exclusive stone drawings.

Also read: Toilet paper NFTs wipe $7m medical debt

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