Speculations across social media suggest that the BAYC NFT owner might have mistaken DAI for ETH. Others suggest that this could be a potential attempt for tax harvesting.
Bored Ape Yacht Club NFTs have created a massive rage among NFT fans with each NFT being sold for very high ticket prices. However, someone just sold their $350,000 Bored Ape Yacht Club (BAYC) NFT for a mere $115.
It sounds too good to be real but either it could be a costly transactional mistake or a hack. As per data on OpenSea, the previous owner “cchan” of BAYC #835 accepted 115 DAI ($115). This was a staggering 99.5% discount over the current floor price. The floor price of BAYC NFTs is currently at 106 ETH ($350,000)
Interestingly, the same owner has also sold Mutant Ape #11670 for 25 DAI ($25), and to the same buyer. Again, the floor price of Mutant Ape NFTs is 22.8 ETH or over $76,000. Discussions on social media note that the seller might have confused DAI with ETH. The owner of BAYC #835 might have assumed that someone is offering 115 ETH.
However, there’s another speculation that the owner might be the victim of some exploit. OpenSea has been recently facing issues with inactive marketplace listings. The platform recently faced a phishing attack losing users NFTs worth a staggering $1.7 million. Users reported that NFTs from their respective wallets were sold without permission.
NFT collector Artchick has made another interesting speculation. In a Twitter conversation, Artchick explains:
“Feels more like a tax evasion attempt, they sold their mutant for $25 to the same wallet. They’ll probably claim they were scammed and may even have the audacity to try to write it off, they bought the ape for 16eth. If it was a mistake, i wish them well, it’s quite a loss”.
Yuga Labs Launches BAYC Merchandise
In other news, Yuga Labs, the parent company behind Bored Ape Yacht Club NFTs continue to make further bold moves. After launching the ApeCoin for the BAYC community last week, Yuga Labs has introduced new merchandise items.
Besides, Yuga Labs makes it mandatory to buy the merchandise with ApeCoin. The BAYC has launched the ApeCoin as an in-game cryptocurrency for Benji Bananas, a game from Animoca Brands. However, this seems to be another way to increase the utility of ApeCoin.
However, soon after the launch, some users complained that they were facing major issues at checkout. Some users also reported multiple payments on a single order. But BAYC has assured them full refunds in that case. In their recent update, BAYC noted:
“For people who had limited-quantity items in their shopping cart and weren’t able to checkout: we’ll be emailing you an invoice with a link that will allow you to checkout with those limited items. If you want to buy more regular merch, you’ll have to complete another checkout. Only one checkout per wallet is allowed, so be sure to complete your entire order in a single transaction.”
Other crypto news can be found here.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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