The concept of NFTs and the underlying technology it uses could be a useful way of marking the ownership of digital assets, but at the momemt, the NFT space is controversial. This is largely due to how many NFTs right now are essentially digital drawings that for some reason, are worth millions of dollars.
Well, a collector by the name of Dino Dealer was looking to cash in on their NFT of a drawing of a rock part of the Etherrock collection. The collector was planning on listing it at 444 ETH, which based on the current value of ETH is worth just over $1 million.
You can see the tweet here: https://twitter.com/dino_dealer/status/1501802006364635139
Unfortunately, Dino Dealer accidentally picked the wrong cryptocurrency to list it under and ended up picking Wei instead of ETH. Based on the current value of Wei, it ended up being worth less than nothing as it was basically a fraction of a fraction of a penny. That’s a big error.
Unfortunately, bots tend to scrap the market for undervalued listings, and Dino Dealer’s NFT was quickly snapped up and then relisted where it was being sold at 234 ETH, which is about half the amount Dino Dealer had listed it for, but then again having bought it at 444 wei, the owner of the bot is still making an extremely nice profit.
Source and Image Credit Ubergizmo