NFT collector Franklin just made a terrible mistake: he made a “big toe” offer of 35 ETH for a single NFT Beanz. Franklin, which is the sixth largest Bored Monkey Yacht Club (BAYC), I was trying to buy 35 NFTs in the collection. Unfortunately, he ended up placing a bid of 35 ETH on a single NFT, the floor of which is less than 2 ETH.
Here is everything you need to know about what happened with Franklin:
Franklin loses 35 ETH
On Twitter yesterday, February 19, Franklin recounted his costly mistake. While we were bidding, the minimum price for Beanz was 1.73 ETH. Although he wanted to mint an amount of 35 NFTs in the collection, he ended up making an offer of 35 ETH. While trying to cancel, the seller accepted the offer in no time.
“As you may know I made a 35 ETH fat finger picking offer on Beanz,” he tweeted. “I had intended to write a much lower offer with an amount of 35, but instead I offered 35 ETH for 1 buy (minimum 1.73 ETH at the time). It was accepted before I could cancel.”
Web3 and costly fat toe mistakes
Unfortunately, what Franklin did is a common mistake in the Web3 space. Many NFT newbies and veterans have lost thousands of dollars because of this costly mistake.
For example, early last year, a BAYC holder sold his Bored Ape #6462 for $200. At the time, the BAYC floor was around 100 ETH or around $200,000. It is likely that the holder thought that he was accepting an offer of 200 ETH instead of 200 USDC.
At the end of the day, always remember the golden rule: always double check all your transactions!
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This article is educational material.
As always, do your own research before making any type of investment.
