Rock NFT Worth RM4.7 Million Sold For Basically Nothing

As contentious as NFTs can be, we can sometimes still bring ourselves to sympathise with someone who apparently lost a lot of money in the scene. Such is the fate of a trader who accidentally sold an NFT worth 444 ETH (~RM4.7 million) for absolutely nothing.

Twitter user @dino_dealer shared their misfortune late last week about a huge mistake they made. They have listed an EtherRock NFT for 444 wei instead of 444 ETH. For context, a single ETH is equal to 1,000,000,000,000,000,000 wei. Needless to say, bots immediately bought the NFT and have it relisted at 234 ETH (~RM2.5 million).

How’s your week?

Mine? I just erroneously listed @etherrock #44 for 444 wei instead of 444 eth

Bot sniped it in the same block and trying to flip for 234 eth

In one click my entire net worth of ~$1 million dollars, gone

Is there any hope?

Am I GMI?

Can snipers show mercy? pic.twitter.com/yq9Itb2Ukb

— Rock dust (@dino_dealer) March 10, 2022

If you’re unfamiliar, EtherRock is effectively a collection of the same picture of a rock, but with different colour variations. According to Vice, it’s a four-year-old project that skyrocketed in value last year.

This story puts the spotlight on two points of contention. One is NFTs in general. While they can serve other purposes, people mostly use them for value speculation like this. Another is the use of bots. While they may not be the same group of people who operate these NFT-buying bots, they are very reminiscent of the bots used by scalpers who clean out any available console or graphics card stock before legitimate buyers can get to them.

(Source: @dino_dealer / Twitter via PC Gamer)

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