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As with everything on blockchain, mistakes are irreversible too and often prove to be quite costly. We got to witness one example of it quite recently as the owner of Ape #6462 sold the NFT for a mere $200 USDC.
The sale came into the spotlight when a Twitter handle, Bored Spybot, who updates on the sales of Apes from the Bored Ape Yacht Club (BAYC) collection, gave the information regarding the sale of Ape #6462 for just 200 USDC ($200).
It is no secret that BAYC is among the most expensive NFT collections in the market. As of now, its floor price is 101.75 ETH ($206,000). The recent Ape is being seen as a costly mistake since rare attributes like a bone necklace, police motorcycle helmet, and a bored pizza are included in the Ape.
People are even saying that the owner misunderstood that he was accepting an offer for 200 ETH rather than 200 USDC. This also translates into the fact that the former sold the Ape for 99.9% below the floor price.
Is Sale Of Ape #6462 A Tax Evasion?
Meanwhile, there is also another theory making rounds after the sale, which is that it was a tax evasion scheme, taking into account the circumstances of the transaction.
It has also surfaced that the transaction history on OpenSea shows that about a year ago, the NFT was sold twice at a price of less than 2 ETH ($7,000). The history further revealed that since Ape #6462 was minted, it has been transferred at least five times between different wallets.
Another thing that is worth noting is that the buyer’s account on OpenSea was created just this month, and quite surprisingly, the offer was accepted just a few minutes after being received.
One user gave an alternative theory saying a rich NFT holder might have transferred one of their bored apes for 200 USD, while another user said it was an insider job.
We could only speculate on the reasons behind the transactions; however, it’s not the first time that a sale has taken place where an Ape is sold for a lot less than what it is worth. The owner of Ape #3457 made the same mistake and sold the NFT for $3,000 instead of $300,000.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
