*****
The Bored Ape Yacht Club is one of the most prestigious NFT collections in the world. You may scoff at the words "prestigious" and "NFT" being used so close together, but among its star-studded members are Jimmy Fallon, Steph Curry and Post Malone. Right now the price of entry -- that is, the cheapest you can buy a Bored Ape Yacht Club NFT for -- is 52 ether, or $210,000.
Which is why it's so painful to see that someone accidentally sold their Bored Ape NFT on Saturday for $3,066. ....
{the two most interesting bits of this story follow]
....It was bought instantaneously. The buyer paid an extra $34,000 to speed up the transaction, ensuring no one could snap it up before them. The Bored Ape was then promptly listed for $248,000. The transaction appears to have been done by a bot, which can be coded to immediately buy NFTs listed below a certain price on behalf of their owners in order to take advantage of these exact situations.....
....MUCH MORE
1) $34,000 seems like an awful lot of gas.
2) Someone had the foresight to anticipate an NFT being offered at a price lower than one might expect.
For more on the gas fees see PYMNTS.com on the crowdfunders vs. Citadel's Ken Griffin:
Ethereum’s Sky-High Transaction 'Gas' Fees Blew up $40M Crypto Constitution Crowdfunding Project
On another aspect of the Constitution auction, because the amount the crowd had raised was known, one wag got off a very sharp line referring back to Citadel executing Robinhood's retail investor's trades:
"Don't ever let Ken Griffin know how much you're willing to pay."
I can't remember the source which is too bad, credit where credit is due for making me literally laugh out loud.
