A piece from the Bored Ape Yacht Club NFT collection worth $200,000 sold for only 200 USDC, fueling speculation that it was more than a costly mistake.
A Bored Ape Yacht Club (BAYC) NFT collectible, #6462, which is shown wearing a police helmet with a pizza in its mouth and a bone necklace, has a current floor price of Ξ 105.1 or roughly $211,400. However, on Sunday, the Twitter world went abuzz with news of BAYC #6462 selling for 200 USDC by mistake.
A year ago, the same sold for over $7,000, which is not surprising considering the BAYC NFT project is one of the most expensive NFT collections ever. Selling an Ape for 200 USDC is something a BAYC NFT holder wouldn’t dream of, but it happened.
A Pricey Mistake or Something More?
Some think the former BAYC #6462 holder made a pricey mistake after selling his Ape for 99.9% below its floor price. Some think the former owner thought he was accepting an offer for Ξ 200, or roughly $402,300, instead of 200 USDC ($200).
However, such a pricey mistake is something every NFT holder avoids at all costs since blockchain transactions are irreversible. An NFT investor could lose everything with just an accidental misstep when processing transactions.
Hence, while some sympathize with the seller for the costly error, others started forming a different opinion, more so when some crypto users did some serious sleuthing on their own.
Buyer and Seller Are the Same?
Since the news broke, many in the NFT community and crypto users started keeping tabs on the BAYC #6462 holder. And according to these super sleuths, the seller and the buyer are one and the same person.
These vigilant people based their assumptions on a closer review of BAYC #6462’s transaction history on OpenSea. As mentioned previously, the NFT was sold for more than $7,000 a year ago. And since it was minted, the NFT has been transferred at least five times between different wallets.
What is more, the buyer’s OpenSea account, which was used to purchase BAYC #6462 for 200 USDC, was only created this month. Also, the transaction took place hastily, with the buyer putting in his offer and the seller agreeing to the deal all in three minutes.
One user suggests that the seller could be a filthy rich NFT investor who sold his Bored Ape to a relative or acquaintance for 200 USD. After all, there have been past instances where NFT holders sold their collectibles for less than they were worth.
However, speculations are rife that it was an insider job to pull off a tax evasion scheme. One Twitter user with the handle @Jon_Metavest even tweeted, “Tax evasion 101. Both accounts have nothing in their wallets, offers accepted Within 3 mins of listing.”
The incident could be a repeat of what happened last December when the owner of BAYC #3457 sold his Ape for $3,000 instead of $300,000 by mistake. Or it could indeed be a tax write-off scheme. Whatever the case may be, the truth about this surprising transaction may or may never come out.
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