NFTs are one of the most contentious technology issues today, and for good reasons. Artificial scarcity in digital environments is prevalent, and trading jpegs on the blockchain for high amounts of money appears to be quite popular.

Despite the above, mistakes can always be made, and they are most frequently due to user error. That is how one NFT trader earned fractions of a cent for their rock jpeg, which was valued at more than $1 million.

The crypto world may be a difficult place to navigate. There are numerous currencies, unusual art, perplexing environmental effects, and frequently, uncertainty.

 

What happened exactly?

 

On Twitter, there is a bitcoin trader known as Dino Dealer who recently made a basic mistake, according to Vice. When the user tried to sell his valuable EtherRock NFTs, he incorrectly state it at 444 gwei instead of 444 eth.

This is the difference between receiving nothing or an estimated $1 million USD. It was immediately snapped up by a bot, at an insanely cheap price. The user went on Twitter, trying desperately to get back his money.

He also reached out to the bot’s owner, requesting a do-over but have received no response. Because this is all blockchain, anyone may view and confirm the existence of the transaction. It’s possible that the owner of the bot will discover the notice or tweet, and return the funds honestly earned. However, most likely, the owner of the rock has lost his money and will not be able to retrieve his NFT piece.

 

What do you mean a bot?

 

Yes, traders and NFT collectors usually employ specialized bots to monitor NFT marketplaces, like OpenSea or LooksRare, for pieces offered for a significantly reduced price.

All for any possible technical (expensive) errors, such as this user’s loss of EtherRock.

EtherRock is a rather well-known NFT collection. It’s a set of identical clipart rock photos, each with its own color. One has been purchased for the equivalent of $3.5 million USD.