An OpenSea user offers free NFT in exchange for 100 ETH
Key Points:
- An NFT is purchased by a trader at a price of 100 ETH, 250,000% above the floor price of 0.04 ETH.
- The token was sold on Blur, an NFT marketplace, and was a part of OpenSea’s Gemesis NFT collection.
- Professional users can take advantage of OpenSea Pro’s advanced features, and wash trading is common in NFT trading.
NFT trader inadvertently paid a whopping 100 Ether for a free NFT from OpenSea’s Gemesis NFT collection.
This amounts to a staggering $191,239 at current market rates, which is a mind-boggling 250,000% increase from the floor price of 0.04 ETH. The trader may have intended to bid $100, but instead bid 100 ETH by accident.
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Some people have said that this sale was the result of wash trading, which is a way to manipulate the market in which a trader buys and sells an asset to give the market false information. Others, on the other hand, argue that because the sale was open to anyone, it was too risky to be a wash trade because another trader or bot would probably take the offer because it was so high above the floor price.
OpenSea Pro, the platform made for professional NFT traders, has a much better set of features, like advanced orders and live cross-marketplace data. OpenSea Pro was developed as a result of OpenSea’s acquisition of Gem, an NFT aggregator. A Gemesis NFT can be mined by eligible users who purchased at least one NFT on Gem prior to March 31 until May 4.
despite its controversial reputation, the world of NFT trading, which has seen a surge in interest in recent years. It is fascinating to observe how a seemingly insignificant error can have such a significant bearing on an NFT’s value. It likewise features the significance of remaining educated and careful while exchanging this market.
