A Bored Ape Yacht Club NFT art was accidentally sold at $3,000, and a coronavirus NFT is going public before the end of the year.
The COVID-19 began spreading over the world about two years ago. Fast forward a few months, and most of the world has virtually come to a halt.
Of course, this included the music industry, which suffered significant losses.
COVID NFT
Since the wide transmission of the coronavirus, all of the tours that music fans had been looking forward to experiencing, have been rescheduled.
The world has seen rescheduling for June and July 2020, then September and October 2020, and until now, expecting musical concerts to happen in 2022 or perhaps 2023, albeit a few shows have begun, thanks to the public shots of the COVID-19 vaccine.
It's difficult to predict the future at this stage.
But on the bright side, a band has devised a method of converting the covid genetic sequence music into production.
They also decided to market these musical compositions as covid NFT before 2021 ends.
Covid Genetic Sequence Music
The group of artists behind the Covid NFT is known as Viromusic.
They developed a technique known as DNA sonification, which is basically a nice-sounding name for making music with nitrogenous bases patterns.
Viromusic is an interesting new NFT sound collection of songs produced by the covid virus itself.
The music is made using the covid genetic sequence within the coronavirus, and the melody in the songs is sourced completely from the viral sequence.
Each note in the song is part of the virus's process commands to make more replicas of itself.
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Bored Ape Yacht Club NFT
In another news, an NFT owner of a Bored Ape Yacht Club artwork, accidentally sold his NFT art worth $250, 000 for only $3,000.
One of the most prominent NFT collections in the world is the Bored Ape Yacht Club. The lowest price for a Bored Ape Yacht Club NFT artwork is at 52 ether, or $210,000.
The cause in Saturday's (December 12) case was a simple but disastrous "fat-finger error."
The fat-finger error is not an uncommon mistake in the NFT world. This occurs when someone makes an internet trade for the wrong item or for the wrong amount.
The owner, Maxnaut, intended to advertise his Bored Ape for 75 ether, or roughly $300,000, but unintentionally listed it for 0.75 ether, which is ne-hundredth of the original price.
Unfortunately, it was purchased abruptly by a buyer. The buyer paid an additional $34,000 to expedite the transaction and ensure that no one else could buy the Bored Ape NFT before them.
However, the Bored Ape NFT list price was quickly corrected for $248,000 on eBay.
Bored Ape NFT
The transaction appears to have been carried out by a bot, which can be programmed to acquire NFTs listed below a given price on behalf of its owners in order to profit from these specific circumstances.
When Max was asked by CNET about what happened, he then stated that it was the lack of focus on his end.
He lists numerous items each day and he wasn't paying full attention. He then added that he saw the error immediately then tried to correct it, however, a bot sent a payment of over 8 Eths ($34,000) as gas fees so it was instantly processed before he could even press cancel.
And just like that, Max has lost $250, 000 on the Bored Ape NFT art.
Since Bitcoin and NFTs are in a decentralized system, Max can only rely on the buyer's goodwill to reverse a transaction.
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