It seems that a hapless nonfungible token (NFT) collector on OpenSea has a mistake of more than $188,000. The investor in question offered – probably accidentally – 100 Ethereum on an NFT that is normally free. The token was part of OpenSea’s Gemesis NFT Collection, a set of free NFTs to celebrate the launch of OpenSea Pro on April 4.
Bottom price of 0.04 Ether
Before the 100 Ether offer, the floor price for a Gemesis NFT from OpenSea was around 0.04 Ethereum. OpenSea Pro is a marketplace aggregator aimed at professionals who want to use data from other marketplaces and place advanced orders.
Exactly what all this is supposed to mean, it is not yet clear at the moment. It is clear that with OpenSea Pro you can get a lot more information about the market. If you are an active trader of NFTs, this might be worth a try.
It seems that the trader in question actually wanted to bid $100, but keyed in 100 Ethereum instead. Furthermore, it was an open offer that could have been accepted by everyone, in that respect the chance that it was a wash trade went.
What is wash trading?
Wash trading is a form of manipulation where an exchange platform buys coins from itself and then puts them up for sale and buys them again from itself. In this way, an exchange platform can fake trading volume.
This makes it seem like a certain token or NFT collection is popular, when in reality they are buying it from themselves. That is of course not the intention, but unfortunately something we sometimes see in the crypto world.
In this case, that was not the case, at least it seems, because it was an open offer. Every token holder of this collection could have sold his or her NFT for the 100 Ethers. In the end, the one with the fastest response wins.
