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Bored Ape Yacht Club NFT was Sold for $3,000 Instead of $300,000 by Mistake

A Bored Apes Yacht Club NFT holder unintentionally sold Bored Ape #3547 for 0.75 Ethereum instead of 75 Ethereum due to a fat finger error.

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#nft #bayc #mistake #sold #nfthours

NFTs from the Bored Ape Yacht Club (BAYC) are among the most expensive and well-known NFTs available. But, according to CNET, one of them was unintentionally sold for $3,015, despite being worth $300,000.

The transaction, which took place on Saturday, was confirmed by a review of OpenSea. On May 30, the owner purchased the NFT for 1 Ethereum. Ethereum was trading at around $2,290 at the moment.

The NFT was supposed to be listed for 75 ETH, almost $300,000 at today’s values, but the NFT holder inadvertently placed it for 0.75 ETH.

“How did that happen?” says the narrator. “I guess there was a gap in concentration,” the NFT holder, Max, reportedly told CNET.

“Every day, I made a long list of things and wasn’t paying attention. I immediately spotted the problem as my finger clicked the mouse, but a bot made a transaction with over 8 ETH in gas fees, so it was sniped before I could cancel, and $250,000 was gone in an instant,” he added.

This implies the buyer paid a total of 8.75 Ethereum, or a little under $35,000, for Max’s fat finger gaffe.

The error is incredibly distressing when considering how valuable Bored Ape Yacht Club NFTs have become.

In the booming NFT scene, Bored Ape Yacht Club NFTs have exploded in popularity.

Following a 900 percent increase in BAYC sales, the NFT platform OpenSea saw its trading volume quadruple last month.

A slew of celebrities and influencers have jumped on the Bored Ape bandwagon, helping to feed the trend. Jimmy Fallon, Post Malone, Steph Curry, and Mark Cuban are just a few celebrities who have endorsed NFTs.

Celebrities such as Timbaland, NBA star Shaquille O’Neal, and free agency NFL wide receiver Dez Bryant have joined the expanding list of celebrities who have embraced the Bored Ape fad.

Despite losing a lot of money on his Bored Ape sale, Max seemed to be handling the news well.

“Because the sector is so new, horrible things will happen, whether it’s your fault or the fault of the technology. So forget and move on once you no longer have control over the outcome,” he advised.

ART & COLLECTABLES

GIVENCHY PARFUMS, AMAR STUDIO, REWIND COLLECTIVE & VEVE REUNITE FOR THE CREATION OF AN NFT IN SUPPORT OF THE LGBTQIA+ CAUSE FOR PRIDE 2022

Fashion House, Artists and NFT Platform Team Up Once Again for Pride Month

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PARIS, June 23, 2022 – To mark Pride Month this year, Givenchy Parfums states its support for the LGBTQIA+ cause by reuniting with LGBTQIA activist Amar Singh, artists Rewind Collective & NFT platform VeVe, the largest mobile-first digital collectibles platform, for the release of a new digital collectible to be sold for charity releasing on Wednesday, June 29 at 12 p.m. PT. The release of the digital artwork, Pride II by Rewind Collective, will be sold for the benefit of the Le MAG Jeunes association, on VeVe’s digital collectible platform, available to download on the App Store and Google Play.

Drawing inspiration from the House’s Prisme Libre, combining four shades of colors, as well as the Rewind Collective’s Pixelated Heroes series, this original virtual artwork is being sold on VeVe in a limited series of 1952 editions. After the sale, the proceeds will be entirely donated to the Le MAG Jeunes association.

Titled “Pride II”, the artwork created by Rewind Collective for Givenchy Parfums is a series of animated portraits symbolizing diversity, the assertion of identity, and the fight for equal rights. Innovative photos, which the collective reinterpreted digitally in the colors of the Rainbow Flag, expres Givenchy’s commitment to a more diverse, more inclusive, more universal kind of beauty.

Through this initiative, Givenchy Parfums, Amar Studio & VeVe are proud to support Le MAG Jeunes (Movement for the Assertion of Young Gay, Lesbian, Bi & Trans people), a French association founded in Paris in 1985. Amar Singh continues to lead India’s national effort at the supreme court to abolish LGBT+ conversion therapy.  Aimed at the LGBTQIA+ young population (15 to 30), Le MAG Jeunes focuses on support and accompanying: it carries out awareness-raising missions in schools, offers cultural and educational activities, and provides psychological support to all those who need it. It also lobbies international institutions, so as to promote the implementation of more inclusive public policies, for today and tomorrow.

“Art remains one of the most powerful forms of self-expression, we’re honored to further the LGBTQIA+ cause so that everyone can present their authentic self,” said David Yu, Co-Founder of VeVe. “We are proud to support the LGBTQIA+ community and help fund the fight against LGBT phobias and sexism through the sales of this unique digital collectible.”

Last year the companies came together to sell the digital artwork, “Pride”, as a sign of support for the LGBTQIA+ cause and MAG. The $128,000 raised led to the organization:

  • Moving to a bigger space in Paris and opening of two new local centers for LGBT+ youth inclusion, to overcome isolation and that offers support and multiple activities. The Paris local group is now in the heart of the capital Quincampoix Street, Paris 4th, with a great space to welcome LGBT+ youth. And the two new branches are in Lyon and Clermont Ferrand. 
  • An increase of LGBT+ youth supported by the organization to 529. The foundation aims to support 1,600 youths thanks to the new spaces and new members of staff. 
  • Building and recruitment a team of professionals to accompany youth and fight LGBT phobias and sexism.
  • An increase of interventions in school from 3,000 students in 2021 to 11,360 in 2022, to prevent LGBT phobia and sexism in the education sector.

About VeVe:
Founded in 2018, VeVe was created by collectors, for collectors to bring premium licensed NFT digital collectibles to the mass market. With millions of active users and over 6      million NFTs sold, VeVe is the largest mobile-first digital collectibles platform and one of the top-grossing Entertainment Apps in the Google Play and Apple stores.

Utilizing both blockchain and augmented reality technologies, VeVe offers premium licensed collectibles from leading brands including DC Comics and Warner Bros, Cartoon Network, tokidoki, Ghostbusters, Back to the Future, and more. For the first time, these brands can provide customization to collectibles after their initial sale, creating endless revenue possibilities for products both new and previously offered. In addition, VeVe’s 3D augmented reality photo mode allows collectors to interact with every digital collectible, as well as share their collectibles through VeVe’s in-app social feed, or on external social platforms including Twitter, Instagram, TikTok, and more.

In March 2021, VeVe committed to 100% carbon neutral NFTs and provided $7+ million in grants to environmental nonprofits to raise money for causes through NFT promotions. In addition, VeVe uses Ethereum’s layer 2 scaling protocol, Immutable X, which provides instant trade confirmation, scalability (over 9,000 trades per second), zero gas fees, and a 99.9% reduction in environmental footprint.

The VeVe Digital Collectible app is available on both iOS and Android.

Learn more: VeVe.me | Twitter | Discord | Facebook | Instagram | Medium

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ART & COLLECTABLES

Salvatore Ferragamo, an Italian luxury brand, has an NFT booth in SoHo

Customers can create and mint their own Ethereum-backed non-fungible tokens (NFTs) on OpenSea at a booth set up by Salvatore Ferragamo, an upscale clothing company with its headquarters in Florence, New York.

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The Salvatore Ferragamo concept store in the city’s SoHo neighborhood opened its doors on Friday, and the booth is a part of a bigger debut of the business. All visitors are eligible to receive free NFTs, which are limited to 256 in total. The brand will pay all associated costs up front to mint an NFT.

For the launch, the company is collaborating with artist Shxpir, who has previously created holographic handbags for businesses like Coach. Shxpir has produced 3D digital graphic elements for the NFTs for Salvatore Ferragamo.

Just one day after NFT, there will be a launch.

After a week of discussions about how fashion businesses may tap into the Web3 and NFT arena, NYC, a conference about non-fungible tokens in Times Square, comes to an end. Famous companies have lately debuted their own NFT collections, including Gucci, Prada, Bulgari, and many others.

Salvatore Ferragamo has previously entered the online space.

The company collaborated with Obsess, a virtual and augmented reality software platform that aids businesses in the establishment of interactive online storefronts and virtual experiences, last year. Customers could explore a virtual mansion that featured Ferragamo goods at the online store dubbed “House of Gifts.”

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ART & COLLECTABLES

The crypto decline may be used by Binance to increase its market share in NFT

Football fans will soon have the opportunity to buy “an iconic piece of sports history” thanks to a collaboration between Cristiano Ronaldo and Binance.

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CR7 is starting to participate in NFTs.

The football phenom revealed his exclusive collaboration with Binance today. The multi-year contract, according to Ronaldo, will provide fans the chance to “own an iconic piece of sports history” and take part in his Web3 community.

In a video, Ronaldo stated, “Today we are going to transform the NFT game and move football to the next level.”

The Binance-controlled exchange and the Binance Smart Chain are two of the largest elements of one of cryptocurrency’s largest ecosystems (BSC). With 407 different protocols built atop it and $5.92 billion in value locked, BSC is the second-most used blockchain (after Ethereum).

Binance has had trouble creating a thriving native NFT ecosystem despite these great figures. With only $79 million in total trade volume, PancakeSwap, the decentralized exchange and flagship protocol of Binance, ranks twenty out of the NFT markets (OpenSea and LooksRare, two Ethereum marketplaces, had respective trading volumes of $31.24 billion and $23.23 billion).

Therefore, the alliance with Ronaldo might be interpreted as an effort by Binance to add value to BSC and start growing the NFT market share of the blockchain. On this retweet of the formal announcement, Binance CEO Changpeng Zhao “CZ” may have hinted as much: “Now, we start.”

This week saw the announcement of several noteworthy NFT partnerships, such as Pharell Williams’ recent appointment as Chief Brand Officer for the Doodles line.

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