As we have been neck-deep in the NFT landscape since 2020, we have obviously witnessed a ton of tremendous NFT trading losses along the way.
This deep into a bear market, it’s a good time to look back at some of the most crazy ones. It might make you feel better about your bags going down.
So here we go with a list of the biggest NFT trading losses in web3.
1. FranklinisBored with ENS.
It’s not uncommon for NFT traders to place fake bids on NFTs to trick potential buyers of perceived value.
One of the most famous Bored Ape traders, Franklinisbored, got annoyed by this. So as a joke, he minted the following ENS domain:
To put some extra weight to his point, he placed a 100 WETH bid on his own domain. Surprisingly, someone actually placed a 1.9 WETH bid on the domain (Sucker!)
What Franklin did next, is unethical, but he accepted the bid of 1.9 ETH and did a victory lap on X (formerly Twitter);
BTW, this week we discussed 5 ways to earn on X.
Now this is not the end of this story, as we are discussing NFT trading losses and so far Franklin is up 1.9 ETH.
Well, Franklin forgot to cancel his 100 WETH bid he put in as a joke. So the new owner accepted the 100 ETH bid to get back at Franklin and so he won 98.1 ETH and Franklin lost $140,000 on this ENS joke.
2. Justin Bieber books one of the Biggest NFT Trading Losses EVER!
Pop Artist, Justin Bieber, ranks in the top three for the largest celebrity NFT trading losses, with a loss of over $1.2 million.
At the peak bull market, he bought this sad BAYC for 500 ETH (which was 350% over the floor). Currently, he would be able to sell it for around 23 ETH. A whopping 95% loss in ETH and even more in USD.
I have to mention, that Justin has not sold his ape yet, so if he waits a few years maybe this L will turn into a W.
3. Blur Farmers at War
Hate ’em or love ’em, blur farmers are part of the ecosystem and we have to deal with it. They are grinding for potentially one of the largest NFT-related airdrops in history. So we wish them the best. Altho, the current $blur price isn’t looking pretty.
A good amount of airdrop farmers use bots to copy winning traders. So did Elizab.eth, who used a bot to copy famous farmer Hanwe’s Azuki bids.
However, this does not sit well with the traders. When Hanwe noticed this, he took a huge risk to trick the copy bot, he bid 50 ETH on Azukis. While the Floor price was below 5 ETH at that time. A bid 10x higher than the floor, balsy move.
It worked, Elizab.eth”s bot copied the 50 ETH bids and Hanwe managed to accept 16 of them, totaling an insane 800 ETH ($1,500,000 USD) loss for the copy trader.
Ouch!
We’re All in the Same Boat
With a market decline of 95% the majority of NFT collectors and traders are down bad. All we can do is look at our fancy jpgs and wonder why we didn’t sell the top.
Markets do what they do, and we hope that in the next bull, things will turn around again. Will they ever be as hyped as before? Only time will tell.
In the meantime, we will keep our finger on the pulse and keep updating you on the trends and notable events in the NFT world.
