Someone Sold A BAYC NFT By Mistake For $200, Or Did They?

A BAYC holder sold his Ape NFT #6462 for 200 USDC, which has raised speculation if it was by mistake or if the seller was trying to avoid taxes.

When making blockchain transactions, some actions can’t be reversed and could end up costing a fortune. A recent 200 USDC sale transaction of a BAYC Ape #6462 has raised questions if it was an expensive mistake.

On Sunday, a Twitter handle that keeps track on sales of Apes from the Bored Ape Yacht Club (BAYC) collection, posted that someone sold Ape #6462 for 200 USDC ($200).

BAYC is one of the most expensive NFT collections in the market, with its floor price currently at 101.75 ETH (~$217,000). Ape #6462 has some of the rarest attributes, such as a bone necklace, police motorcycle helmet, and a bored pizza, it is very much possible that the sale was done by mistake.

If that’s the case, then it would mean that the owner thought he was accepting an offer for 200 ETH instead of 200 USDC.

Tax Reasons Behind The Sale?

While sympathetic to the seller, many have speculated that it was a tax evasion scheme, considering the circumstances surrounding the transaction.

The transaction history on OpenSea shows that the NFT has been sold a couple of times for not less than 2 ETH ($7,000) about a year ago. It also shows that Ape #6462 has been transferred at least five times between different wallets since it was minted.

Additionally, the buyer’s account on OpenSea was created this month, and the offer was accepted a few minutes after being received, which does look a little suspicious.

Whatever the reason behind the transaction, this is not the first time a BAYC holder has sold an Ape for a lot less than it is worth. In December 2021, the owner of Ape #3457 made a costly mistake by selling the NFT for $3K instead of $300K.