When Meme-Based ENS Domain Was Sold And Purchased For 150K!
- An NFT collector listed an ENS domain “stop-doing-fake-bids-its-honestly-lame-my-guy.eth” for 1.9 ETH
- He purchased the same ENS for 100 WETH as he forgot to remove a bid from another wallet he owned
Ethereum Name Service (ENS), the domain names that point to crypto wallet addresses, are gaining popularity among the crypto community. This is because they are gaining value as desirable names sold as NFTs trade hands. However, an NFT collector recently lost around $150,000 worth of Ether (ETH) while spreading awareness about the fake bids via a “joke” bid on an ENS name that got actually accepted.
On Tuesday, the noted NFT collector Franklin, who owns 57 Bored Ape Yacht Club NFTs and other valuable NFTs, registered the ENS name “stop-doing-fake-bids-its-honestly-lame-my-guy.eth” using an alternate Ethereum wallet. On Thursday, he placed a 100 Wrapped Ethereum (WETH) bid, worth around $150,000, on it using his primary wallet. He went on to sell that ENS domain to someone for just 1.9 ETH, worth around $2,880 and turned to Twitter to celebrate for turning a profit.
However, he forgot to cancel the bid of 100 ETH from his other wallet that he made on Tuesday. The new owner of the joke ENS name accepted the bid and got the 100 ETH within 15 minutes after the sale. Franklin has his ENS name back, but the whole experience has cost him 100 ETH.
He explained in tweets how he lost 100 ETH by stating, “I was celebrating my joke of a [joke] domain sale, sharing the spoils, but in a dream of greed, forgot to cancel my own bid of 100 ETH [from another ETH wallet] to buy it back. This will be the joke and bag fumble of the century. I deserve all of the jokes and criticism.”
As Franklin’s tweets went viral after the sale, some from the NFT community called it the “biggest self-scam ever,” while some spread awareness within the community.
Pseudonymous investor and NFT collector DCinvestor said that the users should respect the blockchain as a “fiduciary layer” and not make joke bids while signing 100 ETH from their wallets. They added:
“Every time you sign something like that, feel the gravity of it. I feel bad for Franklin’s loss here, but let it be a lesson to everyone.”they added.