A NFT from the Bored Ape Yacht Club (BAYC) sold for $200 USDC. On the NFT marketplace OpenSea, Bored Ape #6462 sold for $200 on May 15, while the project’s floor price is close to 100 ETH. The NFT was sold by “16B301” to an account “C94BD2,” according to OpenSea.
The blockchain’s appeal is that everything is transparent. This can also be a source of derision at times. Especially when a Bored Ape is being sold for 200 USDC when the BAYC NFT floor price is 100 ETH ($200,000).
About #6462 Bored Ape
According to NFT attributes aggregator Rarity Tools, this BAYC NFT has a Rarity Score of 152.3. The NFTs’ features such as a police motorbike helmet, bone necklace, and pizza dangling from the ape’s mouth account for its high rarity ranking. The price of Bored Ape $6462 is 200 ETH, which is double the collection’s floor price.
Why Was Bored Ape #6462 So Expensive?
The NFT community was suspicious of this incidence because of the project’s unique features and the significant discount. Why would someone offer his Bored Ape for 1% of the floor price on purpose? It turns out that the entire transaction may have been done to avoid paying taxes.
NFT fans examined the transaction histories of the respective accounts and discovered anomalies. Both the buyer and the seller, for example, created their accounts within the last five months. The current owner only started the C94BD2 this month.
There is proof that it was tax evasion.
There are only four NFTs between the two accounts. Only one of them comes from an NFT project with a floor price greater than 1 ETH: PO ChinaChic. The remaining three NFTs in the accounts have no trading volume.
They allegedly also planned the time of the offer. The owner accepted the deal within three minutes of listing, according to the Twitter account @Jon Metavest. This was either an instance of good timing or of known timing. The sale takes place at a time when tax authorities around the world are trying to figure out how to tax non-financial transactions.
Even if the exact motivation for the selling is unknown, this isn’t the first time we’ve seen Bored Apes sell below the floor price. Bored Ape #3457 sold for a staggering 1% of the asking price last year. This is ten times better, but it could be an inside job.
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This article is just for educational purposes.
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