John Knopf, Emmy-nominated photographer, announced on December 13 that he had sold Bored Ape Yacht Club NFT.
If he didn’t have 347 Ethereum for the piece, this statement wouldn’t have been so significant. Knopf stated that he bought the original astronaut laser eyes ape number 9452 for 0.08 ETH on the day it was minted.
At current ETH prices, the massive sale netted him approximately $1.39million in profit. Knopf, who was emotional, responded to the sale by saying, “I’m at a loss of words right now. I’m sobbing. BoredApeYC, thank you for changing my life and the lives of everyone in the community! !”
My ape was bought for.08 at minting night, and I just sold it for 347 Ethereum. Right now, I’m at a loss of words. It is so hard to contain my emotions. I am so sorry. Thank you @_jeffnicholas_, for telling us to all buy them! https://t.co/BxeexYDmM7 pic.twitter.com/FuKtrFwhdH
— John Knopf (@JohnKnopfPhotos), December 12, 2021
Respondents pointed out that, if he were to be based in the US there would be a large tax bill. The government could take up to 35%.
Million Dollar Mistake
Chain Protocol CEO Deepak Thapliyal gave a summary of the purchase. He stated that he had “decided” to “ape in and buy his very own, but as my first NFT, I wanted to make sure I bought the right one.”
In preparation for buying the Astro-ape at full price, he moved 655 ETH to his wallet. There were suspicions that 230 ETH had been sent to the seller by mistake.
“After placing my initial bid, I had 230 ETH transferred to another mobile wallet. I thought the copy button for my address was properly pressed.
He tried to contact Knopf, explaining the error and agreeing on a price for NFT.
“I told him my story and explained how I wanted his pet ape. He informed me quickly that he would not keep my money and would return it.
Knopf paid $920,000 for the 230ETH and Knopf paid $377,000 for the 347ETH price tag.
NFT sales are fraught with errors. A mutant ape NFT was sold for 17 USDC in August instead of 17ETH.
Top-Selling NFTs for the Week
According to Nonfungible analytics platform, NFT sales volume has increased by $275 million over the past seven days. CryptoPunks has sold $50 million, making it the top-selling NFT collection.
The Bored Ape Yacht Club is second, with $41 Million in weekly sales.
Marla Brooks – Financial Analysis
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