Crypto and blockchain tech are still evolving. Especially with the NFTs the blockchain technology will go even more forward. NFT is currently becoming the leader of all the latest developments. However, the Non Fungible Token market has its own flaws and the recent case of Moonbird Creator Kevin Rose proves it evidently.
Kevin Rose, creator of the Moonbirds, a popular NFT game, has recently declared that he has lost a lump sum of 1.1 million USD in the NFTs market. Apparently, one mistake by the man caused him such misfortune. As per Rose, he sent the NFTs to a wrong Ether address, and there are no ways to retrieve that or undo the action.
Rose explained that he wrongly sent a huge amount of NFTs to a wrong ethereum address. He said that made a mistake and now the NFTs are lost forever. Ross despite being embarrassed said that he is trying to take lessons from this mistake.
Kevin Rose In Crypto Loss Making Headlines
However, as far as our knowledge goes, this hasn’t been the first or only time Kevin Rose lost his money in the NFT market. In Feb, the personality said that he had lost a lot of money trying to buy these NFTs from the market.
Kevin’s story serves to us as a reminder of the risk associated with investing in this volatile market. It proves that even though the market holds incredible potential for huge gains, your momentary mistakes might make you lose a lot of money as well.
Following Kevin Rose’s experience, many investors are now more hesitant to participate in NFTs. While investing in NFTs may undoubtedly be profitable, it’s crucial to keep in mind that the market is still very young and that the risks are still rather significant.