All links on this site are affiliate links. We receive a portion of each sale made through the links

buyer buys 300 adidas nfts

One person got away with purchasing 300 Adidas NFTs

Adidas dropped their first NFT yesterday.

The sale was capped at a max of 2 items per person and it sold out in less than a second.

One person was able to purchase 330 in a single transaction using a custom smart contract.

Here’s how they did it.

Adidas partnered with Bored Ape Yacht Clubgmoney.eth and punkscomic to release their first NFT. Due to the hype and demand, they limited the NFT sale to 2 per person.

The buyer’s custom smart contract was deployed a few hours before the minting. Contract address:

https://etherscan.io/address/0xb2d0e6e0c86e710c39d767f2559c463df277ca7b

When executed — the contract generates 165 sub smart contracts that would each individually mint 2 NFTs from the Adidas’ smart contract, and then transfer them to the owner’s main ETH address.

Since each sub smart contract has a unique address, the creator was able to avoid the 2 item limit imposed by the sale. After sending the NFTs to the creator’s main address, the child smart contract would self destruct

What was the the cost of packing all of these operations into one transaction?

The owner paid 27.3 ETH ~ $104k in gas fees to process this, on top of 66 ETH ~$252k to pay for the items.

This means that they’d need the price of the NFT to raise from 0.2E (mint price) to 0.28E to break even on the gas they spent. As the time of this writing, the price floor has skyrocketed to 0.8 ETH. Netting them a theoretical profit of ~$600k

View the full transaction here:

https://etherscan.io/tx/0x6a3d8584a6272a1d73ff297592b401fe10d3a90fd385efff55f68f32f29ecf61

Post a comment

Your email address will not be published. Required fields are marked *

%d bloggers like this: