Twitter founder Jack Dorsey’s very first tweet is marketed as NFT and was bought by “crypto entrepreneur” Sina Estavi for $2.9 million. Estavi recently launched an auction to sell the Twitter founder’s NFT for a profit. Of The crypto expert’s target amount was around $50 million. He would donate half of it to charities.
However, this very ambitious plan didn’t work out for Sina Estavi. Instead of the expected 50 million dollars the highest bid for the first tweet photo was $277. Of course, Estavi didn’t want to sell at that price given the nearly $3 million investment.
New auctions also do not bring the desired amount
Meanwhile, another bid of $3,600 had arrived, but that’s still a far cry from the $2.9 million, let alone the $50 million promised by the self-proclaimed crypto expert at the auction.
“The deadline I set has expired, but if I get a good offer I might take it, maybe I’ll never sell itEstavi told the CoinDesk website.
Estavi known for his crypto escapades
The timing of the sale is certainly interesting. Estavi has just been released from prison in Iran.where he had spent nine months after being under the Accused of “disrupting the economic system” had been arrested. Meanwhile, his cryptocurrency businesses have collapsed, and his attempts to appease those whose virtual fortunes have been burned by this collapse are viewed with skepticism.
Estavi’s auction comes at a time when NFT sales on Opensea, the space’s largest marketplace, have fallen around 50% in 2022, from nearly $5 billion in January to 2, $5 billion in March. This decline has led holders of “blue-chip” NFTs to look for “alternative uses” for their tokens, which is an intriguing development insofar as it implies there was a use at all. The case of crypto expert Sina Estavi shows how cautiously the subject of NFTs needs to be approached and how many non-fungible tokens are used to make quick money.
spring | CoinDesk, Kotaku