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He paid $2.9 million for the NFT of Jack Dorsey’s first tweet in March 2021. Now he tried to resell it, with disastrous results. Sina Estavi is an
He paid $2.9 million for the NFT of Jack Dorsey’s first tweet in March 2021. Now he tried to resell it, with disastrous results. Sina Estavi is an Iranian-based entrepreneur specializing in the crypto world and best known for buying the first tweet. It’s a buy now trying to resell for a larger quantity, but the market seems to have changed radically.
He announced on his personal Twitter account last Thursday that he would sell NFT and promised half of the profits would be donated to charities. Nail estimated earnings of at least $25 million.
Although Estavi paid $2.9 million, Placed NFT on OpenSea for approximately $48.8M. About 16 times what it cost him. A week later, the highest bid he received when the auction ended was about $280. A ridiculous amount compared to what was asked for.
I’ve decided to sell this NFT (the world’s first tweet) and donate 50% of the proceeds ($25 million or more) to charity. @GiveDirectly
🖇 https://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0– Estavi (@sinaEstavi) April 6, 2022
In total, NFT received around seven offers between 0.0019 ETH and 0.09 ETH. This, Offers from $6 to $277. It has nothing to do with guesswork. Even accepting the maximum bid would mean losing more than 99% of your investment.
Given what happened, Estavi clarifies to CoinDesk that he will not sell at these prices: “My specified time has expired. If I get a good offer, I can accept it, but I may never sell.”
Failure to sell this NFT has significant financial consequences for Estavi, who saw it last year. its two companies Bridge Oracle and CryptoLand disbanded due to his arrest. At the beginning of this 2022 Estavi was released from prison and is now moving to regain the trust of investors and make profits that can restart their projects.
NFT of the first tweet, after the failed bid was reported auctioned again and this time getting more attention, who knows, echoed by the media. Currently the maximum bid for this new offer is 2 ETH, around $6,200. A significantly higher amount, but still far from the big investment involved in the purchase.
Source: Xataka
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