This crypto entrepreneur bought an NFT for $2.9 million, expected to sell it for $48 million, and was only offered a few dollars The NFT in question represents Jack Dorsey's first tweet, and its owner had all his hopes pinned on its sale...

This article was translated from our Spanish edition.

mundissima | Shutterstock

Last year "crypto entrepreneur" Sina Estavi bought a digital token representing Twitter founder Jack Dorsey 's first tweet for $2.9 million. And now he tried to make his investment pay off by putting it up for auction with the expectation that this NFT could bring him $48 million. But what a surprise the man got. .

As CoinDesk reports, Estavi put the NFT up for sale on April 9, hoping to get around $50 million for it, and donating around $25 million to charity. Despite their optimism, NFT collectors weren't crazy about owning this non-fungible asset and the most they offered for it was an astonishing amount of... 0.9 ETH (about $280 USD). Estavi told the publication that: "The deadline I set is over, but if I get a good offer, I might take it, I might never sell it."

Estavi's auction came at a time when sales of NFTs tracked on OpenSea , the largest marketplace in the space, fell about 50% in 2022, from nearly $5 billion in January to $2.5 billion in March.

Estavi, who has just been released from prison in Iran, where he spent nine months after being arrested on charges of "disrupting the economic system" due to his investments in cryptocurrencies, had his hopes pinned on selling the digital asset. The value of his two companies, Bridge Oracle and CryptoLand , has been publicized due to his arrest.

Eduardo Scheffler Zawadzki

Entrepreneur Staff

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Here's How Tariffs Will Affect Costco's Prices, According to the Company's CEO

Costco CEO Ron Vachris said that one-third of U.S. sales are imported from other countries.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

These 3 Professions Are Most Likely to Vanish in the Next 20 Years Due to AI, According to a New Report

More than 1,000 AI experts think these are the jobs that AI will soon replace.

Science & Technology

These Tech Trends Will Shape How Small Businesses Achieve Success — Are You Embracing Them?

As digital tools continue to evolve, small businesses must assess which technologies align with their business goals to drive efficiency, growth and customer satisfaction in an increasingly tech-driven landscape.

Business News

Microsoft Overtakes Apple as the World's Most Valuable Company

Investors are concerned that Apple could raise prices due to tariffs, resulting in decreased demand for the company's iPhones.