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...
By Entrepreneur Staff •
This article was translated from our Spanish edition.
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.
