Final yr “crypto entrepreneur” Sina Estavi purchased a digital token representing Twitter founder Jack Dorsey ’s first tweet for $2.9 million. And now he tried to make his funding repay by placing it up for public sale with the expectation that this NFT may carry him $48 million. However what a shock the person bought. .
As CoinDesk experiences, Estavi put the NFT up on the market on April 9, hoping to get round $50 million for it, and donating round $25 million to charity. Regardless of their optimism, NFT collectors weren’t loopy about proudly owning this non-fungible asset and essentially the most they supplied for it was an astonishing quantity of… 0.9 ETH (about $280 USD). Estavi instructed the publication that: “The deadline I set is over, but when I get provide, I would take it, I would by no means promote it.”
Estavi’s public sale got here at a time when gross sales of NFTs tracked on OpenSea , the biggest market within the house, fell about 50% in 2022, from practically $5 billion in January to $2.5 billion in March.
Estavi, who has simply been launched from jail in Iran, the place he spent 9 months after being arrested on costs of “disrupting the financial system” because of his investments in cryptocurrencies, had his hopes pinned on promoting the digital asset. The worth of his two corporations, Bridge Oracle and CryptoLand , has been publicized because of his arrest.