Bought for $2.9 million, NFT of Jack Dorsey tweet finds few takers -Breaking
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© Reuters. FILE PHOTO. Twitter CEO Jack Dorsey speaks during the remote hearing of subcommittees of U.S. House of Representatives Energy and Commerce Committees on “Social Media’s Role In Promoting Extremism and Misinformation”, in Washington, U.S.A.By Elizabeth Howcroft
LONDON, (Reuters) – Crypto entrepreneur Sina(NASDAQ:] Estavi was the headlines when he bought a NFT for Twitter boss Jack Dorsey (NYSE:) in March 2021. It cost $2.9 million. His attempts to resell it failed, as the highest bid was only $6,800 on Thursday.
At the time, the initial purchase was among the most costly sales of a nonfungible token (or NFT). It came amid intense interest in crypto assets that have generated billions of dollar in sales.
Estavi posted the tweet for resale last week on OpenSea, a popular NFT marketplace. She initially asked for $48 Million.
This price was removed because the number of offers received in the first week had been in the lower hundreds of thousands. On Thursday, there was an offer of 2.2 bitcoins of cryptocurrency ether. This is approximately $6,800.
Estavi said that his offer to sell was too high, and that not all people could afford it. He was released from Iran’s prison recently, but Reuters sent him a direct tweet, saying that he wasn’t sure if he would ever sell the NFT.
Estavi explained, “It’s important that I buy this NFT for anyone who is interested. But I will not sell it to anybody because I don’t believe everyone should have this NFT.”
NFTs can track the owner of any digital asset such as image, video, or text.
The market is full of fraud and manipulation, so there is no way to be certain that an NFT will have a value.
Estavi, however, was certain of the purchase’s value.
He said, “The NFT is more than a tweet. This is the Mona Lisa digital world.”
“VICTIMS OF CRYPTO”
Estavi who lives in Malaysia said that he had been taken into custody last May on a trip to Iran. In May 2021, Iranian media claimed that Estavi was being accused of “disrupting” the country’s economy.
Estavi stated that he was being held in connection with the expansion of Bridge Oracle’s crypto exchange. He described himself as “victim to crypto”.
These details could not be independently verified by Reuters.
Estavi stated to Reuters, “I need support from the cryptocurrency community.”
In a tweet, he announced the sale of NFTs on April 6. He also pledged to donate 50% to charity, which was at least $25,000,000.
He stated that the remainder would be used to support Bridge Oracle.
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