This crypto entrepreneur purchased an NFT for $2.9 million, anticipated to promote it for $48 million, and was solely supplied a couple of {dollars}

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 convey him $48 million. However what a shock the person obtained. .
As CoinDesk reviews, 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 probably the most they supplied for it was an astonishing quantity of… 0.9 ETH (about $280 USD). Estavi informed the publication that: “The deadline I set is over, but when I get a very good supply, 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 most important market within the house, fell about 50% in 2022, from almost $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” resulting from his investments in cryptocurrencies, had his hopes pinned on promoting the digital asset. The worth of his two firms, Bridge Oracle and CryptoLand , has been publicized resulting from his arrest.