Cryptocurrency entrepreneur of Iranian origin Sina Estavi acquired this NFT for $2.9 million in March 2021. He announced on Twitter that he wants to sell it and promised to put 50% of his earnings (which he believes to be in excess of $25 million) to a good cause, while the other half will be used to grow his blockchain companies.
Well, in the first round of the auction, closed with just seven bets ranging from 0.09 ETH ($277 at current prices) to 0.0019 ETH (nearly $6).
“The deadline I set has expired, but if I get a nice little offer, I can take it, I might never sell it.” Estavi said. We leave you a tweet with a picture of the purchase.
I decided to sell this NFT (the world’s first tweet) and donate 50% of the proceeds ($25 million or more) to charity. @GiveDirectly 🖇 https://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0
— Estavi (@sinaEstavi) April 6, 2022
Estavi’s crypto companies Bridge Oracle and CryptoLand collapsed after he was arrested in Iran last year on charges of undermining the economic system. He was detained for nine months and now he is trying to restart his own tokens in an attempt to win the trust of investors.
However, after this resounding failure, he again put the NFT in question up for sale on OpenSea, and it seems, perhaps due to media coverage, that its value has increased, but not in the way he would like. Currently, the highest bid is 2 ETH, which is equivalent to approximately $6,000. Quite far from the $2.9 million purchase and the $50 million he expected to receive.
It seems that the NFT world is slowly coming to an end, at least in theory. We have already reported on various issues, such as over 80 percent of the non-fungible tokens on the OpenSea marketplace being creations or works of art that have been plagiarized, faked, or spammed, or that NFT games are not doing as well as expected.
To this we must add that from Business Insider they reported that most users sell tokens to themselves (dummy trading) to fool the market.
It seems that How far is the popularity that he had at the beginning of 2021.when artist Beeple’s collage titled Everydays: The First 5000 Days sold for $69.3 million.
Are we at an NFT tipping point? They are valued by the market and they don’t seem to be very interested in sustaining this bubble.
Source: Computer Hoy
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
