A MAN who spent millions buying Twitter co-founder Jack Dorsey’s first tweet can barely muster a couple of hundred for it a year later.
Sina Estavi paid a whooping $2.9million/£2.2million for the NFT (non-fungible token) in March 2021.
Dorsey’s tweet from March 2006 says “just setting up my twttr”.
Crypto entrepreneur Estavi thought he’d get $48million/£36.5million by reselling it.
But an auction last week flopped miserably.
Only seven offers were put in, the highest at less than $280/£213, according to CoinDesk.
The embarrassed investor has conceded he may “never sell it”.
After rejecting the laughable offer, he’s since tried to flog the NFT again.
So far, it has only managed to creep into the single thousands.
But at $6,200/£4,720, it’s still a far cry from the price he originally paid.
NFTs have been heralded as way for digital artists to make money, but as Estavi has discovered, it comes with risk.
Owners usually receive a certificate of ownership.
The investor had pledged to donate half of proceeds to charity.
“Last year, when I paid for this NFT, very few people even heard the name NFT,” he told the BBC.
“Now I say this NFT is the Mona Lisa of the digital world. There is only one of that and it will never be the same.
“Years later, people will realise the value of this NFT.
“Keep that in mind.
“I think the value of this NFT is far greater than you can imagine and whoever wants to buy it must be worthy.
“I think someone like Elon Musk could deserve this NFT.”
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