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NFT: Crypto investor who bought Jack Dorsey’s tweet for $2.9m, gets $6,856 offer in bid to resell

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Sina Estavi, an Iranian-born crypto entrepreneur, is in a dilemma following a disappointing non-fungible token (NFT) auction, which has fallen below his expectation and that of the NFT community.

Estavi, who owns default crypto ventures, Bridge Oracle and CryptoLand, had acquired Twitter founder, Jack Dorsey’s first tweet, turned into an NFT, for $2.9 million last year, March 2021, and had announced it would be for sale this month.

Dorsey, who has since stepped down as the Chief Executive Officer of the microblogging site, made the world’s first tweet on March 21, 2006, “Just setting up my twittr”, ushering in the now popular social media emergence.

On April 6, 2022, Estavi stated that the NFT tweet would be resold, and he expected a whooping $22.1 million gain from the auction, as he placed the tweet for sale at $25 million.

Read also: Dollar affecting lives in Nigeria, Twitter founder, Jack Dorsey says in critique of US govt

According to his statement on Twitter, he planned to give 50% of the earnings to charity, however, the offer Estavi received from bidders fell significantly short of what the crypto entrepreneur expected.

Check on OpenSea, the auction store, on Thursday, showed the $25 million-valued NFT tweet received between $6,856.32 (2.2 ETH) and $5.92 (0.0019 ETH) offer from interested bidders, who have given various deadline to accept the offer.

Ripples Nigeria noted that the crux of the matter is the bidder offering $6,856.32 gave Estavi three days to accept his offer, while the $5.92 gave the longest timeframe of 24 days.

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