The investor who bought the NFT with the first tweet written in history paid $2.9 million USD (10 million R$) for the business in March 2021. Over a year later, he tried to sell it again, but the highest bid was only $10,140 or R50,000 at current values.
This happened to Iranian investor Sina Istavi, who acquired the NFT during an auction. Estavi offered the work for sale on Thursday (6), asking for 48 million US dollars, which is about 224 million Brazilian reais. But as of the closing of this article, the highest bid was 3.3 ether (ETH), around R$50,000.
If the NFT were sold at this price, Estavi would incur a loss of 99.97% in relation to the purchase price.
The case happened in 2021, when NFTs got into a real price fever. It was during this period that many now famous groups were released (such as Bored Ape, for example).
At the same time, many artists have turned Twitter messages into NFTs and put them up for sale. Such was the case with Dorsey, who wrote the first tweet in history on March 21, 2006. Almost 15 years later, Dorsey coded that message and put it on OpenSea.
At the time, Justin Sun, CEO of Tron, offered $2 million for the work. However, Estavi covered the bid and acquired the NFT.
Almost a year later, Irani announced his desire to sell the NFT and pledged to give 50% of its profits (which he thought would exceed $25 million) to charity. The auction ended on Wednesday (13th), with a total of seven bids only. The largest was 0.09 ETH (1000 Brazilian reals in current values).
“My deadline is up, but if I get a good offer, I can accept it. I may never sell it (the NFT),” Estafi told CoinDesk.
Apparently Estavi didn’t accept the lower bid, as the NFT is still on OpenSea and has already received higher bids. At the time of writing, the business has received 3.3 ETH as the highest bidder, which is worth around R$50,000 at this Thursday’s prices (14).
The Iranian has a reason to sell his work. After all, Istavi was arrested in Iran in 2021 for “sabotaging Iran’s financial system.” He owns two cryptocurrency-focused companies, Bridge Oracle and CryptoLand, which collapsed after his arrest.
Also read: Tether announces USDT ballast changes
Also Read: 4 Action Games To Make Money From Physical Activities
Also Read: Bitcoin Shows Red Flags as Whales Sell in Bulk