Last year, the crypto entrepreneur Sina Estavi purchased Twitter founder Jack Dorsey’s first-ever tweet as an NFT for $2.9 million. Estavi hopes to sell the NFT for $50 million or more in 2022; now, the best bid he has is for $11,500. (3.8 ETH).
Last year, Dorsey auctioned off the first tweet he ever sent, “just setting up my twttr,” for charity.
A Deal That Wasn’t on the Track
Sina Estavi, a Malaysian entrepreneur, previously purchased the NFT in an auction for 1630.6 ETH, which was around $2.9 million at the time.
Estavi, who likened the tweet to Leonardo da Vinci’s Mona Lisa, reintroduced the NFT in March of this year.
Estavi, the founder of the blockchain startup Bridge Oracle, proposed to contribute half of the revenues to the US charity GiveDirectly, which he estimated to be worth $25 million or more.
Later, in response to Dorsey’s question about why he wouldn’t donate 99 percent of the proceeds from the NFT auction, he stated he liked the idea but wanted to utilize the money to help his blockchain projects and people. Bridge Oracle has recently been the subject of some controversy, as the company’s founder has been accused of conducting frauds and fraud by ordinary investors.
Despite Estavi’s assertion that a price of up to $10 million was put for the NFT, the largest bid on Opensea at the time of writing is only 3.8 ETH, or barely more than $11,500. Estavi acknowledged that the auction’s deadline had past, but he may still sell the NFT if a strong bid comes in – or he may not sell it at all.
Then, Estavi didn’t divulge the price he aspired for in an earlier interview with the BBC, but he did say that someone like Elon Musk would be deserving of this unique NFT.
Estavi is under duress.
More so, Estavi, who was detained in Iran last year on grounds of “disrupting the economic system,” has been involved in several controversies involving Bridge Oracle and CryptoLand. Investors were waiting for Estavi to convert their old tokens for new ones on the Binance Smart Chain when both projects crashed last year (BSC). Previously, the Bridge Oracle Token (BRG) was used on the Tron Network.
So, Estavi needed the phone numbers of the original BRG holders as well as some TRX tokens to validate their holdings. So he could deliver them their new assets via the BSC chain later.
This action, on the other hand, further added to investors’ skepticism of Estavi’s business acumen, as they worried it was just another swindle that asked for money without even setting up the bridge that joins the two base chains.
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