Jack Dorsey’s $2.9M NFT tweet hits top bid of $277 at close of auction


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Jack Dorsey's $2.9M NFT tweet hits top bid of $277 at close of auction
The top bid for the non-fungible token of Twitter CEO Jack Dorsey’s first-ever tweet was $277 at close of a weeklong auction. File Photo by Pat Benic/UPI | License Photo

April 14 (UPI) — A crypto investor who paid $2.9 million for a non-fungible token of Twitter CEO Jack Dorsey’s first-ever tweet listed it for sale at $48 million, but the top bid was $277 at close of auction.

The investor Sina Estavi, who bought the NFT last year for $2.9 million, tweeted last week he had decided to sell it, and donate 50% of the proceeds, which he expected to be at least $25 million, to charity.

Estavi listed it for $48 million, hoping to make even more in a weeklong auction, but by auction close, there were just seven offers, ranging from .09 ether, equivalent to $277, to the lowest bid of .0019 ether, worth almost $6, CoinDesk reported.

Due to to the low offers, Estavi extended the auction past its deadline.

“The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it,” Estavi told CoinDesk through a WhatsApp message on Wednesday.

In the NFT marketplace OpenSea, Estavi can choose whether to accept or reject bids. The highest offer is now 3.3 ether, worth around $10,000, still far under what he paid for it.

The Iranian-born crypto entrepreneur’s ventures Bridge Oracle and CryptoLand collapsed following his arrest in Iran for “disrupting the economic system.”

He recently announced on Twitter that he would relaunch Bridge Oracle tokens, by swapping them from the original Tron blockchain to the Binance Smart Chain.

Estavi told CoinDesk that the swap could take up to two months to complete because it’s being run manually.





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