London – Crypto entrepreneur Cena Estavi made headlines in March 2021 when he paid বস 2.9 million for an NFT (non-fungible token) of Twitter boss Jack Dorsey’s first tweet. But his efforts to resell it with a top bid of just $ 6,800 as of Thursday have intensified.
The initial purchase was one of the most expensive sales of a non-fungible token or NFT at the time, and came amid a surge in interest in special crypto assets that have sold billions of dollars since then.
Mr Estavi posted the tweet for resale on the popular NFT marketplace OpenSea last week, initially seeking $ 48 million.
That price tag was removed after offers fell to hundreds of dollars in the first week. As of Thursday, the highest bid was for cryptocurrency ether 2.2 – The equivalent of about $ 6,800.
“My sales offer was high and not everyone could afford it,” Mr Estavi, who was recently released from prison in Iran, told Reuters via Twitter in a direct message that he was not sure if he would sell the NFT.
“It’s important to me that whoever wants to buy it, I won’t sell this NFT to anyone because I don’t think everyone deserves this NFT,” Mr Estavi said.
NFTs are a form of crypto resource that can record the ownership of a digital file such as a picture, video or text.
There is no guarantee of the value of NFT and the market is full of scams, frauds, counterfeiting and market manipulation.
But Mr Estavi was confident of the value of his purchase.
“This NFT is not just a tweet, it’s the Mona Lisa of the digital world,” he said.
Mr Estavi, who lives in Malaysia, said he had been arrested during a visit to Iran in May and had been held in solitary confinement until his release in February. Iran’s state media reported in May 2021 that he had been accused of “disrupting the country’s economic system.”
Mr Estavi said he was arrested because of the rise of his crypto exchange, Bridge Oracle, and described himself as a “victim of crypto”.
Reuters could not independently verify the details.
“I need the support of the cryptocurrency community,” Mr Estavi told Reuters.
In an April 6 tweet announcing the sale of NFT, he promised to give the charity 50% of the revenue – which he expected to be at least $ 25 million. He said the rest would go to support Bridge Oracle. – Reuters