Man Tries To Sell NFT He Bought For $2.9 Million Gutted By How Little He Can Sell It For

A bloke who forked out $2.9 million on an NFT has been offered just $10,000 after putting it up for auction. Ouch.

Crypto investor Sina Estavi stumped the hefty sum in September last year for the NFT of Twitter creator Jack Dorsey's first ever tweet - which read 'just setting up my ttwtr'.

Earlier this month, Estavi announced that he was auctioning off the NFT and appeared to believe he would get a pretty decent price for it, as he offered to donate half of the proceeds that he thought would top $25 million.

So it must have come as quite a shock when bids started rolling in for a helluva lot less than that - as it stands there's a top bid of 3.3 ETH which is worth $10,161.59.

And it seems as though the low offer has given him second thoughts on selling after all.

Speaking to CoinDesk, Estavi said: “The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it."

But it seems as though he hasn't give up hope just yet.

He told the BBC: "Last year, when I paid for this NFT, very few people even heard the name NFT. Now I say this NFT is the Mona Lisa of the digital world. There is only one of that and it will never be the same.

"Years later, people will realise the value of this NFT. Keep that in mind."

Estavi has seven days in which to accept the $10,161.59 bid or else he can hang around and see if anything better comes along.

After buying the tweet, Estavi was given a certificate, digitally signed and verified by Mr Dorsey, as well as the metadata of the original tweet, which includes things like when it was posted.

Cathy Hackl, founder of technology consultancy Futures Intelligence Group, told the BBC that she expects sales of NFTs for things like tweets and other social media posts will increase.

She said: "We live in an age where celebrities, musicians and influencers have more than fans, they have stans, and they will want to own a piece of their favourite stars.

"Just like people buy physical memorabilia, they will buy their tweets, posts, and snaps because they want to feel close to that star."

Topics: Technology, Cryptocurrency, Twitter

Claire Reid

Claire is a journalist at UNILAD who, after dossing around for a few years, went to Liverpool John Moores University. She graduated with a degree in Journalism and a whole load of debt. When not writing words in exchange for money she is usually at home watching serial killer documentaries surrounded by cats.