Crypto entrepreneur Sina Estavi, known for being the owner of Jack Dorsey’s first-ever tweet NFT, may only receive 2 ETH, or about $6k on OpenSea for the $2.9 million purchase.
Estavi had paid $2.9 million for it, and this month sought to make good on his “investment”. He put the NFT up for auction about a week back (now closed) hoping to get $48 million for it–more than 16 times the purchase price, and then donate “at least $25 million” of that sum to charity.
A handful of bidders took part in the auction, the highest offer was for $6,224.06 while writing–a long way off $2.9 million, let alone $48 million. Estavi has 3 days to accept the offer.
“The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it” Estavi said.
The auction’s timing is obviously intriguing. Estavi was just released from prison after being arrested in Iran for “disrupting the economic system”. His crypto businesses notably the exchange CryptoLand and the blockchain project Bridge Oracle (BRG) took a hit.
He’s now hoping to appease previous investors by offering BRG token holders the option to trade their tokens for a new version that operates on the Binance Smart Chain and can be sold on exchanges.
Bridge Oracle investors, on the other hand, have expressed their skepticism, claiming that Estavi did not disclose definitive facts regarding the potential swap until after he had been questioned about it for a long time.