During the peak of the non-fungible token (NFT) market in 2021, crypto entrepreneur Sina Estavi made headlines when he purchased Twitter’s co-founder Jack Dorsey’s first tweet as an NFT for $2.9 million.
Source: OpenSea
At the time of his purchase, the Iranian investor tied the NFT’s value to its uniqueness and its association with a valuable company like Twitter.
Two years later, the value perception of the same NFT has significantly changed with the best offer currently standing at just $3.77, according to the latest data from OpenSea.
Source: OpenSea
While Estavi has been trying to resell the NFT since 2022, his efforts have been futile as he had listed the digital asset for $48 million. Estavi promised to donate half of his proceeds to charity at the time.
But the offer of a philanthropic gesture did not galvanize the community towards the NFT as the bids for the asset were as low as $280, while the highest amount offered then was $6,800. This greatly discouraged Estavi, who
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