These investors have learned, in practice, that NFT is not a guarantee of profits

Sina Estavi is the owner of the first NFT Twitter post written by Jack Dorsey

There is no easy money. The phrase is old, but it fits even on technology that is hotter now. And entrepreneur Sina Estavi, who founded and runs the cryptocurrency company, has learned this in practice.

Just a year ago, Estavi was the winner of the competition for the acquisition of the NFT market by Jack Dorsey, the founder of Twitter. For US $ 2.9 million, the token represents the first tweet posted on a social network – specific by Dorsey.

Asked about the value of the receipt, Estavi said that, at the time, that year would pass and people would put a real price on the tweet, “like it was with the Mona Lisa painting”. One of two: whether it is too early or the trader’s predictions have turned out to be wrong.

This week, the businessman sold NFT for $ 48 million, with up to $ 25 million being donated to charity. But as of Thursday, April 14th, the highest bid is just over $ 6,800. Representation was only 0.2% of US $ 2.9 million paid in March.

Although the NFT is listed, traders do not have to sell the token if they do not need it. It is he who beats the hammer to see if the agreement can be accepted.

For that coindesk and for BBC, Estavi said it can accept “quality assurance” or refrain from selling the token. “I think the cost of NFT is more than you need. And whoever buys it should earn it,” he said. “I think someone like Elon Musk deserves this NFT.”

Estavi is the founder and CEO of Bridge Oracle, a crypto asset company that operates the Tron network, a content distribution platform. Around the time he bought NFT from Dorsey’s tweet, it was also revealed that he had bid $ 1.1 million for the tweet from Musk.

Elon Musk, it’s worth remembering, joins in on the possibility of buying Twitter. This Thursday he made his “best and final request” to manage the relationship. Value greater than the cost of NFT: some around US $ 43 billion.

Although Estavi’s efforts failed, the NFT market still appealed to customers. The market with digital tokens has increased more than 20 times in the last year. Sales are $ 17.6 billion, according to data from Nonfungible.com.

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