Total embarrassment. A year ago, he bought the NFT for 2.9 million, today it is worth a few hundred

Total embarrassment.  A year ago, he bought the NFT for 2.9 million, today it is worth a few hundred

NFTs, or non-fungible tokens, are not in the world cryptocurrency is far from new. However, they have been with us for several years and many people perceive them as another unconventional way of investing.

Loser of the year

However, NFT sales sometimes get bizarre, such as the sale of a single pixel worth $ 1.7 million. The NFT with the simple name “Pixel” contains one gray square, which is sold as an “work of art” by an artist nicknamed Pak. The work was part of a larger series of digital works of art that together they sold for a whopping $ 16.8 million.

However, unlike most works of art, investing in the NFT does not exactly bring a certain way of investing. The latest “crypto entrepreneur” Sina Estavi, who last year paid an incredible $ 2.9 million for the first tweet of the co-founder and former CEO of Twitter, Jack Dorsey, was convinced, the portal warns. The Guardian.

Dorsey auctioned off his first tweet on the microblogging network as an NFT on the platform Valuablesoperated by Cent. At that time (March 2021), the highest amount was offered by the crypto entrepreneur Sina Estavi, who bought this NFT for ETH 1630.58 – $ 2.9 million, the portal writes. CNBC.

The event did not turn out as expected

Last week, Estavi posted a tweet announcing the sale of the NFT on the OpenSea trading platform. He allegedly planned to donate 50% of the proceeds to charity. However, the event did not go exactly according to his ideas.

Although Estavi planned to sell this NFT at auction for a respectable $ 48 million, it received only minor. In the first week, bids were held at just a few hundred euros, on Thursday the highest bid climbed to 2.2 ETH, or about $ 6,800, and on Friday the highest bid was only 4.2 ETH, or $ 12,700, the portal writes. CBSNews.

Shocked, Estavi is not sure how he will continue due to the unfavorable results of the auction. For the agency Reuterssaid his “The offer for sale was high and not everyone could afford it.”

After such a hard loser, when for a while the amount did not climb above $ 300, Estavi is no longer sure if he wants this NFT “work”, which he said was “Mona Lisa of the digital world”sell at all.