In March 2021, Sena Estavi bought former Twitter CEO Jack Dorsey's first tweet in the form of NFT. The price is not kidding, reaching USD 2.9 million.
Dorsey posted his first tweet on March 21, 2006 that read, "Just setting up my twttr." The tweet was auctioned on the Valuables by Cent platform on March 5, 2021.
Now, Estavi who is the CEO of blockchain company Bridge Oracle, is trying to sell the NFT at auction, which at first looks like a really cool NFT.
Maybe that's also what made him confident to auction the tweet and believe that the auction results will exceed USD 25 million. His intentions are also good, because 50% of the sales proceeds will be donated.
Then he auctioned Dorsey's first tweet on OpenSea, and was prepared to get a bid of up to USD 48 million, aka dozens of times the money he spent when he first bought the tweet.
But it seems that Estavi has set his hopes too high. Dorsey's tweet auction took place last Wednesday (13/4/2022) with only 7 bidders, ranging from 0.0019 ETH (around USD 6), to as high as 0.09 ETH or around USD 277.
"The deadline that I set has passed, but if I get a good offer I will probably accept it, I may also never sell it," explained Estavi in response to the auction results.
After that, there were indeed a few more offers. But still far from his expectations, because his highest bid was only USD 6,231, which is even much lower than the ETH he spent to buy Dorsey's tweet.
In fact, Estavi seems to be in dire need of money. The reason is that he was only jailed for nine months in Iran after being accused of disrupting the country's economic system.
While he was imprisoned, his crypto companies -- Bridge Oracle and CryptoLand -- crumbled and left consumers unable to access the funds they held. He also tried to fix the problem, one of them by collecting additional money.
Reported by Kotaku, Friday (15/4/2022), currently NFT sales on OpenSea - one of the largest NFT marketplaces - are experiencing a decline of up to 50%. That is from USD 5 billion in January to USD 2.5 billion in March.