Man Who Paid $2.9M For First Ever Tweet NFT Set To Lose $2.9M After Sale

The Crypto Entrepreneur who bought the NFT of Twitter co-founder Jack Dorsey’s first-ever tweet for an eye-watering $2.9 million is set to lose nearly all of it.

Having only received a top bid of just  $13,940 despite an asking price of $48 million, Sina Estavi looks to have taken a major L.

At the time of his purchase, Mr. Estavi tweeted: “This is not just a tweet! I think years later people will realize the true value of this tweet, like the Mona Lisa painting.”

The days of hyped up NFT markets have seemingly disappeared in recent months with global monthly sales of NFTs dropping down to $2.4 billion, in March after reaching almost $5 billion last August, according to CryptoSlam Inc.

The lack of interest has seen Mr. Estavi change his tune slightly, reconsidering whether he wants to sell the NFT at all now.

“It’s important to me who buys this NFT,” he said, “because I think the value of this NFT is far greater than you can imagine and anyone, whoever wants to buy it, must be worthy.”