Encryption Collector's Attempt to Reverse Jack Dorsey's First Tweet - for which he paid $ 2.9 million - falls on a large scale |  Artnet news

Encryption Collector’s Attempt to Reverse Jack Dorsey’s First Tweet – for which he paid $ 2.9 million – falls on a large scale | Artnet news – Mail Bonus

Last March, Twitter founder Jack Dorsey made headlines when he posted NFT on his first tweet, with the immortal line “set up my twitter”. It sold for the equivalent of $ 2.9 million to blockchain entrepreneur Sina Estavi.

Continued sequel to Beeple’s $ 69 million sale of it All days at Christie’s, the Dorsey “first tweet” sale at the Valuables venue was one of many prominent NFT sales that opened the public’s floodgates. Goldilocks thinking started where the authors of various online topics tried their luck by selling their own NFT devices.

The Guardian would write about a new type of collector who focuses on buying pieces of Internet history (or, rather, buying blockchain-based certificates that point to them). As one cryptocurrency collector told the paper: “I honestly think these are good investments … As we get older, some of the assets that can be accumulated the most will be what our culture values. And there are memes. “

Well, this week, just over a year after the initial sale, Estavi decided to try his luck at turning Jack Dorsey NFT up for auction at OpenSea. Its original target was $ 48 million, according to CoinDesk.

Estavi wrote in a tweet that he would donate half of the proceeds to charity GiveDirectly poverty. Dorsey, who had given everything of his original proceeds to the same charity, immediately tísti at Estavi, “why not 99% of it?”

The case ended up being topical. The sale ended on Wednesday with only seven bids, rising 0.09 ETH, or $ 277.

After the disappointment, Estavi told Reuters that he would hold on to NFT at the moment: “It is important for me who wants to buy it. I will not sell this NFT to anyone because I do not think everyone deserves this NFT. “

At the BBC, he demanded its long-term investment value: “Years later, people will realize the value of this NFT. Keep that in mind. “

To be fair to Estavi, interest in Dorsey NFT has crept up in recent days after unsuccessful resale. Bids are now over $ 10,000 and continue to flow in.

Estavi, however, does not seem to be inclined to sell something he has often compared to “Móna Lísa digital age” for about 1/30 of what he paid. Instead, when Elon Musk’s takeover bid for Twitter hit the news this week, he tweeted at the world’s richest man, hinting that he buy it.

The salad attempt comes when Estavi struggles to straighten the ship out of its business interests. He announced that he had been arrested in Iran shortly after buying the Dorsey tweet last year, accused of “economic disruption”. (He says he was released in February.) He has said that all proceeds from the NFT new sale would go to his efforts at Bridge Oracle – a company which, according to CoinDesk, faces strong criticism from holders of the dedicated BRG logo, which has grown in value as he tries a very complex system to save it.

However, it seems unlikely that Estavi will be able to turn around Jack Dorsey’s first tweet with a fairly close profit, now that it has been so officially burned. Given how visible and symbolic the original Dorsey NFT sale was, Estavi’s stomach could have wider consequences as well, making it harder for promoters to present meme NFT as a long-term bet.

Who would have predicted that attention deficit would be so short when it comes to investing in tits?

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