Last year, crypto entrepreneur Sina Estavi paid $2.9 million for Twitter founder Jack Dorsey's first-ever tweet as an NFT. Last week, he relisted the NFT for sale at $48 million.

A non-fungible token (NFT) of Twitter co-founder Jack Dorsey's first tweet could fetch less than $280. Last week, the NFT's current owner listed it for $48 million.
More information: The buyer of the 'Jack Dorsey Tweet' NFT has been released from prison and is under fire from investors.

‍Sina Estavi, an Iranian-born crypto entrepreneur, paid $2.9 million for the NFT in March 2021. Last Thursday, he announced on Twitter that he planned to sell the NFT and donate half of the proceeds (which he estimated would exceed $25 million) to charity. The auction ended on Wednesday, with only seven bids ranging from 0.09 ETH ($277 at current prices) to 0.0019 ETH (nearly $6).

"The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it," Estavi said in a WhatsApp message to CoinDesk on Wednesday.

Estavi, whose cryptocurrency ventures Bridge Oracle and CryptoLand failed after his arrest in Iran last year, is in the process of relaunching his Bridge Oracle tokens (BRG), which were previously on the Tron blockchain, on the Binance Smart Chain.

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Investors in BRG are waiting for Estavi to exchange their old tokens for new ones. Estavi, who announced the token swap on the same day he relisted Dorsey's tweet NFT for sale, told CoinDesk that the process is being carried out manually and could take up to two months to complete.

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