A crypto entrepreneur bought an NFT of Jack Dorsey's first tweet for nearly $3 million and tried to sell it for $48 million. The top bid is less than $7,000.

After shelling out millions to buy the token in the first place, Estavi is struggling to sell it.

The NFT was auctioned for $48 million. The highest bid he received was about $6,856.

Estavi paid just 2% of the $2.9 million he paid for the NFT.

I think years later people will realize the true value of a social media post, like a painting, he said then.

His prediction is not playing out. Estavi found the highest bids for the token were less than the amount he paid, after listing it on the NFT marketplace.

Although the deadline was over, he might accept a good offer or never sell it.

I think the value of this NFT is far greater than you can imagine, and whoever wants to buy it must be worth it, he said.

I think someone like Musk could get this.

NFTs are certificates that prove ownership of digital assets like trading cards, music, images, or even Dorsey's. Over the past year, the total NFT sales volume has ballooned to $25 billion as artists, investors, and entrepreneurs seek to exploit the seemingly-prosperous Web3 space.

The rush to take advantage of the NFT boom has been bad for user security, according to some experts.

Although Estavi owns the digital right to the account, it is still publicly accessible to anyone who can use the internet.

Estavi, the founder of two Malaysia-based companies, claimed in a statement last week that he would donate 50% of the proceeds to poverty relief efforts in Africa.

—Estavi (@sinaEstavi) April 6, 2022

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