NFT

NFT Bro Loses MILLIONS In Failed Investment




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An NFT of Twitter co-founder Jack Dorsey’s first tweet was sold for $2.9 million last March to NFT collector Sina Estavi. Estavi recently put the NFT up for auction last week, and as of this video, the highest bid is at $3,600 as the NFT market has seen a 50% decrease in sale prices. Ana Kasparian discusses on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://gizmodo.com/nft-of-first-tweet-ever-secures-bid-of-just-277-after-1848792116

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“Crypto investor Sina Estavi bought an NFT of Twitter cofounder Jack Dorsey’s first tweet ever for $2.9 million in March of 2021. And after a year of constant hype for NFTs, most people would naturally assume Estavi might be able to turn a nice profit on his investment by now. But most people would be wrong.

Estavi put the NFT up for auction last week, and bidding ended on Wednesday. The highest bid? Roughly $277 worth of the cryptocurrency Ethereum, at current prices, according to crypto news outlet CoinDesk.

Estavi had hoped to get as much as $48 million for the NFT and pledged to donate half of the price to charity. But that’s obviously not happening anymore. The crypto businessman has a couple of days to decide whether he wants to accept just $277 for his multi-million dollar investment. But we’d guess he’s just going to keep it.

The NFT in question, like all non-fungible tokens, is simply a digital contract stored on a blockchain claiming “ownership” through a hyperlink that points to a digital object—in this case, Dorsey’s historic first tweet. If that doesn’t sound exciting to you, you’re not alone. The average person still has a hard time understanding what they’re buying when they purchase an NFT. And when people discover it’s often just a receipt to something they can already see online, it sounds dumb.”

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220414__TA03_NFT_of_First_Tweet

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Get Schwifty
Get Schwifty
1 month ago

How hilariously coincidental is it, the ad before this video was for a blockchain company?😅

FINANCE BOSS
FINANCE BOSS
1 month ago

This season has been really great, I've been making massive profits on my crypto investment all thanks to my Expert, Frederick Joseph.

Julia Carl
Julia Carl
1 month ago

In the 1600s there was the same bubble with tulips… Yes, tulips! A lot of people went broke over it.

Walter Machnicz
Walter Machnicz
1 month ago

Another idiot millionaire wasting money in "investment" that helps anyone.
Republican Capitalist economic wisdomdemonstrated.

In da Drops
In da Drops
1 month ago

Oh well 🤣😂

Benjamin Daniel
Benjamin Daniel
1 month ago

Sometimes it's good to understand the basic strategies and indicators in making a profitable trade come through..As a beginner and a newbie you shouldn't be in a rush without proper knowledge of what you are investing on..A newbie in crypto should be long term minded and also work close with good financial advisors.

Michael Kirdoek
Michael Kirdoek
1 month ago

Wenn Dich das Leben fickt, fick einfach zurück . . . ROTFLMAOOOOOOOO

Richard Termine
Richard Termine
1 month ago

Crypto currency and NFTs will outsmart the banking system in the nearest future serving as a global fiat. $28,000 just in two weeks Mrs Christine Norine Martin so amazing

Stephen
Stephen
1 month ago

TA is all well and good but I find it truly baffling that all major crypto youtubers just look at pure TA and completely ignore the bigger narrative of why BTC is pumping and why the future outlook might not be as rosy as it seems. It's kinda irresponsible to ignore the fact that each ETF launch so far has caused a major dump at the peaks of BTC. More emphasis should be put into day tradiing as it is less affected by the unpredictable nature of the market. I have made over 12 BTC from day tradng with Ramondroy, insights and signals in less than 2 weeks, this is one of the best medium to backup your assets incase it goes bearish…..

Mister Kim
Mister Kim
1 month ago

Same thing can be said for art, diamonds or the recent Superman #1 that sold for over $5m. Much like the dot com crash, give it time to mature and stabilize. I believe in the idea, but I'm not rushing out to buy anything. Crypto is a different ball game… BTC is a way to bypass the corrupt banking system… blah, blah blah.

Jack Thapa
Jack Thapa
1 month ago

Agreed about everything except biden. Man doesn't know he's the president let alone other things 😅🤣

Jack Thapa
Jack Thapa
1 month ago

When you ever feel stupid, just remember of this estavi bro.

Sacha narai
Sacha narai
1 month ago

Profiting $32,650 every two weeks, Mr. Barry Silbert has totally changed my life.

Filadelfo Meza
Filadelfo Meza
1 month ago

People are so stupid with this. If you buy it at that price that doesn't mean that everyone wants that NFT or that NFT is going to hold value, the person that is selling it the first time makes money base on maybe that NFT is going to valuable, it's a gamble, a dumb gamble

ATX SAILOR
ATX SAILOR
1 month ago

🤣🤣🤣

MrSubsound90
MrSubsound90
1 month ago

It's not an error, it's a feature

Tom an actual patriot
Tom an actual patriot
1 month ago

The Tulip mania ………
Is Bit coin heading the same way ?
Money , crypto currency, nft, art work , and so on , all have an implied value .
How stable the acceptable of value certainly depends on several factors and hype is the drug hit factor , then duration and portability , associated guarantee of value ( national currency )
Lol don’t worry we have Joe Biden, yeah how comforting .
On the student loan debt , no I don’t think you deserve free money unless you will be giving me the same ( average amount) because why should my tax money go to improve your finances when I too could use some more money?
Did you spend 40,000 on a poly sci degree with no investigation into the job market prior to our investment in you ?

aaronsande
aaronsande
1 month ago

A fool and his money…. Stop telling us rich people are smarter than we are. It's ridiculous.

aaronsande
aaronsande
1 month ago

That value will go back up once Elon Musk turns Twitter into a toxic waste dump.

khon
khon
1 month ago

that's nothing new, that person learned a very expensive lesson

D Eiland
D Eiland
1 month ago

People were laundering money before crypto. Criminals will always find a way to do something illegal

ZarlanTheGreen
ZarlanTheGreen
1 month ago

NFTs and crypto isn't worthless!
It's LESS THAN worthless, as it consumes MASSES of energy (thus massively contributing to climate change), helps/encourages exploitation, helps/encourages criminal activity…

G M
G M
1 month ago

No
F**king
Trump
Has got to be worth trillions.

dookdawg214
dookdawg214
1 month ago

I only put a couple thousand on cryptos a while back just to hedge my bets. I never believed crypto would be sustainable, at least not in its current unregulated form. But I figured, just in case, I’m going to put a bit of money on it. My position is, only put down what you’re willing to lose. In just a few weeks my investment doubled, mostly thanks to ETH. But then everything crashed at the end of last year, and it’s just been a yo-yo since then. Even if it means losing some money, I actually love that crypto is a big dud right now, just to laugh at loud-mouth crypto bros. As for NFTs, ha ha, they really are an absolute joke of a scam. At least crypto currency has some sort of real-life application. NFT’s make no freaking sense. It’s like buying a star in the sky. Something you can claim is yours even if nobody else needs or wants it. LOL

geeksworkshop
geeksworkshop
1 month ago

NFTs are just sticker books for the stupidly rich and dumb. You can't even "lose" them for their insurance….

scottf 345
scottf 345
1 month ago

Can't say I'm sad.

CallmeD
CallmeD
1 month ago

An NFT is just an entry on the blockchain that points to a url that points to a n image. That’s it. If the website stops paying for their domain that url points to nothing. It’s a scam.

Zizi Mugen
Zizi Mugen
1 month ago

Excellent. Everyone who buys NFTs should have all their money taken from them. If they want to spend money on literally nothing, I can charge them half and use it for things infinitely better than NFTs.

Mark Storer
Mark Storer
1 month ago

I would love to get into the NFT market but it's expensive with the gas price alone, something could cost $18 but the gas could be over $400

Eric Paul Goldie
Eric Paul Goldie
1 month ago

this title is gold

Perri Ponders
Perri Ponders
1 month ago

Everything you say about crypto, which is true, can also be said about the entire art world. Paintings sell for tens of millions but only have that worth because of similar hype from the elite. You can also get a digital print of any of this art and have it yourself, for free. NFTs have just copied what the art world has done for centuries, create a hype and then sell that hype.

xtroguyver
xtroguyver
1 month ago

wow what a waste of money for something that has no value as the saying goes a fool and his money are soon parted

Ted Alert
Ted Alert
1 month ago

You can make the same argument for Art, Gold, crypto-currencies, MONEY in general, .. (the list ist lengthy), it all is just worth something when people are willing to give something in return for it! I don´t see the reason to bash on NFTs other than it´s overhyped and we are oversaturated with gambling-options already. Trust is the one thing that matters and defines the worth .. no matter how little actual substance that trust has!

Diego
Diego
1 month ago

It's almost as if NFTs were nothing more than one big scam targeting morons with too much money and very little brains.

One Drone Pilot
One Drone Pilot
1 month ago

HA….. I’ll give him AU$5.00

dan Halo
dan Halo
1 month ago

What a freaking idiot how can you think that someone else would be willing to pay more than 2 million dollar only so that he can brag that he technically "owns" the first tweet? I really don't feel bad for this guy wasting his 2.5 million at all because he lacks any and all common sense someone like this should not even have million and millions to throw around to begin with…..

Xxx
Xxx
1 month ago

One thing I can’t stand is the word “bro” being used constantly. Only vids I don’t like on tyt. Crypto bro now NFT bro lol sounds cringey and wouldn’t want to be called that sounds corny

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