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A man bought an NFT for $2.9M, then listed it for $48M. The top bid was less than $280

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For the uninitiated, buying a non-fungible token (NFT) may seem like an immediate — albeit, expensive — financial win. However, that’s not always the case.

Just last month, an NFT by graphic designer Beeple sold for US$69.4 million at auction. So when crypto entrepreneur Sina Estavi listed an NFT of Twitter co-founder Jack Dorsey’s first tweet for $48 million last week, many were shocked to find the highest bid at the auction’s close was only $277. Read more: Edmonton Public Library makes history by lending local author’s book as non-fungible token just setting up my twttr — jack⚡️ (@jack) <a href=«https://twitter.com/jack/status/20?ref_src=» https: globalnews.ca>March 21, 2006 Estavi had purchased the NFT last year for $2.9 million, and was clearly expecting a similar selling price this time around.

I decided to sell this NFT ( the world's first ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity <a href=«https://twitter.com/GiveDirectly?ref_src=» https: globalnews.ca>@GiveDirectly ‌‌‌‌‌‌

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Canada’s top court says voluntary extreme intoxication a defence in violent crimes - globalnews.ca - Canada
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Canada’s top court says voluntary extreme intoxication a defence in violent crimes
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