twitter Loses 99.9% Most Famous NFT

twitter Loses 99.9% Most Famous NFT After paying more than $2.9 million for the NFT, anticipating for a dream-like return on his investment, crypto entrepreneur Sina Estavi tries to sell his priceless first-ever tweet NFT for a whopping $48 million and gets rolled. Buyers showed no interest in the NFT, and it quickly lost value when the highest price at the auction was 280$. Sina Estavi wished he could sell the NFT for a price increased by 17000 percent so that he could donate half of its value, $25 million, to charity. The bad news is that you would still get an 8500% profit, which is absurd considering that he didn’t add any value to an NFT that has no worth in the first place. Estavi also has a criminal past. He was detained in his native country of Iran last year and accused with “disrupting the economic system” as a result of his contentious crypto project CryptoLand, which is a proposal to build a private island for only crypto geeks to live on and pursue their “crypto passion.” Iranian authorities compelled Estavi to abandon the project. What This Means for Non-Traditional Trading (NFT) Investors twitter Loses twitter Loses Run as quickly as you can without looking behind. NFTs, like meme currencies with no intrinsic value, are fundamentally a fraud, and investing in a scam is the worst thing you can do. In the real world, you can’t add value to anything unless you also put in the work to explain the addition. In the realm of NFT, you may generate value out of thin air. “There is hardly nothing that people cannot make into a market.” “However, there are growing speculative bubbles in items that have no underlying value,” says John Hawkins, a finance lecturer at the Canberra School of Politics. “NFTs have joined Bitcoin and famous meme-based cryptocurrencies such as Dogecoin and Shiba Inu as instances of tokens with no inherent value that speculators acquire in the belief that the price will continue to rise.” What do you think? It’s nearly hard for the price to keep growing without duping new investors into believing that major investors will never conduct a rapid, swift, and seamless rug pull. Rug Pull Crypto Scams Rug pulls are the most blatant sort of crypto scam, and they occur when a content creator or blockchain developer promotes for a new revolutionary and cutting-edge crypto project, promising investors millions of dollars for tiny deposits. The majority of the time, it will be a new crypto currency that the designers hope will be purchased. They certainly do. When the currency has enough investor backing, the developer initiates a procedure in which investors may buy but cannot sell. Soon after, the developer abandons the project and takes all of the coin’s profits by converting them to cash, twitter Loses depleting the exchange’s liquidity pool and reducing the coin’s value to $0. An anonymous group of developers created the token SQUID in a recent crypto scam, claiming to be linked with the popular program Squid Game when they had no links to the show at all. The crooks managed to raise the coin’s value to $2,861 before pulling the rug out from under them and fleeing with an estimated $3.38 million. Last year, crypto investors lost more than $2.8 billion to rug pull twitter Loses schemes, and if more individuals continue to enter the crypto business with the intention of generating quick money, this figure will only rise. Photo by olieman.eth on Unsplash Add Your Heading Text Here


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