l’NFT of Jack Dorsey’s first tweet ever, founder of Twitter, was auctioned again. This time the trade was a colossal fiasco: The current owner was hoping to make us $48 million, about 16 times the amount he paid for it a year ago, but the highest bid was just 280 dollars
The news clearly sparked the hilarity of the – many – opponents of the NFT market, considered by many to be a hyper-speculative arena that often hides nothing cosmically behind terrifyingly high numbers.
The NFT is a screenshot of the first tweet ever posted by Jack Dorsey and was auctioned in March 2021. The auction was sponsored by Dorsey herself, who donated the proceeds of the sale – 2.9 million dollars – to charity.
The sale of the tweet caused quite a stir at the time, as it was one of the first NFTs to sell for six figures. It was also one of the first NFTs of this type: that is, a screen of a tweet turned into a token registered on the blockchain.
I decided to sell this NFT (the world’s first ever tweet) and donate 50% of the proceeds ($25 million or more) to charity @GiveDirectly
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🖇 https://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0— Estavi (@sinaEstavi) Apr 6, 2022
Meanwhile, the NFT market has changed dramatically and moved to other types of digital collectibles. Tokenizing tweets has almost gone out of fashion, when they are doing really well now pfp collections: these are drawings with extravagant characters, to be used as a profile image on social media, which often come with various more or less useful benefits. The success of the NFT from the Bored Ape Yacht Club Collection – or the most recent DeGods and Cet on Krek on Solana – is an example of this formula and clearly shows where the NFT market has evolved in recent months.
Dorsey’s tweet was bought for $2.9 million by an Iranian collector, Sina Estovic, who recently decided to put it back up for sale, hoping to make at least 40 million. The new auction received a total of seven bids, the highest of which was just $277 – 0.01% of the price originally paid.
But Estavi isn’t throwing in the towel: Interviewed by CoinDesk, the collector explained that if he gets a bargain private offer, he can still sell the NFT, or else he’s still happy to have the tweet in his collection.
Sina Estavi is an entrepreneur and had founded two companies related to the world of cryptocurrencies: Bridge Oracle and CryptoLand, both closed after his arrest in Iran.
Source: Lega Nerd
