NFT of Twitter founder Jack Dorsey’s first tweet that sold for $2.9 million recently had opening bid of $1
Vijay Thakre
When NFTs were at their peak, one cryptocurrency entrepreneur by the name of Sina Estavi decided to purchase one of Twitter founder Jack Dorsey’s first tweet for $2.9 million.
It was an astounding amount of money to spend to own a digital copy of a tweet.
But Estavi is probably kicking himself right about
now.
He's tried to flog the NFT on multiple occasions and not received any offers remotely near the amount he paid for it.
The opening bid on his latest attempt to rid himself of the NFT was just 0.0006 ETH ($1.13
)
A few more bids have come in since then, with the highest currently being 2 ETH ($3,761.80).
That's significantly better than $1, but still a fair way short of the $2.9 million Sina paid for it.
Estavi had hoped to sell his NFT for $48 million and send 50 percent of the proceeds to charity.
But things didn’t go as he planned, as the NFT market collapsed and it saw a significant drop in the value of non-fungible token platforms.
A non-fungible token is a digital identifier recorded on a blockchain, and is used to certify ownership and authenticity.
According to Chainalysis, the average price of non-fungible token sales plummeted by 92 percent since the beginning of May 2022 (the price fell from $3,894 to $293).
