NFT of Jack Dorsey’s First Tweet Cost $2.9 Million, Now Auctioning for $2,000
The current owner of Jack Dorsey’s original tweet has put this priceless digital artifact up for sale again in NFT format. But it’s not as highly regarded as it used to be… Iranian-born crypto entrepreneur Sheena Estavi bought Twitter founder Jack Dorsey’s first-ever tweet as an NFT in 2021 for $2.9 million. the current, highest bid For NFTs, it equals 1 ETH, or $1,895.
Requested amount is $48 million
Estavi appears to have hung himself in front of OpenSea auction watchers several times since purchasing the famous NFT. Almost a year after throwing nearly $3 million into Dorsey’s five-word tweet, he hoped he could pass it on to its next owner for $48 million.
$6,800 offer after 1 year
of Spring 2022 Auction Funds held by crypto entrepreneurs have amassed only absurd amounts. This time, the highest bid for what has been described as the “Mona Lisa of the digital world” was 2.2 ETH, at a price of $6,800 at the time. Incredible depreciation expense.
Offer after 1 year for $277
An attempt to sell this famous NFT made headlines again a year later (April 2023). This time, the OpenSea Marketplace’s best offer was even worse. CoinDesk reported Estavi’s NFTs were only bid up to 0.09 ETH ($277 at the current exchange rate).
Best offer under $4 today?
Earlier today, a site like CNBC reported Estavi was once again promoting Jack Dorsey’s tweet that he “just set up a tweet”. The headlines were in utter disbelief about the $2.9 million fortune dropping to $4. At the time of this writing, he checked OpenSea, which revealed a much more favorable bid. There is currently an offer worth 1 ETH, or $1,895. This amount is 99.93% lower than what was paid to NFTs in 2021, but much better than the headline $4.
Note that even if Mr. Estavi wins a much higher bid, he may not sell. “It’s important to me that I want to buy it. I won’t sell this NFT to anyone because I don’t think anyone deserves it,” the crypto entrepreneur claimed last year.
Will interest in NFTs return?
Many of us have made ill-advised investments throughout our lives. For example, some people may have been caught up in the hysteria surrounding cryptocurrencies. However, while Bitcoin, Ethereum, etc. are far from historically high prices, they still hold considerable value. The same cannot be said for the most famous NFTs.
People will sympathize with Mr. Estavi regarding NFT’s 99.93% valuation collapse. After all, he promised to donate his 50% of the winning bid to charity. But gamers probably remember the fear they felt when the gaming industry started touting NFTs. Luckily, entertainment software giant Ubisoft only harvested $396.43 in the first two weeks of launching its Digits NFT platform, so implementing NFTs in games proved not worth the effort.
