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Thursday, May 26, 2022

The beautiful dream and the harsh reality: ‘Jack Dorsey’s First Tweet’ NFT Went on Sale for $48M. It Ended With a Top Bid of Just $280

The beautiful dream and the harsh reality: ‘Jack Dorsey’s First Tweet’ NFT Went on Sale for $48M. It Ended With a Top Bid of Just $280

Crypto entrepreneur Sina Estavi bought Twitter founder Jack Dorsey’s first-ever tweet as an NFT for $2.9 million last year. He listed the NFT for sale again at $48 million last week.

A non-fungible token (NFT) of Twitter founder Jack Dorsey’s first-ever tweet could sell for just under $280. The current owner of the NFT listed it for $48 million last week.

Read more: Buyer of ‘Jack Dorsey Tweet’ NFT Is Out of Prison and Under Fire From Investors

Iranian-born crypto entrepreneur Sina Estavi purchased the NFT for $2.9 million in March 2021. Last Thursday, he announced on Twitter that he wished to sell the NFT, and pledged 50% of its proceeds (which he thought would exceed $25 million) to charity. The auction closed Wednesday, with just seven total offers ranging from 0.09 ETH ($277 at current prices) to 0.0019 ETH (almost $6).

“The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it,” Estavi told CoinDesk via a WhatsApp message on Wednesday.

Estavi has two days to accept the bid, or it will expire.

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 @GiveDirectly
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🖇 https://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0 - Estavi (@sinaEstavi) April 6, 2022

Estavi, whose crypto ventures Bridge Oracle and CryptoLand collapsed following his arrest in Iran last year, is in the middle of relaunching his Bridge Oracle tokens (BRG), which were originally on the Tron blockchain, to the Binance Smart Chain.

BRG investors are waiting for Estavi to exchange their old tokens for the new ones. Estavi, who announced the token swap on the same day he put up Dorsey’s tweet NFT for sale again, told CoinDesk that the swap is being run manually and the process may take up to two months to complete.

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