Jack Dorsey’s First Tweet NFT Listed for $48 Million; Receives a Prime Bid of Simply $280

Following the increase of NFTs out there, an Iranian crypto investor purchased the world’s first

Following the increase of NFTs out there, an Iranian crypto investor purchased the world’s first tweet, made by Twitter founder and former CEO Jack Dorsey again in 2006, as an NFT for $2.9 million final yr. Nonetheless, it looks as if the NFT has misplaced a lot of its worth over the previous yr. Though the investor listed it on an NFT marketplace for $48 million, the NFT obtained a prime bid of simply $280! Take a look at the main points beneath.

$2.9 Million First Tweet NFT Receives Highest Bid of $280!

Iran-born crypto investor Sina Estavi, again in March 2021, purchased the NFT of Jack Dorsey’s first tweet, which can be the world’s first-ever put up on the now-popular microblogging platform Twitter, for a sum of $2.9 million. Dorsey put up the tweet as an NFT again in December 2020 when the NFT market was thriving.

Though preliminary bids for the NFT ranged within the thousand greenback bracket, when the NFT market noticed a increase in early 2021, Estavi swept in and paid the whopping quantity of $2.9 million for the NFT-tweet. In a press release to Forbes, Estavi mentioned that he paid such a hefty quantity for the NFT, contemplating its uniqueness and its relation to such a giant firm as Twitter.

Earlier this month, Estavi took to Twitter to announce his want to promote the $2.9 million first-tweet NFT for an extravagant value of 14,969 ETH or round $48 million. He listed the NFT on OpenSea and pledged to donate 50% of the worth, which he anticipated to cross the $25 million mark, to charity. You may try the tweet hooked up proper beneath.

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Nonetheless, embarrassingly sufficient, the highest bid for the $48 million NFT solely reached round $280. Questioning what occurred to the worth of the NFT in a single yr? Whereas Estavi says “nobody is aware of” why the bids got here in so low, Mitch Lacsamana, the Head of Advertising and marketing for an NFT buying and selling group, says that the mentioned NFT-tweet doesn’t have any function or utility aside from having a historic significance.

“What’s the utility of that NFT? Does Jack Dorsey take you out to dinner in Silicon Valley? What’s the actual worth proposition right here? I believe time has most likely informed us, and it’s most likely nothing,” Lacsamana mentioned in a press release. “The market isn’t prepared to leap into actually something {that a} celeb or somebody of excessive stature would possibly launch,” the NFT collector informed Forbes. “I believe final yr was a extremely good time for that, however lots of people have grown weary of cash-grab techniques,” he additional added.

NFT Investor Lists Jack Dorsey's First Tweet NFT for $48 Million; Receives a Top Bid of $280

As of writing this text, the best bid for Estavi’s NFT-tweet stands at 4.76 ETH, which is barely above $14,000. The mentioned NFT is part of the “Tweets” assortment on OpenSea and has been minted on the Polygon blockchain. So, if you’re concerned about making a suggestion for it, test it out on OpenSea. Additionally, tell us your ideas on the huge depreciation of the worth of the NFT within the feedback beneath.