Man Buys NFT of First Tweet for $4M, Asks for $67M, but Offered $4,998

 Apparently, the NFT of Jack Dorsey’s first tweet struggles to sell

Estavi put the NFT for sale on April 9, 2022, and hoped to earn about US$ 50 million. He also had noble intentions for the profit as he wanted to donate about half of it to charity. The price he hoped to get for the first tweet token was too high for something everyone could easily see, screencap, download, and enjoy by just spending a few seconds.

The auction for the NFT of the first tweet of Jack Dorsey

When the auction for the first tweet NFT was held, only a handful of bidders showed an interest. What’s ironic is that the highest offer for the NFT was US$ 227 or AU$ 385. Since then, things have changed because another offer of US$ 3,600 or AU$ 4,998 has come up. So, the investor didn’t get what was expected from the NFT.

 

In an interview regarding the first tweet’s token auction, he said, “The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it.”

 

The timing of the NFT sale is quite interesting. Estavi was released from prison in Iran. He had spent nine months there as he was arrested on charges of “disrupting the economic system.” During that time, his cryptocurrency ventures crashed. Also, his attempts to appease those burned by that collapse are now being met with scepticism.

 

The auction of the first tweet token also came at an inconvenient time. It’s because the NFT sales tracked on Opensea, the single largest marketplace in the space, were down by about 50% in 2022. It was approximately $US5 billion ($7 billion) in January but came down to $US2.5 billion (around $3 billion) in March. Due to this decline, many “blue chip” NFT owners search for “alternative uses” for their tokens. It is a intriguing development because it implies there was ever a use in the first place.

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