More than a year since its launch, former Twitter CEO Jack Dorsey’s first tweet, which was converted into a non-fungible token (NFT) and sold for $2.9 million, is now valued at a dismal price of less than $2,000. The NFT was created in 2021 and was purchased by Iranian crypto entrepreneur Sina Estavi.
Dorsey’s first tweet had read: Just setting up my twttr. The NFT was listed for sale again in April 2022 at a price of $48 million. It was posted on March 21, 2006.
Announcing his decision to create an NFT out of his first tweet, Dorsey had said that he would be selling the “world’s first tweet” and give away half of the proceeds to a charity.
When the auction closed, there were just seven offers that ranged between 0.09 ETH (approximately $277) and 0.0019 ETH (approximately $6). Currently, the best price that Dorsey’s first tweet NFT is a little under $2,000, even though Estavi has claimed that he doesn’t plan on selling the digital asset.
In 2021, Estavi was arrested during a trip to Iran and held in solitary confinement. He was finally freed in February and currently lives in Malaysia. According to Iranian media, Istavi was accused of disrupting the nation’s “economic system”. Following his arrest, his two ventures – CryptoLand and Bridge Oracle subsequently became defunct.
The tweet NFT was put up for sale in a digital auction in March 2021. The bids were managed by a platform called ‘Valuables by Cent’. With the platform, people can post offers on tweets that have been signed or autographed by their original creators.
Dorsey had later announced that the proceeds from the auction would be converted into Bitcoin tokens and sent to GiveDirectly, which is a charitable organization that gives cash to the poor.
Over the years, many cryptocurrencies and crypto asset firms have taken to Twitter to announce new developments on topics like live cryptocurrency prices and how to invest in cryptocurrency in India.
In fact, for a lot of Indians, Twitter is a leading source of cryptocurrency news in India and cryptocurrency tax in India. For years, the top ten cryptocurrencies have banked on Twitter to ramp up their community.
Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
