Jack Dorsey's first tweet NFT resells for only $280
The non-fungible token of the tweet was originally sold for around $2.9 million
By Shashank Bhardwaj
The NFT (non-fungible token) of Twitter CEO Jack Dorsey's first tweet, which was sold for $2.9 million to Sina Estavi last year, has failed to attract the same interest in a recent resale. While the opening bid suggested that the NFT tweet would be in high demand, the maximum bid was $280, a distant cry from the original price.
Sina Estavi, an Iranian-born crypto entrepreneur, had bought the NFT for $2.9 million in March 2021. On Thursday, April 7, he took to Twitter to announce that he intended to sell the NFT and donate the proceeds to charity. “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,” he said.
The auction, however, ended on Wednesday, April 13, with only seven bids, ranging from 0.0019 Ether to 0.09 Ether which roughly translates to $6 to $280. In response to the underperformance of the NFT, Estavi told CoinDesk, “The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it.”
Sina Estavi is the founder and CEO of Bridge Oracle (BRG) and the former owner of Cryptoland, one of Iran's major cryptocurrency exchange platforms. Iranian police are said to have arrested him last year for economic corruption. While both his businesses failed after his imprisonment, Estavi is attempting to reintroduce BRG tokens on the Binance Smart Chain now that he is out of prison. The BRG tokens were originally on the Tron blockchain.
Investors in BRG are no less than eager to swap their old coins for new ones. Estavi, who announced the token swap on the same day he re-listed Dorsey's tweet NFT for sale, however, said that the procedure is being done manually and might take up to two months.
Although interest in the NFT tweet has surged in the days since the unsuccessful resale, with bids now over $25,000, it is still a long way from the initial asking price.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash
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Backed by Shark Tank's Kevin O'Leary, WonderFi set to acquire Canadian exchange CoinberryRead More..
US Govt Links North Korea to Axie Infinity HackRead More..
Jack Dorsey's first tweet NFT resells for only $280Read More..
Opera crypto browser now available on iOSRead More..
Beanstalk Stablecoin protocol loses $182 million in governance exploitRead More..
Jack Dorsey vs. Vladimir Tenev on Bitcoin transaction feesRead More..
Ripple claims 'a very big win' in SEC caseRead More..
Argentinian town to invest in crypto mining to fight inflation, upgrade rail infraRead More..
Pantera Capital closing fundraise for its blockchain fund after raising $1.3 billionRead More..
Homegrown blockchain co Polygon commits to go carbon neutral this yearRead More..
NBA registers four NFT trademarksRead More..
US crypto expert jailed 63 months for helping North KoreaRead More..
Fortnite developer Epic Games raises $2 billion to build for the metaverseRead More..
Indian companies storm the metaverse and NFT spaceRead More..
Coinbase is producing a movie trilogy on Bored Ape NFTsRead More..
Multiple Indian Twitter accounts hacked, NFT content postedRead More..
German police shut down $1.3 billion illegal darknet firmRead More..
Meta tests sale of virtual goods in metaverseRead More..
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currenciesRead More..
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu DhabiRead More..
EU limits Russians' crypto investments to 10k EurosRead More..
Coinbase suspends UPI payments in India three days after launchRead More..
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipeRead More..
In Texas, crypto miners turn to solar powerRead More..
South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
Meta working on virtual money 'Zuck Bucks': reportRead More..
Germany closes Russian darknet marketplace HydraRead More..
Britain paves way to accept stablecoinRead More..
Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..