NFT auction of Twitter’s first tweet flops spectacularly

A crypto entrepreneur who purchased an NFT of Jack Dorsey’s first tweet a year ago for $2.9 million is looking to resale it. Here is all you need to know

The first Tweet

As NFTs and digital collectibles gained mainstream attention last year, everyone started looking for how they could be a part of these developments. The concept of immutable ownership excited many, and more so, it linked to the steady rise of the metaverse.

This led to over $17 billion traded in non-fungible tokens last year, and the largest NFT marketplace, OpenSea, garnered over $13.3 billion in valuation, with several NFT collections, like those from Yuga Labs, soared in value.  

Jack Dorsey listed his first tweet on Twitter for sale with a similar intent to ride on this momentum. Despite the exciting year, the NFT market experienced last year, the tweet sold for $2.9 million. The eventual buyer was a Malaysian-based crypto entrepreneur named Sina Estavi. 

After an auction on an online platform called Valuables, owned by US-based Company Cent, the sale was finalized. As proof of ownership, Mr Estavi received a digitally signed and verified certificate by Jack Dorsey. This transfer included the metadata of the original tweet, such as the time Jack Dorsey shared the tweet.

The second sale: Finding a $48 million buyer

Mr Estavi put up the NFT of Jack Dorsey’s first tweet for resale last week for $48 million, and he had earlier claimed to receive an offer for $10 million for the tweet. He also announced in a tweet that half of the sale price, which he assumed would amount to around $25 million, would go to charity. 

Continues over on NFT News Today.

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