In the early days of the NFT market, when people were still trying to figure out what these digital assets were all about, crypto entrepreneur Sina Estavi made a bold move by purchasing Jack Dorsey’s first tweet for $2.9 million.
The NFT was viewed as a valuable collectible by the Iranian investor because it was the very first tweet ever sent on Twitter, making it historically significant and having ties to a powerful organization.
The NFT market is in a state of flux, and the value of Jack Dorsey’s first tweet is a prime example of this. The NFT was purchased for $2.9 million in 2021, but the best offer for it today is just $3.77. The value of Jack Dorsey’s first tweet is a reminder that the NFT market is still in its early stages.
Since then, Estavi has been trying to sell it. Although he has the NFT listed for $48 million, he has not been successful in finding a buyer. Estavi pledged to give the charity a portion of the sale’s earnings.
In 2021, Estavi gained attention when he paid $2.9 million for Jack Dorsey’s very first tweet. He then attempted to sell the NFT again for $48 million, but he was unable in doing so. Estavi pledged to give half of the sale earnings to charity to build up interest in the NFT.
However, the community was not inspired by this act, and just $6,800 was offered as the highest price for the NFT. Estavi was reportedly discouraged by this response, and he has since said that he might never sell the NFT.
The NFT market is feeling the heat of the broader crypto market downturn. Activity and valuations have declined, and bids for digital assets have dropped significantly.
Blue-chip NFT collections like Bored Apes and Crypto Punks have seen their floor prices fall by more than 70% from their all-time highs.