Currently, the highest bid at the time of writing is only US$31,895.39, a sharp decline from the US$2.9 million it was initially sold for last year
Last year, Jack Dorsey’s first-ever tweet was sold as a nonfungible token (NFT) for over US$2.9 million. Today, the NFT is worth only a handful of thousands after its value plummeted when it was being auctioned off once again.
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The tweet was auctioned as an NFT in March last year by Dorsey (who was the CEO at that point). It went on sale on the “Valuables” platform which is run by Cent, a blockchain-powered social media network.
The tweet, which was 15 years old at that point, read, “just setting up my twttr” and it was purchased by crypto entrepreneur Sina Estavi for 1,630.58 ether. This translated to an estimated US$2.9 million at that time.
Estavi received a certificate that was digitally signed and verified by Mr Dorsey as well as the metadata of the original tweet. The data includes information such as what time the tweet was posted and its text contents.
just setting up my twttr
— jack⚡️ (@jack) March 21, 2006
This week, Estavi, who is the chief executive of blockchain company Bridge Oracle, announced on Twitter that he was going to be selling the NFT on Opensea, an NFT trading platform.
Estavi also announced that he planned to donate 50 per cent of its proceeds to charity.