A year after it was sold as an NFT, Jack Dorsey's first-ever tweet is only worth a few thousand dollars.
In March of 2021, Jack Dorsey, then-CEO of Twitter, auctioned his first message as an NFT on the Valuables platform run by Cent.
The 15 year-old anodyne tweet was purchased by an investor.
On Wednesday last week, Estavi announced that he was selling the NFT on OpenSea and would donate 50% of its proceeds to charity. As of the time this story was published, the highest bid was $9,968, a $2,905,867 drop in value.
Estavi, the chief executive of Bridge Oracle, said on Thursday that he may never sell his stake in the company unless he gets a high bid.
Estavi seems to be taking the drop in value in stride. There was a reference to Musk's takeover bid for Twitter in the retweet.
NFTs are digital media that can be traded or sold on a network of computers around the world.
There are limits to the NFT market, which exploded in value over the last two years, due to the lack of high bids for such a high-profile NFT. A report from NFT shows that the amount of non-fungible token trading increased by 21,000% last year.
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