Bids for Jack Dorsey tweet NFT range from $6 to $280, far cry from the $48 million target

Owner bought it for almost $3 million last year

Bloomberg News

Patrick McHale

The nonfungible token of Jack Dorsey’s first tweet, which sold for $2.9 million last year to Sina Estavi, attracted bids ranging from US$6 to about US$280. Photo by MARCO BELLO/AFP via Getty Images

The nonfungible token of Jack Dorsey’s first tweet, which sold for US$2.9 million last year to Sina Estavi, failed to garner much in the way of interest when it was recently put up for resale, Coindesk reports.

The auction for the NFT closed with only seven offers ranging from just 0.0019 Ether to 0.09 ETH, or about US$6 to about US$280. A far cry from the US$48 million sought by the owner.

Estavi, the chief executive officer of Malaysian blockchain service Bridge Oracle, announced last week on Twitter that he’d put the NFT version of the March 21, 2006 tweet saying “just setting up my twttr” up for sale for 14,969 Ether. He paid USUS$2.9 million for it in March last year.

After his initial tweet announcing the sale, Estavi followed up with another promising to donate 50 per cent of the proceeds to the charity GiveDirectly, which gives cash to people living in poverty, and which Dorsey had said he’d supported after the first sale of the NFT.

Dorsey responded on Twitter: “why not 99% of it?” He directed his response to Estavi, GiveDirectly and Tesla Inc. founder (and recent Twitter board member) Elon Musk.

Estavi has two days to accept the bid or it will expire. He told Coindesk via WhatsApp, “The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it.”

Bloomberg.com