NFT of Jack Dorsey’s first tweet is failing to recoup original investor’s money


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The NFT craze has been heating up with many people making investments in various NFT markets. Back in March 2021, Sina Estavi laid out US$2.9 million for an NFT of Jack Dorsey‘s first tweet. The crypto entrepreneur has been trying to re-sell it and started off asking US$48 million for it.

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The initial purchase was at the time among the most expensive sales of a non-fungible token, or NFT, and came amid a flurry of interest in the niche crypto assets which have since generated billions of dollars in sales. read more

Estavi put the tweet up for resale on the popular NFT marketplace OpenSea last week, initially asking for $48 million.

That price tag was removed after offers in the first week were in the low hundreds of dollars. As of Thursday, the highest bid was 2.2 of the cryptocurrency ether – equivalent to around $6,800.

“My offer to sell was high and not everyone could afford it,” Estavi, who was recently freed from jail in Iran, told Reuters via Twitter direct message, adding that he was no longer sure if he would sell the NFT.

“It’s important to me who wants to buy it, I will not sell this NFT to anyone because I do not think everyone deserves this NFT,” Estavi said.

Reuters

The NFT market is an interesting thing; not everyone agrees that there is value in it, but those who believe there is value are all in. It will be interesting to watch how this whole idea shakes out.

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Last Updated on April 16, 2022.

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