dorsey: Jack Dorsey’s First Tweet as NFT ended with a top bid of $280 only
Jack Dorsey’s tweet in the form of NFT was sold in an auction on April 13 at the highest bid for only $280. The tweet NFT that reads ‘just setting up twttr’ is a tweet by Jack Dorsey dated March 22, 2006. It was resold by Iranian crypto entrepreneur Sina Estavi. Estavi, who is the NFT owner, had listed the tweet for auction on OpenSea for $48 million. However, the tweet could attract the highest bid of only $280. The auction closed on April 13, and altogether received only 7 bids. These ranged from 0.09 ETH (Ethereum) to 0.0019 ETH, according to Coindesk, which was quite lower than Estavi‘s expectation.
Estavi had posted on Twitter on April 6 that he had decided to sell the world’s first tweet and would pledge half the amount to GiveDirectly, a charity that allows donors to give money directly to people living in poverty. To this tweet, Dorsey replied that he should think of donating 99% of the proceeds from the sale. Sina Estavi is currently based in Malaysia and is the CEO of two Malaysian cryptocurrency companies, including Bridge Oracle.
More bids have been offered since the bid closed, but even the highest offer of $12,712 on OpenSea website at the time of writing is quite low to what Estavi paid for the NFT, last year. After the auctions, Estavi said that he is not obliged to sell the NFT and the deadline he had set has passed, but he may accept a good offer, or may not sell it ever.
The tweet was originally auctioned off on March 22, 2021 worth $2.9 million on a platform called Valuables which is owned by the US-based company Cent. The NFT was bought by Sina Estavi, then using the cryptocurrency Ether for 1630.5825601 ETH, and was worth $2,915,835.47 at the time of sale. Dorsey received 95% of the proceeds from the primary sale of the tweet, while Cent received 5%. Dorsey had pledged then to donate the proceeds from the sale to people impacted by COVID-19 in Africa.
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Estavi had posted on Twitter on April 6 that he had decided to sell the world’s first tweet and would pledge half the amount to GiveDirectly, a charity that allows donors to give money directly to people living in poverty. To this tweet, Dorsey replied that he should think of donating 99% of the proceeds from the sale. Sina Estavi is currently based in Malaysia and is the CEO of two Malaysian cryptocurrency companies, including Bridge Oracle.
More bids have been offered since the bid closed, but even the highest offer of $12,712 on OpenSea website at the time of writing is quite low to what Estavi paid for the NFT, last year. After the auctions, Estavi said that he is not obliged to sell the NFT and the deadline he had set has passed, but he may accept a good offer, or may not sell it ever.
The tweet was originally auctioned off on March 22, 2021 worth $2.9 million on a platform called Valuables which is owned by the US-based company Cent. The NFT was bought by Sina Estavi, then using the cryptocurrency Ether for 1630.5825601 ETH, and was worth $2,915,835.47 at the time of sale. Dorsey received 95% of the proceeds from the primary sale of the tweet, while Cent received 5%. Dorsey had pledged then to donate the proceeds from the sale to people impacted by COVID-19 in Africa.
For the latest crypto news and investment tips, follow our Cryptocurrency page.