The owner of Jack Dorsey’s first tweet-turned-NFT, who bought the NFT for $2.9 million last year, is looking to sell it for nearly 16 times higher at $48 million. Sadly, the highest bid it has received presently stands at 2.2 ETH, or $6,802.51.
Announcing his intention to sell the NFT last week, crypto investor Sina Estavi stated that he would donate 50% of the proceeds to the charity GiveDirectly, granted that the NFT would garner $25 million or more in sales.
I decided to sell this NFT ( the world's first ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity @GiveDirectly
🖇 https://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0
— Estavi (@sinaEstavi) April 6, 2022
The auction, however, only received a bid of 0.9 ETH, or $280, before its expiry on April 13. At press time, the highest bid the auction has received stood at a mere $6,802.51, just over 0.23% of the $2.9 million he paid a year ago.
“Last year, when I paid for this NFT, very few people even heard the name NFT. Now I say this NFT is the Mona Lisa of the digital world. There is only one of that and it will never be the same,” Mr. Estavi told BBC. “Years later, people will realise the value of this NFT. Keep that in mind.”
Jack Dorsey, co-founder and former CEO of Twitter, sold his first Tweet as an NFT for $2.9 million in March last year. At the time, the tweet, which read ‘just setting up my twttr’ was sold on Valuables, an NFT marketplace run by Ethereum-based social media network Cent. The funds raised from the auction were donated to charity.
Sina Estavi, an Iranian-based crypto entrepreneur, bought the NFT at the time. He was later arrested in Iran resulting in his crypto ventures Bridge Oracle and CryptoLand closing down.