As you may recall, just over a year ago we wrote about Jack Dorsey’s very first tweet after he listed it as a non-fungible token (NFT) in an auction. The NFT was bought by Iranian-born crypto entrepreneur Sina Estavi for $2.9 million in March 2021. It seems that Estavi now has buyer’s regrets.
Last Thursday, Estavi announced on Twitter that he was selling the NFT. Hoping for a net profit of $50 million, he pledged to donate 50 percent of the proceeds to charity. In a tweet, Estavi said:
“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.”
— Estavi (@sinaEstavi) April 6, 2022
Unfortunately, the $2.9 million NFT failed to bid $300 at the OpenSea auction. According to CoinDesk, Wednesday’s auction ended with just seven total offers ranging from 0.09 ETH ($279.56 at current prices) to 0.0019 ETH (almost $6).
In a WhatsApp message on Wednesday, Estavi told CoinDesk:
“The deadline I set had expired, but if I get a good offer I might take it, I might never sell it,” Estavi told CoinDesk via a WhatsApp message on Wednesday.
At the time of writing, the auction has received a new bid of $528.07. Estavi has two days to accept the bid or simply let the offer expire. What Estavi would do is anyone’s guess.
Below is Dorsey’s first tweet, posted on March 21, 2006. The tweet comes with a hand-signed digital certificate and is signed using cryptography with metadata from the original tweet.
“The tweet itself will continue to live on Twitter. What you’re buying is a digital certificate of the tweet that’s unique because it’s signed and verified by the creator,” Dorsey said.
What does this mean for the future of NFTs? Nobody knows for sure. Deep pocket investors continue to pour billions into space hoping this will be the next digital gold rush.