NFT of Twitter co-founder Jack Dorsey’s first tweet is now up for auction for $48 million

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Jack Dorsey’s first-ever tweet sold as a non-fungible token (NFT) to the CEO of Malaysian blockchain service Bridge Oracle Sina Estavi at an auction in March 2021 for a sum of around US$2.9 million (around Rs. 22 million). ) has now been listed on NFT marketplace OpenSea for nearly US$48 million (approximately Rs.360 billion) – around 16 times what the owner paid for it over a year ago. Estavi announced the sale via a tweet, further explaining that he intends to donate half of the proceeds from the auction to charity.

According to Estavi’s listing of Dorsey’s tweet on OpenSea, the NFT is for sale for 14,969 ETH. Estavi claims that 50 percent of the revenue – which Estavi claims is in the region of “US$25 million (roughly Rs. 1.88 billion) or more” – goes to a US-based charitable foundation called GiveDirectly, which aims to alleviate extreme ownership through direct cash transfers in Kenya, Uganda and Rwanda.

Dorsey responded to Estavi’s tweet by asking, “Why not 99 percent of it?”, referring to the amount Estavi has set aside for charity while directing his response to GiveDirectly and Tesla founder Elon Musk, who recently responded to the Twitter joined the board.

In response to Dorsey’s tweet, Estavi said: “I don’t want the rest for myself; I would rather use the rest to support blockchain projects (Bridge Oracle) and help my people but your suggestion is valuable to me I would donate 100 percent of it to charity if you let me know.”

Meanwhile, the platform, which sold Dorsey’s NFT’s first tweet for $2.9 million (around Rs. 22 million), halted transactions on Feb. 6 because people were selling tokens with content they didn’t like belonged, said its founder, calling this a “foundation.” problem” in the fast-growing digital asset market.

Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended to and does not constitute financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment made on an accepted recommendation, forecast or other information contained in this article.


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