NFT worthless: Price of the first tweet in history plummets after costing US $ 2.9 million

The NFT of Jack Dorsey’s first tweet on Twitter fell from its initial valuation of $48 million.


The NFT market continues to deflate and, with this, alienating investors from the “crypto art boom”.

After the drop in the value of complete collections on OpenSea , in addition to the obvious copyright problems in some works, the resale of these digital assets is at its worst.

Jack Dorsey’s first tweet on Twitter, estimated to be worth $48 million on the market, received a buyout offer of just $280.

According to Sina Estavi, a “crypto businessman” of Iranian origin, he obtained the first Dorsey tweet in NFT format on March 22, 2021 for 2.9 million dollars, a figure framed in the sudden growth in artistic pieces certified by blockchain.

After a year, Estavi decides to sell this digital piece on the market at an estimated value of 48 million dollars in Ethereum. In a tweet, the businessman remarked that he would allocate half of the estimated profits – about 25 million dollars – to a charity:

The sale, available through the OpenSea portal, did not materialize due to the absence of bidders. In total, seven bids were received ranging from $6.19 to $6,193.

“The deadline I set was over, but if I get a good offer, I might take it, maybe I’ll never sell it,” Estavi told CoinDesk .

Crypto scam concern

Estavi was directly related to the fall of his cryptocurrencies Bridge Oracle and CryptoLand in 2021, after being arrested in Iran along with executives of his company.

According to the statement by the Cyber ​​Organized Crime Research Center in Iran, the BRG project – Bridge Oracle cryptocurrencies – was “illegal, unreliable and unsupported”, noting that users in the country could fall for fraudulent activities associated with cryptocurrencies “due to a lack of financial education and investment knowledge in cyberspace.”

Estavi mentioned that the NFT with Jack Dorsey’s tweet will not be sold at the moment. “Last year when I paid for this NFT, very few people heard the name NFT. Now I say this NFT is the Mona Lisa of the digital world. There is only one of it and it will never be the same,” he told the BBC.

“In a few years, people will realize the value of this NFT. Remember it, ” Estavi added.