A non-fungible token Before (NFT) Twitter Very few people are watching CEO Jack Dorsey’s first tweet. The NFT of Dorsey’s first tweet ‘Just setting up my Twitter’, which sold for USD 2.9 million (over Rs 20 crore) last year, is slated for resell And the response is so slow that it has received only USD 6,800 (about Rs 5.2 lakh) as the highest bid ever.
The seller, crypto entrepreneur Sina Estavi, sought USD 48 million for NFTs. The auction, which ends in a day, saw bids ranging from just 0.0019 ETH to 2.2 ETH, or around USD 6 to around USD 6,800. In March 2021, Estavi paid USD 2.9 million for the NFTs of Dorsey’s first tweet.
A non-fungible token (NFT) is a non-exchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. All types of digital objects – pictures, videos, music, text and even tweets – can be converted to NFT. Digital art has seen some high-profile sales, while in sports, fans can collect and trade NFTs belonging to a particular player or team.
“My offer to sell was overpriced and not everyone could afford it,” Reuters said in a report quoting Estavi. Don’t sell this NFT to anyone because I don’t think everyone is entitled to this NFT.”
Estavi compared the NFT to the Mona Lisa painting. “This NFT is not just a tweet, it is the monalisa of the digital world.”
Matt Navarra, a social media consultant and industry analyst, said, “Jack Dorsey’s first tweet NFT: March 2021 – Bought for USD 2.9 million. April 2022 – Re-listed for sale for USD 48 million. Today, current best offer – USD 6,222.36.”
Dorsey had converted the entire amount from the sale of his NFTs into bitcoin and donated it to GiveDirectly, a charitable organization for the Africa Response Program.
On 7 April, Estavi said in a tweet, “I decided to sell this NFT (the world’s first tweet) and donate 50 percent of the proceeds (US$25 million or more) to charity @GiveDirectly.”
“Last year, when I paid for this NFT, very few people even heard the name NFT. Now I say this NFT is the monalisa of the digital world. There is only one of them and it is never the same. Will be,” the BBC quoted Estavi as saying in its report.
Dorsey’s brief tweet was sold in March 2022 at an auction on an online platform called Valuables, to Estavi, which is owned by US-based company Cent.
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