The NFT sale of the first tweet in history turns into a fiasco

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One entrepreneur hoped to make nearly $48 million from this NFT. Problem, the bids do not exceed 5,000 euros, says Numerama.

The NFT sale of the first tweet in history turns into a fiasco

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It's a sale that was to prove juicy and which finally flopped. This Thursday, April 14, entrepreneur Sina Estavi relisted an NFT of the first tweet ever posted, which he had previously purchased for the tidy sum of $2.9 million. For this historic non-fungible token (NFT), a certificate of ownership of a virtual and digital object, he hoped to earn no less than 48 million dollars, reports the specialized site Numerama.

Problem: Buyers aren't rushing to the gate to acquire this little piece of internet history. In one week of auction, only about twenty offers were submitted to Sina Estavi, and for amounts very much lower than the capital gain originally envisaged. The first bid was only $280, a far cry from the expected $48 million.

Weak Bids

Finally, after a week, bidding painfully reached 2 ethers (a cryptocurrency), or about $6,000 (5,000 euros). This sum represents 0.2% of the amount that Sina Estavi paid to buy this NFT of the tweet from Jack Dorsey, the founder of the firm with the blue bird, calculate our colleagues from Numerama. However, the owner of this digital object had announced his desire that he would donate 50% of the winnings, which he then estimated at around $25 million, to charities. Jack Dorsey had then proposed, in an acid way, to increase this percentage to 99%.

Jack Dorsey's First Tweet NFT

March 2021: Bought for $2.9 million

April 2022: Re-listed for Sale at $48 million

Today: Current Best Offer – $6,222.36https://t.co/P0u3l83hto pic.twitter.com/7X3Rq8kBvu

— Matt Navarra (@MattNavarra) April 14, 2022