Once sold for over $2M, Jack Dorsey’s first-ever NFT tweet struggles to sell

• NFT Collectors only bid around 0.09 Ether ($277) for Jack Dorsey’s first tweet NFT which was on offer for a limited time.l
• The auction came to an end yesterday with the lowest bid of 0.019 Ether (around $5.8) despite the NFT selling for over $2 million last year.

Last year, Jack Dorsey, the founder of Twitter, auctioned his first-ever tweet as a Non-Fungible Token (NFT). This was purchased by Iranian-born Sina Estavi for $2.9 million. Following the recent boom of the NFT market, the Bridge Oracle CEO put it up for sale, seeking $48 million for it. He earlier announced that he will donate half of the proceeds which he estimated to be at least $25 million to US charity GiveDirectly. Interestingly, the NFT that saw high-profile bids last year is currently struggling to sell.

According to reports, Collectors only bid around 0.09 Ether ($277). The auction came to an end yesterday with the lowest bid of 0.0019 Ether (around $5.8). It is reported that Estavi received several bids after the closure of the auction, and the highest bid currently stands at 2 Ether (around $6167). 

In a statement, he disclosed that he may never sell the NFT unless a good offer comes in. 

Last year, when I paid for this NFT, very few people even heard the name NFT. Now I say this NFT is the Mona Lisa of the digital world. There is only one of that and it will never be the same. Years later, people will realize the value of this NFT. Keep that in mind.

Estavi claims he won’t sell the NFT to “just anyone”

Last year, Estavi won the bid in a tough competition. As the buyer, he received a digitally signed and verified certificate as well as the metadata of the original tweet from Dorsey. This includes the time it was tweeted and the text contents. In an interview, Estavi appeared not disturbed at all and even claimed that he will never accept “just anyone’s” offer despite the current struggle to get a worthy buyer. 

I think the value of this NFT is far greater than you can imagine and whoever wants to buy it must be worthy. I think someone like Elon Musk could deserve this NFT.

Many NFTs have been sold for high prices since getting mainstream. Last year, Beeple sold an NFT for $69 million, and Clock, an NFT created by artist Pak sold for $52 million. 

Estavi is quite popular in the crypto space, known for his establishment of two crypto ventures namely Bridge Oracle and CryptoLand. However, they collapsed after he was arrested in Iran, and served nine months in prison for disrupting the economic system. Bridge Oracle tokens (BRG) were initially launched on the Tron blockchain. This time around, he is relaunching it on the Binance Smart Chain. Estavi plans on involving his old BRG investors in his new project. He has asked them to swap their old tokens for new ones. However, since the process is being handled manually, it may take up to two months to complete.