An NFT of Jack Dorsey’s first-ever tweet, which sold for $2.9M last year, was auctioned again for only $280

As you may recall, a little over a year ago we wrote about Jack Dorsey’s first-ever tweet after he listed it on an auction as a non-fungible token (NFT). The NFT was bought by Iranian-born crypto entrepreneur Sina Estavi for $2.9 million in March 2021. It appears that Estavi now has buyer’s remorse.

Last Thursday, Estavi announced on Twitter that he was selling the NFT. Hoping to net $50 million, he pledged to donate 50 percent of the proceeds to charity. In a tweet, Estavi said:

“I decided to sell this NFT ( the world’s first-ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity @GiveDirectly.”

https://twitter.com/sinaEstavi/status/1511832413973983239

Unfortunately, the $2.9 million NFT failed to garner a bid of $300 at the OpenSea auction. According to CoinDesk, the auction closed today Wednesday with just seven total offers ranging from 0.09 ETH ($$279.56 at current prices) to 0.0019 ETH (almost $6).

In a WhatsApp message on Wednesday, Estavi told CoinDesk:

“The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it,” Estavi told CoinDesk via a WhatsApp message on Wednesday.

As of the time of writing, the auction has received a new offer of $528.07. Estavi has two days to accept the bid, or just let the offer expire. What Estavi would do is anyone’s guess.

Below is Dorsey’s first tweet posted on March 21, 2006. The tweet comes with an autographed digital certificate and signed using cryptography with metadata from the original tweet.

“The tweet itself will continue to live on Twitter. What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator,” Dorsey said.

What does this mean for the future of NFTs? No one knows for sure. Deep pocket investors continue to pour billions into the space hoping this is going to be the next digital gold rush.