Jack Dorsey’s First Tweet NFT Drops in Value to $280 From Original Price of $2.9 Million
Twitter founder Jack Dorsey’s first-ever tweet was sold as a non-fungible token (NFT) for $2.9 million (roughly Rs. 22 crore) in 2015. In a fresh upgrade, the exact same NFT gathered the greatest quote at a shockingly small quantity of $280 (roughly Rs. 21,000) earlier this week after its holder Sina Estavi noted it for a re-sale. The incident has sent shockwaves amongst members of the NFT community. NFTs are digital collectibles constructed and supported on the blockchain. The values of NFTs can differ according to the inspiration it is stemmed from, which might be a game character, music, films, actors, and artists among others.Estavi, who last bought the tweet NFT in March 2021, listed it for re-sale for$48 million(roughly Rs. 365 crore)last week on OpenSea NFT marketplace.The Iran-born crypto business owner had likewise pledged 50 percent of the proceeds he made via re-selling Dorsey’s tweet NFT to a charity called Offer Directly.To Estavi’s utter scary, his priced NFT saw only seven bidders lining up, out of which, the highest bidder purchased it for$280(roughly Rs. 21,000). The least expensive bidding was taped at ETH 0.0019(roughly Rs. 448). The incident has raised concerns around the legibility of NFTs as a property class.Sina Estavi bought Twitter founder Jack Dorsey’s very first tweet as an NFT for$2.9 million last year.He noted the NFT for sale again at$48 million.It ended with a leading quote of just$280: cold_face: Are NFTs smoke and mirrors or a financial investment?: man-shrugging: https://t.co/dNfwTbK7Ci!.?.!— Nigel D’Souza(@Nigel__DSouza )April 14, 2022 #JackDorsey @jack’s first #tweet was offered as an
#NFT for$2.9 M in 2021. Now the leading bid for it is just$280: thinking_face:.
If you remain in the marketplace just for the fast money, there’s a high possibility that you’ll end up losing: sweat:.
: mag_right: Doing your own research before blindly taking actions! pic.twitter.com/khKYniTL43!.?.!— AAX( @AAXExchange)April 14, 2022 While the due date of this NFT auction passed without Estavi getting a possibility to rope in any funds via its sale.”The due date I set was over, but if I get an excellent offer, I might accept it, I might never ever offer it,”CoinDesk estimated Estavi as saying.At this point, Estavi’s credibility in the crypto market is quite stained after 2 failed cryptocurrency
endeavors and nine months in prison.The ‘cryptopreneur’was jailed in May 2021 in Iran, on charges of”interfering with the financial system”. Estavi’s CryptoLand exchange collapsed, leaving users unable to access their funds. In addition, the rate of his&Bridge Oracle task’s BRG token also sunk to its present rate of $0.06031 (approximately Rs. 4.5 ), based on CoinMarketCap. This backdrop is being counted amongst reasons that his potential huge sale failed to prosper amongst investors.Affiliate links may be instantly produced-see our principles statement for details.Published at Thu, 14 Apr 2022 11:06:02 +0000