In the month of March this year, Iranian-born digital asset entrepreneur Sina Estiva bought an NFT of Twitter founder Jack Dorsey’s 1st ever tweet for a colossal 2.9 million dollars (1630.6 ETH). Recently, the tweet could sell for just under ninety seven dollars.
The so-called genesis tweet that reads “just setting up my twttr” was initially sold to Estavi by Dorsey in an auction subsequent to beating Tron’s founder Justin Sun’s bid of two million dollars for the piece. After the purchase, Estavi declared on Twitter that he planned on selling it and pledged to give half of its proceeds (approximately twenty five million dollars) to charity.
Nonetheless, as fate would have it, the price of the NFT flopped miserably. At the close of the 1st auction in early April, the non fungible token managed to fetch only 7 offerings with the highest bid at 0.09 ETH which was around 277 USD at the time. Apart from that, with the rout in the digital asset market taking a toll on NFTs, Estavi’s piece continued to be bumped up by nominal bids. As of 16th September, it had only managed to attract a top bid of 0.075 ETH (around 96.49 USD)
Given that the majority of NFTs drew their high price tags due to hype, it will be arduous to forecast whether they will reclaim their bygone glory or sell at such high prices ever again.
This article originally appeared on the front page of Live Bitcoin News on June 2nd 2023. Have you ever wondered what it’s […]
June 12, 2023
Our roving crypto documentary The Future is Now travels to Malta for the 3rd time! Episode 10 “The Rise of The New […]
March 7, 2020
Due to the huge bets from investors on the newly launched meme token, Elon Mars X’s price soared over 47% in the […]
February 21, 2024
A serial entrepreneur from Austria has acquired the rights to LimeWire. This defunct music platform was notorious for its association with illegal […]
February 21, 2024