Jack Dorsey’s first tweet NFT caused a huge stir when it sold as an NFT for $2.9 million. Today, it is worth a mere $3.77. Let’s take a closer look at what happened.
- Jack Dorsey’s first tweet NFT journey has been a rollercoaster, with an initial whopping value of $2.9 million, tied to its uniqueness and Twitter’s association.
- Fast forward to today, the NFT’s value has plummeted to a mere $3.77, leaving everyone astonished at the drastic decline.
- Despite efforts to resell for $48 million and a charitable motive, the bids were disappointingly low, reflecting the challenging times for NFTs amid a broader crypto market downturn.
Jack Dorsey’s First Tweet NFT Plummets in Value
It’s been a rollercoaster ride for Jack Dorsey’s first tweet NFT! Back in 2021, crypto entrepreneur Sina Estavi made headlines when he snagged the historic tweet as an NFT for a whopping $2.9 million. Fast forward two years later, and things have changed. The same NFT, which was once valued so highly, is now facing a rough time. The best offer on the table currently sits at a mere $3.77.
Despite his best efforts to resell the NFT since 2022, Estavi’s dreams of making a charitable contribution were dashed. He listed the digital asset for $48 million, with the intention of donating half to charity. The bids could have been much higher, ranging from $280 to the highest offer of $6,800.
Amidst the market downturn in the crypto world, the NFT sector has also taken a hit. The value and activity of digital assets have seen a significant decline, and some big names like Bored Apes and CryptoPunks have suffered more than a 70% drop in their floor prices since their peak levels.
It’s a wild ride in the world of NFTs, and as the market continues to evolve, who knows where it’ll take us next? Only time will tell. But for now, Jack Dorsey’s first tweet NFT has undoubtedly experienced its share of ups and downs.