From 2.9 million to 12,000 dollars: in one year, the NFT value of the very first tweet plummeted

A year ago, the NFT of the world’s first ever Twitter post was sold for $2.9 million to a businessman. In April, the latter announced that he wanted to resell it. Problem, until now, the offers do not exceed 12,000 dollars.

Illustrative photo of the logo for Twitter, co-founded by Jack Dorsey. © AFP / Lionel BONAVENTURE

This is further proof of the extreme volatility of the market. The NFT value of Jack Dorsey’s first tweet, the co-founder of Twitter, plummeted. The NFT in this landmark post, from 2006, may be selling for only a fraction of its price a year ago.

The seller hopes to get 49 million…

The businessman who had bought this certificate of authenticity for 2.9 million dollars in March 2021, put it back on sale in April, hoping to make 49 million. “I’ve decided to sell this NFT (The World’s First Tweet) and donate 50% of the proceeds ($25 million or more) to the charity GiveDirectly“, wrote, on April 6, Sina Estavi, general manager of the Bridge Oracle blockchain platform, located in Malaysia. However, we are very far from it for the moment. This Friday, the best offer was $12,000.

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…and made a foot call to Elon Musk

Despite the so far poor offers on the OpenSea sales platform, Sina Estavi is optimistic and recalls that the auction a year ago also started with offers of a few hundred or thousand dollars. The businessman thus posted on Twitter a screenshot of offers dating from December 2020, with the very first proposals.

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Manage my choices

In front of this situation, some Internet users are humorous. “Maybe Elon will buy it“, for example, tweeted Matt Navarra, an analyst specializing in social networks, in reference to the offer of Elon Musk, the boss of Tesla, to buy Twitter. Sina Estavi thus took the opportunity to make a call from foot to foot. entrepreneur, with this message: “It’s a shame if the owner of Twitter doesn’t own the first tweet.”

NFT, a market that exploded in 2021

The “NFT”, for non-fungible token or non-fungible token, is a digital format which makes it possible to associate with any virtual object, whether it is an image, photo, animation, video, or piece of music , a certificate of authenticity recorded on the blockchain, the technology that serves as the basis for cryptocurrencies like bitcoin.

The NFT market exploded in 2021. The redemption of the authenticated image of the message “I create my Twitter account“(“just setting up my twttr”) by Jack Dorsey, for nearly 3 million dollars had caused a stir. Above all, the sale for $69.3 million at Christie’s of a digital work by American artist Beeple, entitled “Everydays: The First 5000 Days”, hit the headlines.

But the enthusiasm seems to have died down a bit this year. Industry watchers are divided between fans and skeptics. Moreover, a user wanted to send a message to Sina Estavi, the current owner of the NFT of the first tweet. “Dude, you don’t own the very first tweet. You have a certificate on the blockchain that says you have a screenshot of the very first tweet.”

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From 2.9 million to 12,000 dollars: in one year, the NFT value of the very first tweet plummeted


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