Highest Bid For NFT Of Jack Dorsey's First Tweet Was Just $375 Even Though It Was On Sale For $64 Million

NFT (non-fungible token) of Twitter owner Jack Dorsey's first tweet was put on sale for $64 million. But the auction didn't go as planned because the highest bid was for $375.

CoinCulture

Crypto entrepreneur Sina Estavi brought the Twitter owner's first tweet a year ago and thought it may be perfect to put it on sale. But obviously, it didn't go too well.

The NFT of the tweet from May 21, 2006 read ¡®just setting up my twittr¡¯ and Estavi picked it up for AUD $3.88 million (USD $2.9 million). The man listed it on auction last week for a whopping $64 million (USD $48 million) and was hoping to get at least AUD $67 million (USD $50 million) for it and committed to donating 50 per cent to charity.

On Twitter, he wrote, "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."

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://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0

¡ª Estavi (@sinaEstavi) April 6, 2022

But looks like his GiveDirectly charity will only get AUD $185 (USD $140) as the highest bid came in at just under AUD $375 (USD $280). The auction closed on Wednesday (April 13), with seven offers in total ranging from 0.09 ETH (Ethereum) to 0.0019 ETH, which is well below Estavi¡¯s evaluation of more than 15,987 ETH.

Estavi has two days to accept this bid or it will expire.

He told CoinDesk: ¡°The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it.¡±

If Estavi was to, hypothetically speaking, accept the offer, he would be looking at a loss of more than 99.99 per cent of the NFT¡¯s original purchase price.

People are¡­ claiming to ¡°own¡±¡­ tweets made by other people, because a particular NFT exchange says they do¡­ and then they sell them for $50m¡­ am I speaking accurately? https://t.co/RUa22Hif1U

¡ª Konstantin Boristovich (Rune Arc) ?? (@HardSciFiMovies) April 7, 2022

Estavi was arrested in Iran last year after which his crypto ventures Bridge Oracle and CryptoLand collapsed. He is now in the middle of relaunching his Bridge Oracle tokens (BRG), which were originally on the Tron blockchain, to the Binance Smart Chain.

Estavi is supposed to exchange his old tokens for new ones and BRG investors are waiting for it. Estavi, who announced the token swap on the same day he put up Dorsey¡¯s tweet NFT for sale again, told CoinDesk that the swap is being run manually and the process may take up to two months to complete.

Quotes from CoinDesk

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