The NFT of the first tweet is getting worse and worse: the highest bid is $ 23

It was bought for $ 2.9 million in 2021. The NFT from the first tweet went back on sale in April 2022, with little success. A few months after the start of the auction, the highest bid recorded a derisory price.

Remember the story of the tweet from Twitter creator Jack Dorsey that the entrepreneur put up for sale as an NFT in March 2021? If so, you will probably remember the fact that it sold for $ 2.9 million to Sina Estavi, a cryptocurrency entrepreneur.

In April 2022, just a year after its purchase, the latter put the tweet back on sale, this time for $ 48 million (but still promising that half of the proceeds would go to charity). Alone, here it is: the sale hadn’t quite worked out and the highest offer Sina Estavi had received was $ 3,000.

Has the contractor turned down the offers? have they expired? Numerama again went for a walk on the side of the Open Sea page of the tweet, this June 20, 2022. And the result is even more depressing than before: the currently highest bid is 0.02 ETH, or … $ 22.58.

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Difficult, really // Source: Numerama / OpenSea screenshot

An important story for NFTs

The fate of this tweet might seem anecdotal, but it does have its place in the history of NFTs. Its sale had aroused great curiosity for the non-fungible tokens. It was also on this occasion that Numerama wrote his first article on the subject. The title, ” what are NFTs and why buy a $ 2.5 million tweet? it was unequivocal.

Since then, the editors of Numerama have written dozens of articles on NFTs, which have become real social phenomena. The pieces of some collections, such as those of the Bored Apes Yacht Club or the Cryptopunks, have brought in hundreds of thousands of dollars and a work by artist Beeple has even been sold for 69 million dollars. Entire fairs dedicated to NFTs have been organized and new projects concerning them are set up almost every day.

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Bored Ape Yacht Club NFTs // Source: Bored Ape Yacht Club

But clearly, for Sina Estavi, the situation is not good at all. The entrepreneur, who at the time of the sale said he believed the tweet “ a piece of human history, in digital form He is now guaranteed to lose his entire bet. He compared the tweet to a digital Mona Lisa and explained that he was confident in his investment. ” Who knows how much this tweet will be worth in 50 years? He asked himself in front of the BBC.

Today the irony of the situation is palpable and makes you smile: the NFT that Numerama made in 2021 actually sold for more than what was offered today for Jack Dorsey’s tweet: it went for 0.021 ETH, or $ 23.74.

Could the tide turn for NFTs? Although it is still early to bury them, some very audible voices are starting to rise. The last to speak is far from unknown: Bill Gates claimed on June 16 that NFTs were, in his opinion, a ” asset class that exists under the principle of the greatest fool theory “, what does it mean ” someone will pay more money [pour cet actif] that I spent to acquire it. ” I have nothing to do with this “, He concluded.

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