in one year, the NFT value of the very first tweet plummeted

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

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

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

Seller hopes to get 49 million.

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

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… and called Elon Musk

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

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In the face of this situation, some internet users are humorous. “Maybe Elon will buy it“For example, Matt Navarra, an analyst specializing in social networking, tweeted referring to the offer from Elon Musk, Tesla’s boss, to buy Twitter. Sina Estavi thus took the opportunity to call from foot to foot. Entrepreneur, with this message: “It’s a shame if the owner of Twitter does not own the first tweet.”

NFT, a market that exploded in 2021

“NFT”, for non-fungible token or non-fungible token, is a digital format that allows you to associate with any virtual object, whether it is an image, photo, animation, video or piece of music, a certificate of authenticity registered on 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’m creating my Twitter account“(” just setting up my twttr “) by Jack Dorsey, for nearly $ 3 million had attracted attention. Above all, sales for $ 69.3 million at Christie’s of a digital work by the American artist Beeple, entitled “Everydays: The First 5000 Days”, hit the headlines.

But the excitement seems to have subsided a bit this year. Industrial observers are divided between fans and skeptics. In addition, a user wanted to send a message to Sina Estavi, the current owner of NFT of the first tweet. “Dude, you do not own the very first tweet. You have a blockchain certificate that says you have a screenshot of the very first tweet. “

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