The owner of Twitter founder Jack Dorsey’s initial tweet decided to sell the rights of his NFT. Unfortunately for him, not many were interested in buying it.
Usually, the stories based on non-fungible tokens are surrounded by success and incredibly high amounts which are difficult to believe, such as the Bored Ape Yacht Club NFTs which started off at a price little over $200 and can now be sold for over $300,000.
However, this market is still highly volatile and there could be no better example than the story of Twitter user Estavi.
Estavi was one of the first people to invest heavily in this new field, buying out the rights of Twitter founder Jack Dorsey’s first tweet, which was also the first tweet to ever appear on the platform.
The investment set him back about US$3 million ($4 million), but considering the context, Estavi considered the amount of the NFT would eventually multiply.
However, that didn’t appear to be the case. Last Wednesday, the Twitter user put his glamorous NFT up for a seven-day online auction, promising to give half of the amount towards charity. Estavi estimated that he would be getting at least US$50 million for the first-ever tweet.
But the offers he’s been receiving have been nowhere close to that, with the highest amount reaching just US$280. Since then, the owner of the NFT has decided that he’d be open to accepting offers from other sources besides the official auction that he himself announced, which helped raise the price of the NFT, although not by much (just over US$4,600 was the latest recorded offer.)
Estavi now says that if he cannot find an offer that’s good enough, he might just end up holding on to the NFT, proving that this is definitely a market that can’t really be depended on.
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