Jack Dorsey's first NFT tweet has gone down in price more than 60,000 times and is now worth less than $48

In 2021, the first Twitter entry as an NFT was sold for nearly $3 million. It's now worth about 60,000 times that price.

Here's What We Know

Jack Dorsey, the creator of the popular social network, made a publication with the text "just setting up my twttr" on 21 March 2006. After about 15 years, this tweet in the form of a non-replaceable token was sold.

The buyer was Sina Estavi, the founder of Bridge Oracle. He agreed to pay $2.9 million for a screenshot of the publication in the form of an NFT. The purpose of the purchase was to resell the token, but something went wrong.

Sina Estavi tried to sell NFT for $48.9 million and promised to spend half of this amount on charity. The businessman was ready to invest the other 50 per cent in blockchain projects. Despite good intentions, no one agreed to pay almost $50 million for the scrip.

In the end, the Bridge Oracle founder could not even recover the $2.9 million he spent. Now the value of NFT is less than $48.

Source: OpenSea