$48M Jack Dorsey Tweet NFT Sees Top Bid Of Just Under $280

Last week, the world’s first-ever tweet NFT was re-listed for sale at $48 million. The auction ended on Wednesday with a top offer of just under $280.

What Happened: Cryptocurrency entrepreneur Sina Estavi had bought former Twitter Inc TWTR CEO Jack Dorsey's first-ever tweet NFT last year for 16,380.58 Ethereum ETH/USD, or $2.9 million at the time. 

According to a report from CoinDesk, Estavi’s resale auction closed with only seven total offers which ranged from $0.0019 ETH worth $6 to 0.09 ETH worth around $277.

Data from OpenSea shows that higher bids have since been placed on Dorsey’s tweet NFT. At the time of writing, the highest offer was 2 ETH or $6,247.

Why It Matters: Last week, Estavi said he would be putting up the NFT for sale at $48 million, pledging to donate half the proceeds, or around $25 million, to charity.

Dorsey, who had donated all the proceeds from his original sale to the Give Directly charity, had asked Estavi why he did not consider giving away 99% of his proceeds.

“The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it,” Estavi said to CoinDesk in a WhatsApp message on Wednesday.

Estavi is the founder of the now-defunct crypto exchange CryptoLand and the Bridge Oracle project. Both his ventures collapsed after he was arrested in Iran in May 2021 for charges related to disrupting the economic system.

Price Action: According to data from Benzinga Pro, ETH was trading at $3,127, up 2.34% in the last 24 hours.

Photo courtesy: Andrew Mager on Wikimedia