A non-fungible token (NFT) of Twitter founder Jack Dorsey’s 1st tweet might sell for slightly under $280. The current owner of the NFT advertised it for $48 million last week. Mr. Dorsey’s first-ever tweet on May 21, 2006, stated “just putting up my Twitter” and crypto businessman Sina Estavi acquired it for $2.9 million. He had listed the NFT and agreed to give half of the sum to charity.
In a recent Twitter message, Mr. Sina Estavi wrote, “I chose to sell this NFT (the world’s first-ever tweet) and contribute 50 percent of the revenues ($25 million or maybe more) to the charity @ GiveDirectly.”
The auction finished only with seven total bids, spanning between 0.09 ETH ($277 at the present rate) to 0.0019 ETH (nearly $6). The entrepreneur gets 2 days to approve the bid, after which it will lapse.
NFTs are digital assets whose possession is recorded on a blockchain. In principle, holding an NFT appears to mean that the owner gets to have and manage the digital asset.
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Mr. Sina Estavi is the creator of two Malaysia-based virtual currency startups. As per Coindesk, Mr. Sina Estavi was imprisoned in Iran in May last year on allegations of “hindering the economic system”. The arrest happened two months after he acquired the NFT of Dorsey’s tweet. Sina Estavi, whose crypto projects Bridge Oracle and CryptoLand collapsed following his detention in Iran, is in the midst of relaunching his Bridge Oracle coins (BRG), which were initially on the Tron blockchain, onto the Binance Smart Chain.
He spent nine months in jail before being freed without explanation. Mr. Sina Estavi’s firm, Cryptoland, one of Iran’s major crypto exchanges, went out of business after the arrest.
BRG investors are looking for Sina Estavi to swap their old tokens for the new ones. Sina Estavi, who declared the token swap on the same day he put up Dorsey’s tweet NFT for sale again, told CoinDesk that the switch is being done manually and that the process may take up to two months to complete.
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