NFT of the first Twitter tweet massively loses value
The hype seems unbroken. NFTs are popping up like never before and many companies have their own NFT programs in the works. But are today’s adopters already too late? Many NFTs from the very beginning have in the meantime lost a lot of their value.
Crypto News: NFT of the first Twitter tweet massively loses value
Not long ago, an NFT of the world’s first Twitter tweet sold for $2.9 million. The tweet itself was published by Twitter CEO Jack Dorsey in 2006 and is therefore a historical document. In 2021, an NFT of this tweet was created, which went over the table for 2.9 million US dollars.
Now the buyer, Sina Estavi (CEO of a Malaysian tech company), has tried to auction the NFT. He wanted to donate half of the money he got to charity – he hoped to raise around 50 million from the auction and promised to donate 25 million of that.
But the bids were sobering: At the end of the offer period, the highest bid was just $277. There were only 7 bids in total, ranging from $6 to $277. Estavi decided to keep the NFT, probably in the hope that the market will turn positive for him in the future.
But is this likely? Or are we just seeing the NFT bubble burst?