News By  Elena Savlokhova
Newbie 1545 17 Apr 2022

Jack Dorsey’s First Tweet NFT price to lose $2.9 million in a new auction

By  Elena Savlokhova 1545 17 Apr 2022
Photo - Jack Dorsey’s First Tweet NFT price to lose $2.9 million in a new auction

In March of last year, crypto figure and businessman Sina Estavi bought Jack Dorsey’s First Tweet NFT that reads, “just setting up my twttr” for $2.9 million.

The now 16-year-old tweet was sold via auction on a blockchain social media platform “Valuables”. The buyer, Sina Estavi, is the CEO of Bridge Oracle - a blockchain company.

On April 7th, Estavi posted a tweet where he announced selling the aforementioned NFT on the OpenSea platform with half of the proceeds going to the Give Directly charity. As of now, the highest bid for the NFT is at 6ETH ($18,133.08).

In a commentary for CoinDesk, Estavi said that even if the deadline is over, he might still accept a good offer, yet “might never sell it” all together. Currently, Estavi has 30 days to accept the latest offer until it expires.

Estavi’s crypto projects Bridge Oracle and Cryptoland have faced a downfall since he was detained by the Special Court for Economic Crimes in Iran last year “on charges of disrupting the economic system”, by order of the Special Court for Economic Crimes.”

The crypto entrepreneur is currently working on setting up the Bridge Oracle tokens (BRG) on the Binance Smart Chain. The tokens previously operated on the Tron blockchain. The NFT market has been on the rise in the past few years yet this case proves that there are some limitations and risks related to non-fungible token purchases.