Dorsey's 1st tweet NFT now has a paltry price of less that $2K

NEW DELHI: The very first tweet of Jack Dorsey, whose non-fungible token (NFT) was sold for a whopping $2.9 million in 2021, now has a paltry price of less than $2,000.

Iranian-born crypto entrepreneur Sina Estavi bought Twitter founder Dorsey's first-ever tweet that read "Just setting up my twttr" as an NFT for $2.9 million.

He listed the NFT for sale again at $48 million in April 2022.

"I decided to sell this NFT (the world's first ever tweet) and donate 50 per cent of the proceeds ($25 million or more) to the charity," he had posted on Twitter.

However, the auction closed, with just seven total offers ranging from 0.09 ETH ($277) to 0.0019 ETH (almost $6).

At the moment, the best price for Dorsey's first tweet NFT is just under $2,000, though its owner has said he is not going to sell this NFT.

Estavi's crypto ventures Bridge Oracle and CryptoLand collapsed following his arrest in Iran in 2021.

Dorsey put the tweet up for digital auction as an NFT, a digital good that lives on the Ethereum blockchain, on March 5, 2021.

The tweet was first posted by Dorsey on March 21, 2006.

Bids were handled on a platform called Valuables by Cent that lets people make offers on tweets that are "autographed by their original creators."

Dorsey had said all proceeds from his NFT sale would be converted to bitcoin and donated to GiveDirectly, a charity giving cash to people living in poverty.