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A non-fungible token (NFT) of former Twitter CEO Jack Dorsey’s first tweet that went up for auction last week failed to excite potential buyers after the seller expected to make millions and give some to charity.
An auction for the NFT, which was purchased last year for $2.9 million by Iranian-born crypto entrepreneur Sina Estavi, ended with a total of seven offers ranging from 0.09 Ethereum ($277 at current pricing) to 0.0019 Ethereum (nearly $6), according to CoinDesk.
Jack Dorsey, co-founder and former CEO of Twitter Inc., during the Bitcoin 2021 conference in Miami June 4, 2021. (Eva Marie Uzcategui/Bloomberg / Getty Images)
WHAT IS METAVERSE AND WHY NFTS ARE KEY TO ITS MASSIVE EXPLOSION
An NFT is a digital certificate of authenticity that confirms an item, such as a work of art or collectible, is real and one of a kind by recording the details on a blockchain digital ledger.
Last week, Estavi announced on Twitter that he planned to sell the NFT and provide half of the earnings to charity. The NFT was subsequently put up for auction for $48 million.
“I decided to sell this NFT ( the world’s first ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity @GiveDirectly,” Estavi wrote.
“The deadline I set was over, but if I get a good offer, I might accept it. I might never sell it,” Estavi told CoinDesk Wednesday.
Estavi now has two days to accept the bid or it will expire.
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Jack Dorsey attends a cocktail party hosted by Chrome Hearts X Jordan Barrett at La Maison Du Caviar June 22, 2019 in Paris. (Victor Boyko/Getty Images for Chrome Hearts)
The NFT of the March 2006 tweet, which states, “just setting up my twttr,” was originally sold last year by Dorsey for more than $2.9 million, and proceeds were given to the nonprofit GiveDirectly’s Africa Response.
The Associated Press contributed to this article.