The 2006 tweet by Twitter founder Jack Dorsey was bought in March 2021 for $2.9 million (Matt Crossick/PA)
(Picture: PA Archive)An auction to sell the world’s first ever tweet suggests the NFT boom may be over.
Crypto entrepreneur Sina Estavi bought a 2006 tweet by Twitter founder Jack Dorsey in March 2021 for $2.9 million. He is now auctioning it but the biggest offer so far is a paltry $6,849. The highest offer by the time a deadline set by Estavi was reached was just $277.
The NFT market exploded in popularity in 2021, with users sending at least $44 billion (£34 billion) worth of cryptocurrency as part of contracts related to NFT marketplaces, according to blockchain data platform Chainalysis.
The most expensive single transaction was a CryptoPunk NFT which sold for $532 million in November 2021.
However, interest in the digital assets seem to have dwindled in recent months. Online searches for the term ‘NFT’ have more than halved since January, data from Google Trends suggests.
Estavi has promised to donate 50% of the tweet NFT auction’s proceeds to charity. In a reply on Twitter, Dorsey asked: “Why not 99% of it?”
Estavi responded: “I don’t want the rest for myself; I’d prefer to use the rest to support blockchain projects.”
Sina Estavi is CEO of software business Bridge Oracle.
