The nonfungible token (NFT) of the first ever tweet made on Twitter by founder Jack Dorsey is currently struggling to attract a bid even 1% of its sale price last year.
The iconic “genesis tweet” was sold for 1,630 Ether (ETH) valued at $2.9 million about a year ago on March 22, 2021. The highest current bid for this attempt to auction it is 10.3 ETH worth about $31,739 on NFT marketplace OpenSea.
The nonfungible token (NFT) of the first ever tweet made on Twitter by founder Jack Dorsey is currently struggling to attract a bid even 1% of its auction price last year.
The genesis tweet made on Twitter by founder Jack Dorsey.
Its owner, Bridge Oracle founder Sina Estavi hoped the tweet would generate at least $50 million dollars, half of which he said he would donate to charity after closing the auction in an April 7 tweet.
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 (@sinaEstavi) April 6, 2022
Estavi appears to have grossly overestimated the amount of money the tweet would sell for. When he initially listed the item on OpenSea, the highest bid was valued at about $277. Currently, the average bid is for about $8,731.
Low interest in this piece of social media history may be a symptom of a general decline in frothiness across the crypto industry. Although NFT trading volumes have been rising over the past month, they are still far from all-time highs. Volumes on Bitcoin (BTC), ETH, and on decentralized exchanges (DEX) have also been dropping off.
Using NFT art to support Ukrainian refugees
Four Ukrainian artists living in Sydney are using the popularity of digital art in NFT form to generate funds to aid over five million refugees from the embattled nation.
The OpenYourHeart campaign hopes to collect at least $5 million from the sale of four limited-edition NFTs and from ETH donations to Habitat for Humanity, a house-building charitable…