NFT of the very first tweet a misfire in an online auction

NFTs – like this one, from Raphael’s painting ‘Madonna del Cardellino’ (‘Madonna of the Goldfinch’) – are all the rage, but the failed auction of the very first tweet could signal that the trend is slipping.

An NFT of the first tweet ever posted on Twitter was struggling to attract bidders on Thursday, with the highest bid yet just under $10,000, a year after it was bought for $2.9 million.

In what could signal waning interest in non-fungible tokens (NFTs) being peddled by athletes, artists, celebrities and tech stars, the famous inaugural Twitter post penned by co-founder Jack Dorsey seemed to point to an epic failure.

He spent over a week on the auction block on the OpenSea NFT marketplace. The best deal was in the Ether cryptocurrency, with its current value translating to just under $10,000, according to the website.

The first historic tweet from @Jack’s account reads “just setting up my twttr”.

Malaysia-based entrepreneur Sina Estavi bought the tweet as an authenticated virtual object known as an NFT for $2.9 million early last year, but put it up for auction last year. last week in hopes of raising around $48 million and donating some of the money to charity. .

Dorsey originally sold his tweet as an NFT in Ether.

The Blockchain technology used in making the tokens allows people to own virtual items with demonstrable authenticity.

Estavi is an early player in the NFT market and is the Managing Director of the Bridge Oracle blockchain platform.

The NFT trend includes a digital work by American artist Beeple that sold for $69.3 million at a Christie’s auction.

First tweet fetches $2.9 million at auction

© 2022 AFP

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