Jack Dorsey’s First-Tweet NFT, Listed at $48 Million, Has Lost 99% Of Its Value
<p>When crypto entrepreneur Sina Estavi purchased the<a href="https://www.cnbc.com/2021/03/22/jack-dorsey-sells-his-first-tweet-ever-as-an-nft-for-over-2point9-million.html" rel="noopener ugc nofollow" target="_blank"> NFT of Twitter’s co-founder Jack Dorsey’s first-ever tweet</a> back in March 2021 for a staggering $2.9 <em>million, </em>the world was divided into two groups.</p>
<p>Some pointed to the sale as proof of both the NFT concept and the wider demand. Others couldn’t help but be completely baffled at the absurdity of all of it. I fall into the latter, struggling to process the fact that someone spent $2.9 <em>million</em> on a digital certificate that serves as proof of ownership for a tokenized version of a tweet that says “ just setting up my twttr,” while the tweet itself still lives on Twitter, and the owner of said tweet could delete it, or make further NFTs of it.</p>
<p>Still, the pointlessness of it didn’t appear to bother Estavi. Shortly after winning the auction, he did little to play down his bullishness for the future of the NFT. <a href="https://twitter.com/sinaEstavi/status/1374063984396136450?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1374063984396136450%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2021-03-23%2Fblockchain-ceo-shells-out-millions-for-jack-dorsey-s-first-tweet" rel="noopener ugc nofollow" target="_blank">In an entirely-serious tweet, he wrote</a>, “I think years later people will realize the true value of this tweet, like the Mona Lisa painting.”</p>
<p>Well, just one year later, a different reality has set in.</p>
<p><a href="https://stephenmoore.medium.com/jack-dorseys-first-tweet-nft-listed-at-48-million-has-lost-99-of-its-value-e261c214e997"><strong>Learn More</strong></a></p>