NFT of Twitter Co-Founder Jack Dorsey’s First Tweet Now Being Auctioned for $48 Million

Jack Dorsey’s first-ever tweet, that was sold as a non-fungible token (NFT) to the CEO of Malaysian blockchain service Bridge Oracle Sina Estavi at an auction back in March 2021 for a sum of around $2.9 million (roughly Rs. 22 crore), has now been offered for almost $48 million (roughly Rs. 360 crore) on NFT marketplace OpenSea — roughly 16 times of what the owner paid for it over a year back. Announcing the sale via a tweet, Estavi went on to state that he intends to direct half of the proceeds from the auction to charity.

As per Estavi’s listing of Dorsey’s tweet on OpenSea, the NFT is up for sale for ETH 14,969. Estavi claims that 50 percent of proceeds — which Estavi claims to be in the ballpark of “$25 million (roughly Rs. 188 crore) or more” — will be donated to a charitable foundation based out of the US, named GiveDirectly, which aims to alleviate extreme property through direct cash transfers in Kenya, Uganda, and Rwanda.

Dorsey responded to Estavi’s tweet by asking, “Why not 99 percent of it?”, referring to the amount set out for charity by Estavi, while directing his reply to GiveDirectly and Tesla founder Elon Musk who recently joined Twitter’s board.

Responding to Dorsey’s tweet, Estavi said, “I don’t want the rest for myself; I’d prefer to use the rest to support blockchain projects (Bridge Oracle) and help my people, but your suggestion is valuable to me. If you like, I would donate 100 percent of it to charity if you let me know.”

Meanwhile, the platform which sold the NFT of Dorsey’s first tweet for $2.9 million (roughly Rs. 22 crore) halted transactions on February 6 because people were selling tokens of content that did not belong to them, its founder said, calling this a “fundamental problem” in the fast-growing digital assets market.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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