In a tweet yesterday, Sina Estavi, the CEO of Malaysian blockchain firm Bridge Oracle, stated that he wants to sell Jack Dorsey’s first tweet as an NFT for 14,969 Ether, or around $48.3 million, which is 16 times what Estavi bought for it last year. OpenSea, an NFT marketplace, has advertised it at that price.
According to CoinMarketCap, the NFT would be in the same price range as works of art by great artists like Pablo Picasso and Vincent van Gogh based on the price tag of the NFT.
There were two high-profile auctions for Picasso’s Woman in a Red Jacket and Quadrillée and Van Gogh’s L’Allée des Alyscamps in 2018, which sold for $68.7 million and $72.4 million respectively.
NFT prices are notoriously high, but this is still a lot of money. Beeple’s Everydays: The First 5,000 Days, which sold for an eye-popping $69 million at auction last year, was the first prominent piece of NFT art to be sold. Immediately following Beeple’s historic sale, the market for profile image NFTs skyrocketed, with the two most popular collections selling for the highest prices. Even still, the most expensive Bored Ape ever sold was just over $2 million, and according to DappRadar, which records NFT transactions, just one CryptoPunk has sold for more than $23 million.
When @jack tweeted in 2006 that he was “just setting up my twttr,” Estavi bought the tweet for $2.9 million as an NFT in March of 2021. It’s a piece of art to Estavi.
Around the time he acquired it, he tweeted, “I imagine years later people will discover the full value of this tweet, like the Mona Lisa painting.
An East African organisation called GiveDirectly has been chosen by Estavi as a recipient of 50% of the earnings from the sale of her book.
On Thursday, Dorsey, who stepped down as Twitter CEO in November, responded to Estavi’s tweet asking why she wouldn’t donate 99 percent of the money to charity, which she promptly did. Estavi responded to Dorsey’s request by indicating he would review it.
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